Social enterprise giant Jive has just priced its IPO, which is set to debut on the public markets tomorrow morning. Jive priced at $12 per share this evening, above the expected range. The company originally set the range between $8 and $10 per share. At $12 per share, Jive is valued at over $600 million.
Jive, which will list on the Nasdaq under the symbol ‘JIVE,’ filed its original S-1 in August. Jive had previously raised $57 million in funding, but in October existing investors Sequoia and Kleiner Perkins invested $40 million more in the company.
The Wall Street Journal reports that the company sold 13.4 million shares, up from the 11.7 million shares originally planned.
Modeled to offer Facebook-like features to enterprises, Jive’s software combines computing with social collaboration to offer fully-featured social networks for businesses. Its suite of applications help businesses collaborate on a variety of tasks, including holding discussions, communication, sharing documents, blogging, running polls, and social networking features and more.
For the year ended December 31, 2010 and for the nine months ended September 30, 2011, Jive’s total revenues were $46.3 million and $54.8 million, respectively. The company saw net losses of $27.6 million and $38.1 million for the years ended December 31, 2010, and for the nine months ended September 30, 2011, respectively.
Next up on the IPO train is Zynga, which is expected to begin trading at the end of this week.