ServiceNow tests post-Facebook IPO waters

IT software company Servicenow priced its shares above their target range in a closely watched post-Facebook IPO.

Silicon Valley-backed software company ServiceNow Inc. priced its initial public offering above its expected range on Thursday in a closely watched post-Facebook IPO.

The San Diego-based IT software company, backed by Menlo Park venture firms Sequoia Capital? ? Sequoia Capital Latest from The Business Journals Lattice Engines kicks software sales, hiring into high gearRockYou taps .7 million, downsizes to San FranciscoLattice Engines revs up growth Follow this company and Greylock Partners? ? Greylock Partners Latest from The Business Journals Rally.org gets .9M for fundraisingThe Funded: Freshplum, Traxpay, U-Systems, Synthego AtHoc Inc. raises .6 million Follow this company , raised $209.7 million.

It had been projected to price between $15 and $17.

The IPO is being led by Morgan Stanley? ? Morgan Stanley Latest from The Business Journals Bonus for Mass. banksBerko: Greece?s economic woes proving a united Europe is utopian fantasyCape Cod broker banned after alleged funds transfer Follow this company , which came under heavy criticism after problems with Facebook Inc.'s? ? Facebook Inc. Latest from The Business Journals 3 tips for using social-media coupons and promotionsVantiv IPO a boon, Chiquita a bust in first halfSEC may seek Nasdaq upgrade after Facebook IPO Follow this company IPO in May, which fell by as much as 33 percent after going public at $38. The Menlo Park social networking giant's shares have made back more than half of that drop since.

The ServiceNow offering is being closely watched by a number of Silicon Valley companies that have either postponed or held off on their planned offerings after the Facebook IPO.

Unlike the Facebook IPO, Servicenow is listing on the New York Stock Exchange, with the symbol NOW.

Its revenue more than doubled to $92.6 million in fiscal 2011 as it swung to a profit of $9.8 million from a loss of $29.7 million in 2010.

Written by Cromwell Schubarth. Contact him at cschubarth@bizjournals.com or 408.299.1823.

Source: http://feeds.bizjournals.com/~r/vertical_40/~3/7LYs2pgjz8I/servicenow-tests-post-facebook-ipo.html

aurora borealis gcb mary j blige rush limbaugh rush limbaugh dionne warwick patricia heaton