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Jamf CEO Dean Hager, alone in the company's Minnesota offices on IPO day. Photo: Ina Fried/Axios

Jamf, a Minneapolis company that helps businesses manage their employees' use of Apple devices, had a blockbuster first day of trading Wednesday, with shares up nearly 40% in an initial offering that raised $468 million for the firm.

The big picture: CEO Dean Hager told me in an interview he has "absolutely no regrets" that money was left on the table, calling Wednesday "about as energizing a day as we've had in Jamf's history."

Why it matters: Apple, which has traditionally put most of its energy on the consumer market, is a growing force inside businesses. But it leaves a lot of the integration and management tasks to other companies, like Jamf.

Hager isn't concerned that Jamf needs to diversify beyond supporting Apple products, saying that's a $10 billion market growing more than 17% a year. Hager added that research shows 70% of millennials and Generation Z prefer iOS to Android, and Mac to PC, when given the choice.

  • "That means we are at the beginning of this transformation, not nearing the end," Hager said.

Between the lines: Hager also brushed off concerns that Apple could some day take over its business.

History lesson: Jamf started in 2002, long before the iPhone and at a time when Apple was still early in its recovery from years of struggle. In 2017, Vista purchased a controlling interest in Jamf for a reported $733 million — a stake that is now worth billions, with the company's valuation at the end of the IPO day at over $5 billion.

Go deeper

Ina Fried, author of Login
Oct 30, 2020 - Economy & Business

The pandemic isn't slowing tech

Illustration: Eniola Odetunde/Axios

Thursday's deluge of Big Tech earnings reports showed one thing pretty clearly: COVID-19 may be bad in all sorts of ways, but it's not slowing down the largest tech companies. If anything, it's helping some companies, like Amazon and Apple.

Yes, but: With the pandemic once again worsening in the U.S. and Europe, it's not clear how long the tech industry's winning streak can last.

Biden will reverse Trump's attempt to lift COVID-related travel restrictions

Photo: Tasos Katopodis via Getty

The incoming Biden administration will reverse President Trump's last-minute order to lift COVID-19 related travel restrictions, Jen Psaki, the incoming White House press secretary, tweeted.

Why it matters: President Trump ordered entry bans lifted for travelers from the U.K., Ireland, Brazil and much of Europe to go into effect Jan. 26, but the Biden administration will "strengthen public health measures around international travel in order to further mitigate the spread of COVID-19," Jen Psaki said. Biden will be inaugurated on Wednesday, Jan. 20 and Trump will no longer be president by the time the order is set to go into effect.

Dominion sends cease and desist letter to My Pillow CEO Mike Lindell

Photo: Stephen Maturen/Getty Images

Dominion Voting Systems on Monday sent a cease and desist letter to My Pillow CEO Mike Lindell over his spread of misinformation related to the 2020 election.

Why it matters: Trump and several of his allies have pushed false conspiracy theories about the company, leading Dominion to take legal action. It's suing pro-Trump lawyer Sidney Powell for defamation and $1.3 billion in damages, and a Dominion employee has sued Trump himself, OANN and Newsmax.