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Stock Watch: Niku IPO Also Rockets

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Stock Watch: Niku IPO Also Rockets

By Andy Wang & Nora Macaluso
E-Commerce Times
03/01/00 12:00 AM PT


The initial public offering of e-business software company Niku Corporation (Nasdaq: NIKU) also had a great first day on a busy Tuesday for big IPOs. Shares of Niku, which sells software that helps online businesses manage professional services, gained 45 to close at 69 on Tuesday. Niku priced eight million shares at $24, above its revised range of $20 to $22 and double the high end of its original range of $10 to $12.

Niku's customers include Gateway, Kana Communications and Sybase (NYSE: SY). In addition to developing software, Niku operates iNiku.com, an online marketplace for professional services.

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