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Market Movers

by Felix Salmon

Main

Avant-Garde and Kitsch Taking the Laptop on the Train or Plane

Jul 30 2007 12:29PM EDT

On Monday of last week, Marc Andreessen broke some big news on his blog: he'd sold his company, Opsware, to HP for $1.6 billion in cash. He was even forced to put some very small small print at the bottom, on the advice of his lawyers.

On Tuesday of last week, Opsware rival BladeLogic revised its IPO pricing. It was planning to go public at between $12 and $14 per share, but after looking at the Opsware valuation, it upped that price to between $16 and $17 per share.

On Wednesday of last week, BladeLogic priced its IPO at the top of the indicated range: $17 per share.

Late on Wednesday morning, BladeLogic's shares started trading at about $24 apiece, and have now settled down at the $25 level. That's a 47% rise from the IPO price, making BladeLogic one of the most successful IPO stories of the year, despite the atrocious market conditions in the face of which it launched.

BladeLogic's ticker symbol is BLOG.

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