initial public offerings (IPOs) trading on American exchanges

Friday, May 25, 2018

Pluralsight (PS) began trading on the Nasdaq on 17 May 2018

Pluralsight is an online education company that offers a variety of video training courses for software developers, IT administrators, and creative professionals through its website.
  • Sector: Technology
  • Industry: Software - Application
  • Founded in 2004
  • Headquartered in Farmington, Utah
  • IPO day: Stock opened up 33 percent over pre-opening price and closed at $20.21 a share

 Pluralsight was launched by Skonnard and three others in 2004 offering in-person, classroom-based technology classes. After spending four years teaching at locations all over the world and building a reputation for a high-caliber curriculum, Skonnard and his team recognized that internet tools had finally evolved to the point where they could move their classes online. The digital reboot of the company launched in 2008 with a selection of its 10 most popular classes and has since evolved into an operation that offers almost 7,000 cloud-based courses. It has also built a customer base of 14,000 business clients in 150 countries and, so far, capturing 60 percent of the Fortune 500 companies.

Unlike many tech startup financing endeavors that scramble for outside funding before a product is ever developed, Pluralsight has been a company on the opposite track, opting to self-finance, or "bootstrap" its operation for nearly a decade before taking on investors.

Pluralsight founder and CEO Aaron Skonnard poses for a photo at Pluralsight in Farmington on Friday, Sept. 29, 2017

Pluralsight's early pricing moved up steadily ahead of the stock launch, initially estimated at $10-$12 in a company filing with the U.S. Securities and Exchange Commission. Eventually, it reached a $15 a share pre-opening price and the company was poised to earn just over $310 million on the 20.7 million initial shares.

On opening, the stock jumped 33 percent over that price and finished regular trading Thursday at $20.21 a share.

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