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Okta is setting an increasingly ambitious target for its IPO, now officially pricing it at $17 per share set for its debut tomorrow<\/a> \u2014 and looking to raise as much as $187 million in the hopes that it can capitalize on the newly open IPO window.<\/p>\n There\u2019s been a wave of companies going public in the past quarter alone, with Snap having a largely successful IPO and Yext\u00a0filing to go public the same day as Okta. Last year there was a drought of IPOs, but it looks like companies are trying to get their public debuts out the door while they\u2019re still able to capitalize on the excitement of Wall Street getting into these companies from the get-go.<\/p>\n Okta will be offering 11 million shares, though there is also an option for underwriters to purchase an additional 1.65 million shares. In total, Okta could raise as much as $215 million. Previously, Okta looked to price its shares as high as $15 per share<\/a>.<\/p>\nIt\u2019s not a surprise that these companies want to get these big debuts out of the way. IPOs, in addition to being liquidation events and also moments of validation, are financing rounds that help them build big war chests. Okta (like other companies going public) has to strike a balance between raising a good amount of capital and also ensuring that everyone gets paid out in the process.<\/p>\n Okta\u2019s business specializes in identity management software, along with mobile device management, two-factor authentication and security. As companies get bigger and bigger, and the applications in use within those companies start to expand, they need to ensure that the right employees have access to the right services. That helps not only segment employees into the right roles, but may also help prevent breaches that could hamstring their business.<\/p>\n While the company has still fallen dramatically from its highs, Snap\u2019s IPO still seems to have been successful, with the company trading well above its IPO price \u2014 at around $20.57 today compared to the $17 initial price. Lending company Elevate, which went public today<\/a>, also appears to have had a successful 19 percent pop, though it lowballed its asking price in its IPO. Still, as new IPOs continue to show success on Wall Street \u2014 or get snapped up at the last minute like AppDynamics being bought by Cisco at a healthy moment \u2014 it means that we\u2019ll probably continue to see a more aggressive push among tech companies.<\/p>\n <\/p>\n Featured Image: okta<\/small><\/p>\n Article source: http:\/\/feedproxy.google.com\/~r\/techcrunchIt\/~3\/brFAEW_EO5Y\/<\/p>","protected":false},"excerpt":{"rendered":" Okta is setting an increasingly ambitious target for its IPO, now officially pricing it at $17 per share set for its debut tomorrow \u2014 and looking to raise as much <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[19],"tags":[25],"class_list":["post-4562","post","type-post","status-publish","format-standard","hentry","category-enterprise-software","tag-enterprise"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t