Carbon Black stock pops 30% after raising $152M in IPO

May 8, 2018
Shares of Waltham-based Carbon Black Inc. popped about 30 percent in their first few hours of trading on the Nasdaq Global Select Market on Friday, settling around $24 as of mid-afternoon, in the first initial public offering of a Massachusetts tech company so far in 2018.  

Carbon Black (Nasdaq: CBLK) initially offered underwriters 8 million shares at $19 each, raising $152 million. It's a milestone in the long journey of Carbon Black, which was founded under the name Bit9 in 2002.

The IPO also represents a victory for a number of Boston-area venture capitalists and for the local cybersecurity industry, which has seen a flood of startup investment in recent years but relatively few major exits.

“It’s a monumental moment,” said Tom Barsi, Carbon Black's senior vice president of corporate and business development, in a call from Nasdaq's headquarters minutes after company executives rang the exchange's opening bell.

But both Barsi and Paul Morville, vice president of product management, echoed Carbon Black's philosophy that the IPO is just one step along the path toward building a dominant company in the so-called endpoint security market.

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