Re/Max, the global real estate network of franchisee-owned-and-operated agencies that currently operates in over 90 countries, is the latest Adaptive Planning customer to hit the market with an initial public offering.
Re/Max’s IPO comes just weeks Adaptive customers FireEye and RocketFuel held their IPOs and enjoyed tremendous success when they each opened for public trading.
After operating as a private company for 40 years, Re/Max enjoyed great success during day 1 of public trading. After initially pricing its shares at even $22 on Tuesday, Re/Max debuted its shares at $26.25; an increase of nearly 20 percent. By the end of day 1 trading, Re/Max shares were up to $27. All told, Re/Max shares rose 22.7 percent from Tuesday’s initial offering price.
Re/Max is the 7th Adaptive Planning customer to go public this year, and the fourth to hit the market within the last two weeks. Model N, Marin Software, and RetailMeNot also went public earlier in 2013.
All told nearly 250 Adaptive Planning CPM & BI software business customers have gone public. It’s a group that’s growing faster than ever before. Since April 2012, nearly 25 Adaptive Planning customers have issued IPOs, with more of the fastest-growing, most innovative companies soon to be added to the list.
Congratulations to Re/Max and to all of our innovative, industry-leading customers!