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JFrog — the Israeli developer of the platform for software management in the large companies. In particular, the solution helps to update quickly a large number of program systems and to implement new products. Sony, Qualcomm, HP, Google, Microsoft and Activision Blizzard are among clients of JFrog. In total JFrog has about 5800 clients (by September, 2020).
Performance Indicators
In 2019 revenue of JFrog made $105 million, having increased by 65% in comparison with previous year. Losses of the company during this time decreased from $26 million to $5.4 million, despite 15 percent increase in expenses.
History
2020: Entry into the exchange: attraction of $509 million and capitalization of $4 billion
On September 16, 2020 JFrog initial public offering took place. Within the IPO company sold $11.6 million securities at the price of $44 apiece that exceeds earlier called range in $39-41. Market capitalization of IT vendor in the first day in the status of the public company made $4 billion.
JFrog placed the shares on the Nasdaq exchange, using a ticker of FROG. To closing of the platform in day of the IPO of quotation of the company jumped by 47.3% and reached $64.79. In the next days actions rose in price, and to closing of the exchange on September 22, 2020 their price was $77.71, having increased by 16% in comparison with previous day. However, at electronic biddings on the same day securities fell in price by 1.56% up to $76.5.
The CEO Shlomi Bin Haim sold 638 thousand shares that at the price of $35 for an action will make $22.3 million, and all the same remained from 5.8% of stocks of the company after the IPO. The technical director Yoav Landman sold 500 thousand shares for $17.5 million and saved from 8.3% of stocks. The top analyst of data Fred Simon sold 300 thousand shares for $10.5 million, having left a share in 6.4% in the company.
The Scale Ventures fund which before the IPO possessed 10.7% sold a part of the share for $38 million, and Qumra Capital lowered the share from 5.2% to 3.5% for $36.6 million[1]
Notes
Stock price dynamics
| Ticker company on the exchange: | NASDAQ:FROG |
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