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).
EV charging solution eDRV recently announced it closed a seed funding round. Bhaskar Deol, co-founder and CEO of eDRV, joined Cheddar News to explain how his company helps to launch and manage charging networks.
The Week's Top Stories is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street.
Mass layoffs continue to still be announced so far this year. Julie Bauke, chief career strategist with The Bauke Group, joined Cheddar News to provide tips on how to look for your next job after being laid off.
A report from financial services website Credit Summit found that 90 percent of Americans say they enjoy receiving gift cards but a staggering $21 billion locked inside them have gone unspent.
