Envivio IPO watch: Video on demand service provider Envivio formally landed on the NASDAQ Stock Exchange Wednesday, with an openning stock price of $9.35. Then, ENVI stock price went down, finally closed at $8.49, representing a decrease of 5.37% compared with the Envivio IPO price of $9, with a daily trading volume of over 4.8 million shares. ENVI commanded a market capitalization of 226 million dollars.
ENVI stock price maintained the down momentum in the after-hours trading and reported at $8.4, representing an increase of 1.06%, with an after-hours trading volume of 28,099 shares.
The company generated $51 million in sales, an increase of 69% compared with a year ago; net profit reached $138,000, compared with a net loss of $2 million in the same period last year. Customers increased from 220 in April 2011 to the current more than 300, including nine of the world’s ten largest broadband suppliers.
Envivio was founded in 2000, is headquartered in San Francisco, California has currently grown into a company providing high-quality video content suitable for a variety of devices and network companies from a video codec technology provider in the past.