Yodlee’s much-anticiptaed initial public offering launched on Friday. With 6.25 million shares priced at $12, YDLE opened at $16.20 on the Nasdaq and rallied to a mid-day high of $17.97, before finishing the session at $13.44.
Yodlee raised $75 million through the IPO. As part of the offering, underwriters have 30 days to purchase as much as 937,500 additional shares. The company has a market capitalization near $400 million.
Courtesy of TheStreet.com, here’s a video interview with Yodlee CEO Anil Arora discussing the company’s market debut.
Yodlee leverages thousands of data points and its unique cloud platform to power a digital financial ecosystem of API, PFM, money movement, data and wealth management solutions that includes some of fintech’s most innovative companies, from BillGuard and LearnVest to Personal Capital and Xero. More than 750 organizations use Yodlee’s technology, reaching millions of consumers.
Yodlee was founded in 1999 and is headquartered in Redwood City, California. A multiple Finovate Best of Show winner (FinovateFall 2013, FinovateAsia 2014), Yodlee also won honors at FinDEVr San Francisco 2014. The company joins Q2 and Cachet Financial Solutions in going public this year, with Lending Club having filed for its IPO back in August.