This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Jive Software Opens Up 27% on Debut

Jive story updated with CEO comments

NEW YORK ( TheStreet) -- Shares of Jive Software (JIVE - Get Report) shot up 27% to $15.12 Tuesday during the business software company's first day of trading on the Nasdaq as strong investor interest in the social media sector continues.

Jive Software, which offers Facebook-like social networks for businesses, priced shares at $12 a piece in its IPO, which was above its expected range of $8 to $10 a share. Jive raised $161.3 million through the offering.

For the six months ended June 30, the Palo Alto, Calif.-based Jive reported a loss of $30.6 million on revenue of $34 million, which compares to a loss of $13.3 million on revenue of $19.2 million in the same period a year earlier, according to its S-1 filing in late August.

Customers include Brocade (BRCD), NetApp (NTAP) and Pearson (PSO).

Jive is one of 11 IPOs this week as companies look to get out before the market shuts down until January. Other IPOs include social gaming company Zynga and high-end fashion brand Michael Kors.

These companies are coming to market in a turbulent time for IPOs. Last week, five companies withdrew or postponed their offerings, according to Renaissance Securities.

"Everybody is watching [us]," Jive CEO Tony Zingale said in an interview. "We were told you have to be a very high quality company to get out in this environment."

Zingale said he is not concerned with pitfalls that have plagued other recent tech offerings, including Pandora (P) and LinkedIn (LNKD) whose shares have slipped following recent IPOs.

Pandora is down nearly 40% this year while LinkedIn shares have fallen 27%.

"We're not a consumer company, we're an enterprise company," he said. "We do take advantage of the 'social halo' but we're not about eyeballs and won't be subject to the massive volatility those companies have experienced."

Shares of Jive were trading at $15.25 in early afternoon trading on Tuesday.

--Written by Olivia Oran in New York.

>To follow the writer on Twitter, go to

>To submit a news tip, send an email to:

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
JIVE $5.02 1.21%
AAPL $118.30 0.42%
FB $104.24 -1.15%
GOOG $742.60 -1.02%
TSLA $230.26 -0.58%


Chart of I:DJI
DOW 17,719.92 -78.57 -0.44%
S&P 500 2,080.41 -9.70 -0.46%
NASDAQ 5,108.6660 -18.8590 -0.37%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs