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Datadog logo. From Datadoghq.com

Datadog, a New York-based provider of cloud app monitoring SaaS, raised $648 million in its IPO by pricing 24 million shares at $27 (above upwardly-revised range).

Why it matters: This values Datadog at $8.7 billion, or more than 13 times higher than the company's last private mark of $640 million. Plus, it's poised to become a massive win for a New York tech scene that's smarting over WeWork — a rebound that Peloton could expand on tonight.

The company reportedly turned down a last-minute, $7 billion-plus takeover offer from Cisco, which was seeking to replicate its AppDynamics deal.

  • By the numbers: Shareholders include Index Ventures (20.1% pre-IPO stake), OpenView Venture Partners (16%), Iconiq (11.3%), RTP Ventures (8.2%), and Meritech Capital Partners.

The bottom line: Datadog will seek to replicate the early aftermarket success of fellow 2019 SaaS companies Zoom Video and Crowdstrike, but not their recent stock price swoons. In just the past month, Zoom shares are down 9.25% and Crowdstrike is off 28.7%.

Go deeper

1 hour ago - Health

FDA authorizes Johnson & Johnson's one-shot COVID-19 vaccine for emergency use

Photo: Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images

The Food and Drug Administration on Saturday issued an emergency use authorization for Johnson & Johnson's one-shot coronavirus vaccine.

Why it matters: The authorization of a third coronavirus vaccine in the U.S. will help speed up the vaccine rollout across the country, especially since the J&J shot only requires one dose as opposed to Moderna and Pfizer-BioNTech's two-shot vaccines.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

Updated 2 hours ago - World

Myanmar military fires UN ambassador after anti-coup speech

Photo: Peerapon Boonyakiat/SOPA Images/LightRocket via Getty Images

Myanmar's military regime on Saturday fired the country's ambassador to the United Nations, Kyaw Moe Tun, a day after he gave a pro-democracy speech asking UN member nations to publicly condemn the Feb. 1 coup, The New York Times reports.

The latest: Kyaw Moe Tun told Reuters later on Saturday, "I decided to fight back as long as I can."