Imperva IPO opens high

Share this article:
The debut of Imperva onto the New York Stock Exchange (NYSE) on Wednesday led to strong trading gains for the maker of software protection against hackers and data theft. On a day which saw Dow stocks decline by more than three percent, the initial public offering of the Redwood Shores, Calif.-based company saw a 33 percent gain over its $18 a share opening, closing at $24 a share. Five million shares were traded, which resulted in the raising of around $90 million. Imperva, founded in 2002, has never been profitable. However, the company experienced a 72 percent jump in revenue between 2008 and 2010, and sales continued spurting this year. According to a company prospectus, in the nine months ended Sept. 30, net revenue rose 43 percent to $55 million compared to the same period of 2010. Imperva's principal R&D facilities are based in Israel.
Share this article:

Next Article in News

Sign up to our newsletters

More in News

Cyber Command tests gov't collaboration in wake of attacks

The two-week exercise, "Cyber Guard 14-1," was completed this month.

Text message spammer settles charges filed by FTC

Text message spammer settles charges filed by FTC

Rishab Verma and his company agreed to settle charges filed by the FTC that Verma sent millions of spam text messages that deceitfully promised free merchandise.

Rhode Island hospital to pay $150K for past data breach

More than 12,000 patients' personal and health information was compromised in a breach at The Women & Infants Hospital of Rhode Island.