Riverbed floats on Nasdaq

Networking vendor says channel have welcomed the move

WAN optimisation vendor Riverbed Technology has completed its initial public offering (IPO) on the Nasdaq Global Market.

CRN revealed earlier this month (CRN Online 4 September) that Riverbed would complete its IPO at the end of September.

Marcus Chambers, vice-president of sales for EMEA at Riverbed, told CRN at the time: "The channel has reacted positively to this [the IPO] as it validates Riverbed's technology. The IPO makes resellers feel that Riverbed will be around for a few years."

The vendor has listed of 8.7 million shares of its common stock at a price of $9.75 per share. Riverbed’s common stock will be listed on the Nasdaq Global Market under the symbol “RVBD” and has begun trading today.