New Relic detailed on Thursday the pricing of its upcoming initial public offering. The company plans on offering 5 million shares of common stock on Friday, with a share price of $23.00. New Relic’s New York Stock Exchange symbol will be NEWR.
According to the company’s latest SEC filing, it estimates to earn roughly $94.9 million from the sale of its common stock.
The application-performance management startup was founded in 2007 and claims it has 10,590 paid business accounts and 250,000 users as of September 30, 2014. It now has 524 employees.
According to the company’s S-1 form, the company took in $63.2 million in revenue for 2014, compared to $29.7 million in 2013. It counted $91.8 million for its 2014 operating expenses, which was quite a boost from 2013, which saw the company generating $47 million in expenses.