Customer engagement platform 鈥檚 stock closed up 44 percent on its first-day trading on the .听
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The company set an IPO price of $65 per share after setting a price range of between $55 and $60 per share. Its stock popped 34 percent, opening at $87.20 on Thursday, before closing at $93.39. The company raised $520 million through its IPO.
New York-based Braze raised more than $175 million in funding from investors including and . It last raised money with an $80 million Series E led by , and was valued at $850 million.听
At Braze鈥檚 IPO price of $65 per share, the company was valued at nearly $6 billion.
Braze鈥檚 IPO comes during a busy year for the public markets, with IPO deal volume at a record high. Braze聽 joins other venture-backed companies going public this week, including , which began trading Wednesday, and , which is expected to start trading Thursday.
, and were among the underwriters for the IPO. Braze is trading on the Nasdaq under the ticker BRZE.听
Illustration: Li-Anne Dias
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