Payments startup Marqeta valued at over $17 bln in Nasdaq debut – Reuters
- Date: 10-Jun-2021
- Source: Reuters
- Sector:Technology
- Country:Middle East
Payments startup Marqeta valued at over $17 bln in Nasdaq debut – Reuters
Shares of Marqeta Inc (MQ.O), which counts Uber Technologies Inc (UBER.N) and hedge fund Coatue among its investors, rose more than 20% in their Nasdaq debut, giving the payments startup a market capitalization of over $17.2 billion.
Marqeta stock opened at $32.50 on Wednesday, compared with its initial public offering price (IPO) of $27 per share. Its IPO was priced well above its target price range of $20 to $24 per share.
The Oakland, California-based company sold 45.45 million shares in its IPO, raising about $1.2 billion.
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