2. Enterprise Apple helper sees soaring IPO
Jamf, a Minneapolis company that helps business manage their employees use 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.
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.