Shares in customer relationship management software developer Calico Commerce Inc jumped $42, or 300%, to $56 on Thursday after the company sold four million shares in an initial public offering at $14, the upper limit of the expected range. The San Jose-based company’s stock traded as high as $62.50 in the session as 11.1 million shares changed hands, making Calico one of the most-active stocks on the exchange in addition to being the most advanced.
Calico’s business relationships include high-profile customers such as Merrill Lynch, Cisco and Dell, direct selling partnerships with IBM and Silknet Software and systems integration alliances with Andersen Consulting and Logica. Both Andersen and Dell are expected to take equity stakes in the sale. Currently, both Kleiner Perkins and Mayfield Fund own 20% of Calico. Goldman Sachs was lead underwriter of the IPO, with Merrill Lynch and Hambrecht & Quist assisting.
Despite revenue growth of 81% in the company’s last fiscal year, net losses totaled $15.2m on sales of $21.4m. Calico’s eSales Suite integrates a range of personalization and product configuration technologies for web-based buying and selling.
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