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Morning Report: Another day, another IPO. Today Arlo started its first day of trading over 16聽percent.

On the heels of audio hardware company Sonos’s own IPO, 聽started trading today after , under its of $18 to $20.

That makes Arlo the second consecutive hardware IPO to price its shares under its expected range, a bearish indicator. However, Sonos’s first day saw the company trade sharply higher. Arlo hopes that its first, full-day of trading will yield a similar result.

Arlo , up around 16 percent from its IPO price. The firm managed, therefore, to kick off its public life at a share price in its targeted range. The company has since appreciated to $20 per share, up a full 25 percent. (We’ll update this piece when trading halts.)

The company sold just in its debut, raising around $163 million in the process. Arlo’s greenshoe option could see the company generate another $24.5 million off the sale of over 1.5 million shares. Arlo is majority-owned by , which owns about 86 percent of the company’s shares after the IPO.

Sans greenshoe shares, Arlo is worth around $1.16 billion at its IPO price. In its most recently reported quarter (using separation-adjusted numbers), the security camera concern had revenue of just over $100 million, gross profit of $29.1 million, operating expenses of $29.8 million, and a slim net loss of $480,000.

Another hardware company is now public. For its sake, let’s hope it doesn’t follow GoPro or FitBit, two physical-technology companies that struggled after their debut.

From The聽:

July set record for $100M+ VC rounds

• July set an all-time record for the number of huge venture deals struck in a single month, with 55 rounds of $100 million or more totalling just over $15 billion. Crunchbase News takes a look at where the money went.

• , the maker of pricey and popular Internet-connected fitness bicycles, just raised $550 million in a massive new funding round led by TCV. The financing values New York-based Peloton at $4 billion.

Apple is worth over $1 Trillion

• Startups getting multi-billion-dollar valuations sounds like a big deal. But maybe not to Apple. The valuation of the most valuable U.S. technology company just surpassed $1 trillion, an all-time record.

• Germany鈥檚 Siemens announced that it is acquiring聽, a low-code platform for app development, for $700 million. Founded in 2005, Boston-based Mendix previously raised $38 million in venture funding.

Tracking Cisco鈥檚 biggest startup buys

• Cisco鈥檚 $2.35 billion acquisition of聽聽this week is just one of many multi-billion-dollar purchases over the years. Over the past two decades, the networking giant has made sixteen known startup acquisitions of $1 billion or more, out of a total of more than 200 deals.