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).
Longtime CNN host Don Lemon is out at the cable news network a little over two months after apologizing to viewers for on-air comments about Republican presidential candidate Nikki Haley, CNN announced Monday.
The SAG-AFTRA National Board over the weekend voted unanimously to express solidarity with the Writers Guild of America and its plans to go on strike amid ongoing negotiations with studios and streamers.
Lila Snyder, CEO of Bose, joins Cheddar News anchor Hena Doba to discuss her journey to the top of the corporate world, the business of selling top of the line speakers, and how new technologies such as machine learning are shaking up the industry.
Stocks drifted ahead of reports that could offer clues on questions that have kept Wall Street at a standstill, including on where the economy and corporate profits are heading.
