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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.

1 hour ago - Health

FDA advisory panel recommends Pfizer boosters for those 65 and older

A healthcare worker prepares a dose of the Pfizer-BioNTech Covid-19 vaccine at the Key Biscayne Community Center on Aug. 24, 2021. Photo: Eva Marie Uzcategui/Bloomberg via Getty Images

A key Food and Drug Administration advisory panel on Friday overwhelmingly voted against recommending Pfizer vaccine booster shots for younger Americans, but unanimously recommended approving the third shots for individuals 65 and older, as well as those at high-risk of severe COVID-19.

Why it matters: While the votes are non-binding, and the FDA must still make a final decision, Friday's move pours cold water on the Biden administration's plan to begin administering boosters to most individuals who received the Pfizer vaccine later this month.

2 hours ago - World

France recalls ambassadors from U.S. and Australia over submarine deal

Secretary of State Antony Blinken (L), French Foreign Minister Jean-Yves Le Drian (C), and French ambassador to the U.S. Philippe Etienne. Photo: Nicholas Kamm/AFP via Getty Images

France has taken the extraordinary step of recalling its ambassadors to the U.S. and Australia after both countries blindsided their French allies with a new military pact and submarine contract, the French Foreign Ministry announced on Friday.

The backstory: While sealing an agreement with the U.S. and U.K. to acquire nuclear submarines, Australia ripped up an existing $90 billion submarine deal with France. That led senior French officials to accuse the U.S. of a "stab in the back."