CEO of Cloud Software Company Anaplan on Stock's NYSE Debut
*By Christian Smith*
Shares of Anaplan soared after the cloud software company began trading on the New York Stock Exchange on Friday, despite making its debut at the tail end of one of the worst weeks for tech stocks in months.
Frank Calderoni, the CEO of Anaplan ($PLAN), attributed the stock's success to his company's sterling reputation among big businesses.
"It really shows that Anaplan, our platform, is really established in the business community to help them better make decisions in doing what they do," Calderoni said Friday in an interview on Cheddar.
Shares of Anaplan hit a high of over $24 per share after pricing shares at $17 apiece.
The company provides cloud-based enterprise software for financial and operations planning. It primarily targets mid- to large-sized clients, including HP ($HPQ) and Coca-Cola ($KO).
Through the IPO, Anaplan raised over $250 million in capital, which Calderoni said will be used to build new technology and invest in more foreign markets ー which already account for 40 percent of Anaplan's revenue.
"We're continuing to invest in our technology, so that we can keep it fresh and innovative over the next number of years," Calderoni said.
For full interview [click here](https://cheddar.com/videos/anaplan-soars-on-first-day-of-trading).
The Biden administration has enacted a new labor rule that aims to prevent the misclassification of workers as independent contractors. The labor department rule going into effect Tuesday replaces a scrapped Trump-era standard that lowered the bar for classifying employees as contractors
The KC-46 was to be the ideal candidate for a fixed-price development program. Instead, it has cost Boeing billions, and made industry wary of such deals.
Dave Long, CEO and Co-Founder of Orangetheory Fitness joins Cheddar to chat trends in the industry for 2024. He updates us on the company's plans to expand and what the state of the economy has meant for business.
One of the world's largest renewable energy developers will be getting hundreds of wind turbines from General Electric spinoff GE Vernova as part of a record equipment order and long-term service deal.
A moon landing attempt by a private US company appears doomed because of a fuel leak on the newly launched spacecraft. Astrobotic Technology managed to orient the lander toward the sun Monday so its solar panel could capture sunlight and charge its onboard battery.
Treasury Secretary Janet Yellen has announced that 100,000 businesses have signed up for a new database that collects ownership information intended to help unmask shell company owners. Yellen says the database will send the message that “the United States is not a haven for dirty money.”
A new version of the federal student aid application known as the FAFSA is available for the 2024-2025 school year, but only on a limited basis as the U.S. Department of Education works on a redesign meant to make it easier to apply.
A steep budget deficit caused by plummeting tax revenues and escalating school voucher costs will be in focus Monday as Democratic Gov. Katie Hobbs and the Republican-controlled Arizona Legislature return for a new session at the state Capitol.
The first U.S. lunar lander in more than 50 years is on its way to the moon. The private lander from Astrobotic Technology blasted off Monday from Cape Canaveral, Florida, catching a ride on United Launch Alliance's brand new rocket Vulcan.
