The Alphabet and Dell-backed cloud security software provider saw its stock more than double on the first day of trading and now has a market cap of almost $3.9bn.
Zscaler, a US-based enterprise security software producer backed by internet and technology group Alphabet and computing equipment producer Dell, secured $192m in its initial public offering on Friday.
The company issued 12 million shares on the Nasdaq Global Market priced at $16 each, significantly above the $10 to $12 range it had set. Its shares opened at $27.50 on Friday and closed at $33.00, giving it a market capitalisation of almost $3.9bn.
Founded in 2007, Zscaler has built a…
