Eloquent (Nasdaq: ELOQ), which provides business-to-business Web-based, rich-media communications solutions, also had a successful initial public offering on Thursday. Eloquent’s stock doubled on Thursday, gaining 16 to 32.
The company priced 4.5 million shares at $16. The original price range of the IPO was $10 to $12, but Eloquent raised that range twice this week before finally pricing its offering.
Eloquent’s technology allows businesses to conduct multimedia conferences via the Internet with audio, video, graphics, and text. The company’s clients have included an A-list of technology giants, including Cisco Systems, Microsoft, Compaq and Lucent Technologies.