In the middle of all the sturm und drang of the GameStop affair, Qualtrics went public today.
After pricing its stock above its IPO range, the company received a warm welcome from public investors. After starting his trading life worth $ 41.85, Qualtrics closed the day worth $ 45.50, up 51.67%.
Qualtrics did everything it said it would.
The software company’s debut comes after a long road to public procurement; Qualtrics sold to SAP on the eve of its first public listing participation in 2018. Now, SAP has completed the spin-off of the company, though the software giant remains the largest shareholder in Utah’s Unicorn.
This Qualtrics IPO could perform well was presumed in its price race, with prices well above its initial valuation estimates; there was evidence of strong demand even before his stocks started trading.
But have Qualtrics made any pricing mistakes, given its strong performance in day one? TechCrunch spoke with Qualtrics CEO Zig Serafin and its founder and current Executive Chairman Ryan smith about its public offering, hoping to learn more about the future of the business.
After talking to a myriad of people on IPO days, I’ve learned that the best way to start is to ask questions about emotions. Most CEOs and other leaders are tied to what they can (and can’t) say. And they’re well trained by communication experts on what to rehearse and emphasize. You can sometimes loosen them up a bit, however, by asking them how they’re feeling.
In response to this question, Serafin described a feeling of gratitude and Smith referred to the long game. Qualtrics, he said, was told they couldn’t boot, couldn’t build in Utah, SAP overpaid, SAP messed up, etc.