(Reuters) – Shares of Fusion-io Inc. (NYSE: FIO), which makes storage memory hardware and software for data centers, soared 34 percent in their market debut, as the rush to snap up technology startups showed no signs of waning.
Fusion-io’s shares sold for an IPO price of $19 apiece, but Thursday’s opening price of $25 a share values the company at about $1.95 billion. The company had originally planned to sell shares in the $16-$18 range.
UPDATE: The company’s shares ended the day at $22.50, up 18% from their IPO price. As of 2:43 p.m. EST, the company’s shares were trading for $22.89 each.
New Enterprise Associates (NEA) and Lightspeed Venture Partners are Fusion-io’s largest shareholders, according to the company’s most recent S-1 filing. NEA’s 25.93 million shares are worth more than $593 $583 million at $22.89 $22.50 per share, while Lightspeed’s 8.82 million shares are worth more than $201 $198 million. (Note: Updated with closing share price.)