Expensify shares soar in IPO

By Benjamin Pimentel,

Shares of Expensify soared more than 45% as the expense management company began trading on the Nasdaq on Wednesday. Expensify priced its IPO at $27 a share at a $2.18 billion valuation. The stock climbed more than 45% at $39.20 in midday trades.

“It’s a pretty exciting time,” Expensify CEO David Barrett told Protocol shortly before the trading began. “It’s a huge, huge market opportunity. And I think people really see that there is a way to capture a huge fraction of a market that’s been largely overlooked.”

Source : https://www.protocol.com/bulletins/expensify-ipo-shares-soar

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