IPO gets full price, valuation tops $1 billion


MOUNTAIN VIEW — Silicon Valley’s first pure-tech IPO in 2014 brought in millions more than expected Thursday, as convinced investors it is worth more than $1 billion.

The discounts website planned to sell 10 million shares at a price ranging from $12 to $14, but after meeting with potential institutional investors, the company sold an additional 500,000 shares at a price of $16, according to IPO tracking service Renaissance Capital. The company, founded during the dot-com boom of the late 1990s, brought in $168 million at that price, with an initial valuation approaching $1.2 billion.

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