Demandware to test cloud IPO appetite
Demandware Inc, the fifth cloud computing-based software company to join the IPO wave since December, is expected to see strong pricing and trading during its offering next week.
The Burlington, Massachusetts, firm, which makes software businesses use to maintain their e-commerce sites, plans to raise an estimated $74 million during its IPO under the new ticker "DWRE" on the New York Stock Exchange. It plans to offer 5.5 million shares in a range of $12.50 to $14.50.
Demandware follows a string of successful public offerings from other cloud-based technology companies; all priced within or above their expected range, and then saw their shares soar…