![]() ![]() "I'm more concerned about the price going forward," he said.įriend said that Carbonite in June launched a version of its cloud storage service specifically for small businesses after noticing from a survey conducted last year that 300,000 such businesses were using its consumer service to protect their data. "And of course all the publicity of being a public company will help drive subscriber interest," he said.ĭuring the question-and-answer portion of the press conference, Friend said Carbonite never considered postponing the IPO, and that he was not concerned about how the company's share prices did on opening day. The funds raised from the IPO will be used to continue expanding internationally and for strategic acquisitions. "So here we are, six years later, the fastest growing company in this space and, needless to say, the only one to manage to go public," Friend said during a Thursday press conference.Ĭarbonite is currently protecting 1.1 million customers worldwide, Friend said. It also represents a victory of sorts compared to its competition, which includes a wide range of relative startups as well as some long-established vendors who have moved into the market, said David Friend, Carbonite CEO who founded the company six years ago this month after he received a call from his daughter at college who lost a term paper due to a hard drive failure. Up to 10 companies had been planning their IPO for this week, but Carbonite is the only one to successfully complete it. Given the roller coaster ride stocks have been experiencing since late July, the fact that Carbonite could pull off an IPO was itself a victory. ![]() However, near the end of the Thursday trading day, shares of Carbonite, trading with the symbol "CARB," was up about 28 percent to $12.80 per share. That's a big step down from the $106 million the company had originally expected to raise a couple of weeks ago. ![]() Cloud storage provider Carbonite's IPO on Thursday raised just over half of what it had been expecting, but its CEO said the rise in share prices on its first day as a public company, and the fact that it could go public at all given recent stock market gyrations, was still good news for the company.Ĭarbonite, the Boston-based provider of online backup solutions for consumer and SMB customers, on Wednesday priced its IPO (initial public offering) at $10 per share, making its IPO worth a total of $62.5 million. ![]()
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