It looks like we can add another one to the string of IPOs that at least look like they’ve been successful — with Yext, too, popping more than 20% once its shares made their debut this morning.
Shares of Yext went as high as $14 or so after the company gave its final pricing at $11 last night — meaning it raised at least $115.5 million in its IPO. Following Okta, and before that Mulesoft and even Snap, Yext seems to have capitalized on the open so-called “IPO window,” with investors and executives looking to cash in on the appetite for new tech IPOs. After a drought of tech IPOs last year, it looks like interest is steadily ramping up in the first half of the year.
That’s good for not just the companies looking to raise capital, but also investors and employees that have been waiting to finally see a cash-out for their patience. Yext, for example, was started in 2006, and it’s not alone in a large number of companies that have been waiting for the right time to finally go public.