Wednesday, November 15, 2017

SendGrid Raises $131M In IPO

Boulder-based SendGrid, the provider of email infrastructure and back-end services, has raised $131M in its IPO, and was seeing a big bump in its price this morning. SendGrid began trading on the New York Stock Exchange today as SEND. The company priced its IPO at $16.00 per share last night, above its initial estimated IPO range of $13.50 to $15.50 per share. The company was trading just shy of $19.00 in its initial few minutes of trading. SendGrid is venture backed by Bain Capital Ventures, Bessemer Venture Partners, Foundry Group, and Highway 12 Ventures. The IPO was underwritten by Morgan Stanley, JP Morgan, William Blair, KeyBanc Capital Markets, Piper Jaffray, and Stifel.