Year's first tech IPO just got bigger
AppDynamics, a software company designed to help businesses spot and fix bugs in their applications, will be the first big tech IPO of 2017. The company originally filed to sell shares at $10-$12, but thanks to strong investor demand they're now selling at $12-$14 per share.
Expect to see prices tomorrow night. The company will begin trading Thursday.
Why this matters: 2016 was the slowest year for tech IPOs since the Great Recession. AppDynamics' optimistic IPO indicates that the market expects more companies to go public this year.