Data Domain Shares Jump After IPO update from June 2007

Data backup provider Data Domain shares surge 55 percent after the company's IPO.

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Shares of data backup provider Data Domain (DDUP) shot up more than 55 percent in their first day or trading after the company's successful IPO. The company priced its offering at $15, and at mid-afternoon shares were trading at $23.28 per share. Data Domain is among the leading providers of data deduplication to eliminate redundant file backups, a technology which is lightly adopted at present but poised for significant growth.

The strong showing follows a similar first-day pop for content delivery network (CDN) provider Limelight Networks (LLNW), which shot up to $22 in the early hours after going public at $15. Shares of Limelight are currently trading at $17, off their first-day highs but still above the IPO price.

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Data Center Knowledge, a sister site to ITPro Today, is a leading online source of daily news and analysis about the data center industry. Areas of coverage include power and cooling technology, processor and server architecture, networks, storage, the colocation industry, data center company stocks, cloud, the modern hyper-scale data center space, edge computing, infrastructure for machine learning, and virtual and augmented reality. Each month, hundreds of thousands of data center professionals (C-level, business, IT and facilities decision-makers) turn to DCK to help them develop data center strategies and/or design, build and manage world-class data centers. These buyers and decision-makers rely on DCK as a trusted source of breaking news and expertise on these specialized facilities.

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