On Friday, Apigee, a start-up based in San Jose, California, completed its initial public offering (IPO) of 5,115,000 shares of its common stock at a price to the public of $17.00 per share. Apigee is now traded on the NASDAQ Global Select Market under the symbol “APIC.”
The company’s Apigee Edge API platform helps enterprises to build mobile and digital initiatives using APIs, apps and data. Apigee Insights delivers big data predictive analytics. Apigee says that when used together, its APIs and predictive analytics can create an adaptive cycle of continuous improvement – and the faster an enterprise goes through this cycle, the faster it can innovate, adapt and accelerate its digital business.
- In April 2014, Apigee announced $60 million in new venture financing for its API platform for enabling predictive analytics in digital interactions. Pine River Capital Management and Wellington Management Company participated as new investors in this round, along with current Apigee investors Norwest Venture Partners (NVP), Bay Partners, Third Point LLC, SAP Ventures, funds managed by BlackRock, Focus Ventures, and Accenture. This brought Apigee’s total funding to $171 as of April 2014.