Skip to main content

Cloud Software Company BlackLine Soars in Its Nasdaq Trading Debut

Software company BlackLine has a stellar debut in its first day of trading, surging well above its offer price.

Cloud-based software company BlackLine surged in its Nasdaq trading debut on Friday. BlackLine offered 8.6 million shares at $17, and the stock surged more than 40% shortly after it opened for trading. BlackLine makes software for the accounting and finance industry, automating what is currently done manually. Therese Tucker, BlackLine's CEO, says the company has a strong history of growing revenues and adding new customers, both internationally and domestic. For the six months ending in June, the company's revenues totaled $55.6 million, and it had a net loss of $16.9 million. BlackLine has 1,500 customers in 120 countries.

TheStreet Recommends