*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).

Share:
More In Business
Missed Out on Nvidia? Consider These 5 Chip Stocks Instead
Missed out on the Nvidia wave? Oh course you did — you’re reading this article aren’t you, instead of luxuriating on a white-sand beaches of Bali. But here are at least four other promising semiconductor stocks to add to your portfolio.
Building Lapse, a New Social Media App
Fresh off a successful funding round, co-founder of Lapse Dan Silvertown shares thoughts on regulation, privacy, and why the money for great startups is still out there.
Using A.I. to Improve Homebuying
Shubha Dasgupta, CEO of Pineapple Financial, discusses incorporating artificial intelligence with its newly announced ‘Maui’ tool, plus plans for expansion.
Load More