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Splunk Shares Soar Upon Debut

Start-up now valued at $3.28 billion.

Instagram is so yesterday’s news. The software company Splunk’s shares doubled upon its opening on the stock market Thursday and its share price was up 96 percent by the afternoon, but a market glitch caused some trades to be canceled. By the afternoon, Splunk’s shares were up 96 percent, having nearly doubled at its opening alone. The San Francisco–based firm creates software that aggregates and analyzes data from applications, servers, mobile devices, websites, and more. Splunk has not yet recorded a profit, but the company is valued at $3.28 billion after having an initial public offering of $225 million.

Read it at Dealbook

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