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Payments startup Marqeta valued at over $17 billion in Nasda

Shares of Marqeta Inc, which provides payments services to customers including Uber Technologies Inc and DoorDash Inc <DASH.N>, rose more than 2

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Payments startup Marqeta valued at over $17 billion in Nasdaq debut

Payments startup Marqeta valued at over $17 billion in Nasdaq debut
Reuters
3 hrs ago
© Reuters/DADO RUVIC
Illustration picture of Marqeta logo in front of displayed stock graph
By Echo Wang and David French (Reuters) -Shares of Marqeta Inc, which provides payments services to customers including Uber Technologies Inc and DoorDash Inc , rose more than 20% in their Nasdaq debut, giving the firm a market capitalization of over $17.2 billion.
The financial technology startup's stock opened at $32.50 on Wednesday, compared with its initial public offering (IPO) price of $27 per share. Marqeta's IPO was priced well above its target price range of $20 to $24 per share. The Oakland, California-based company sold 45.45 million shares in its IPO, raising about $1.2 billion. It had previously been backed by investors including Uber, Goldman Sachs Group Inc and Visa Inc.

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Payments startup Marqeta valued at over $17 bln in Nasdaq debut

2 minute read
Marqeta logo is seen on a smartphone in front of displayed stock graph in this illustration picture taken June 9, 2021. REUTERS/Dado Ruvic/Illustration
Shares of Marqeta Inc (MQ.O), which provides payments services to customers including Uber Technologies Inc (UBER.N) and DoorDashInc, rose more than 20% in their Nasdaq debut, giving the firm a market capitalization of over $17.2 billion.
The financial technology startup's stock opened at $32.50 on Wednesday, compared with its initial public offering (IPO) price of $27 per share. Marqeta's IPO was priced well above its target price range of $20 to $24 per share.
The Oakland, California-based company sold 45.45 million shares in its IPO, raising about $1.2 billion. It had previously been backed by investors including Uber, Goldman Sachs Group Inc and Visa Inc (V.N).

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Payments startup Marqeta valued at over US$17 billion in Nasdaq debut

Payments startup Marqeta valued at over US$17 billion in Nasdaq debut
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Payments startup Marqeta valued at over US$17 billion in Nasdaq debut
Shares of Marqeta Inc, which counts Uber Technologies Inc and hedge fund Coatue among its investors, rose more than 20per cent in their Nasdaq debut, giving the payments startup a market capitalization of over US$17.2 billion.
Marqeta logo is seen on a smartphone in front of displayed stock graph in this illustration picture taken June 9, 2021. REUTERS/Dado Ruvic/Illustration
09 Jun 2021 10:55PM
(Updated:
10 Jun 2021 01:05AM)
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REUTERS: Shares of Marqeta Inc, which counts Uber Technologies Inc and hedge fund Coatue among its investors, rose more than 20per cent in their Nasdaq debut, giving the payments startup a market capitalization of over US$17.2 billion.

California , United-states , Bengaluru , Karnataka , India , Oakland , Shinjini-ganguli , Sohini-podder , Marqeta-inc , Uruguay-dlocal-ltd , Goldman-sachs , Uber-technologies-inc