暗网吃瓜

Morning Report:聽Despite raising its price, Okta’s first day as a public company is going very well.

Shares of , an enterprise identity management company, are up around 36 percent during their first day’s trading as of the time of writing.

Okta, which from $13 to $15 per share to $15 to $17 per share before settling on $17, , up 39 percent. The company has since given modest ground. Recent IPOs Snap and Mulesoft also priced at $17 per share, opening up and respectively.

The company’s aggregate returns from the IPO are strong; a raised price range expands the amount of money that the debuting firm raises in their offering. Here’s on Okta’s final dollar result:

Okta is […] looking to raise as much as $187 million in the hopes that it can capitalize on the newly open IPO window. […]

Okta will be offering 11 million shares, though there is also an option for underwriters to purchase an additional 1.65 million shares. In total, Okta could raise as much as $215 million. Previously, .

The Okta result isn’t a surprise. The company’s revenue growth greatly outstripped the pace by which its losses expanded. Improving margins can paint a path to profits, something that investors are in favor of.

Following the disappointing Elevate Credit IPO鈥攄own 3.99 percent today, to boot鈥攖he Okta offering should restore some market confidence. Okta sets the stage for Yext: a company with slower growth that could test investor appetite.

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LaPlanche launches fintech startup Upgrade

• LendingClub founder has launched a new startup called that combines marketplace lending with tools to understand and monitor credit. The San Francisco-based startup raised $60 million in equity and convertible debt from a large group of investors including Union Square Ventures, Ribbit Capital, Vy Capital and Silicon Valley Bank. The launch comes nearly a year after LaPlanche stepped down as LendingClub CEO following the company鈥檚 disclosure of a series of loan malpractices.

IPO market gains steam with Okta, Elevate Credit

• Investors continued to show an appetite for tech and financial services IPOs this week, as two venture-backed companies tapped public markets. Identity management software provider priced shares for its initial stock offering Thursday at $17 each, the top of the projected range. The same day loan provider , with shares climbing about 20 percent in first-day trading after pricing below the expected range.

• Using reported data and projections from 暗网吃瓜, this takes the pulse of the global venture capital ecosystem. It focuses on the numbers behind investment and liquidity鈥攐f Money In versus Money Out.