Convio (CNVO) went public yesterday! The IPO did quite well considering the circumstances.
When assessing the two tech IPOs of the day, the second being a hardware manufacturer, an industry analyst said:
“You can keep selling the same (software) code over and over again. On the hardware side, that stuff is obsolete. By the time it is released, there is already something better in development,” said Morningnotes.com founder Ben Holmes.
Convio was hoping to raise $56.5 million with this IPO. The good news for me is that I can now more easily follow Convio in the same way I follow Blackbaud. Unfortunately, the market is down today so it looks like Convio’s stock price will stay at the $10 range today. It did go up as 10.885 on it’s opening day. I hope Convio’s stock price rises as we certainly need more competition for the Blackbaud juggernaut.
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