Onetime Portland social networking company Jive Software is moving closer to an initial public offering by setting a price range for its shares at $8 to $10.
Onetime Portland social networking company Jive Software is moving closer to an initial public offering by setting a price range for its shares at $8 to $10.
Jive, now headquartered in Palo Alto, Calif., indicated it plans to raise between $93.6 million and $117 million in the public stock offering and trade on the Nasdaq exchange under the ticker symbol JIVE.
The company filed for its IPO in August, saying it hoped to raise $100 million. In its regulatory filing this morning, Jive said it will use $20 million from its IPO proceeds to pay down existing debt and use the rest for “general corporate purposes.”
Founded in 2001, Jive moved its headquarters from downtown Portland to California last year — closer to its venture capital backers and the Silicon Valley’s talent pool. The company has 392 employees, including about 160 in Portland.
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