SA国际传媒

Morning Report:聽After AppDynamics’ massive pre-IPO exit and enthusiastic market receptions to Snap and Mulesoft, Alteryx manages a modest debut.

Today, Alteryx began trading as a public company after selling 9 million shares of its equity , the highest end of its proposed range. In morning trading, the firm is currently聽up $1.62, or 11.57 percent.

That the company priced strongly and is north in early trading is positive At the same time, Alteryx’s IPO represents the most modest technology debut result of the year.

In fact, compared to the stunning valuation that Snap commanded despite staggering losses, or the revenue multiple that AppDynamics managed to snag while聽not going public, or Mulesoft’s over-range pricing and large pop, Alteryx’s results nearly seems downright conservative. But only when compared to outliers.

Treading back to the numbers, Alteryx’s market cap is a nudge over $905 million . That figure stacked against the company’s 2016 revenue result of $85.79 million gives the firm a revenue multiple of 10.5. That is nearly precisely double the price-sales multiple that Box currently commands: .

We can yammer about the differing growth rates that the two firms sport and how that should and does impact their revenue multiples, but Alteryx’s market cap shows that investor enthusiasm for its equity is strong (at least for today).

For still-unprofitable enterprise software shops growing over 50 percent per year at around the $100 million revenue mark, the IPO window is open鈥攑rovided your gross margins are solid and GAAP losses aren’t tracking your revenue.

And if that bar sounds too high for companies to muster to get out the door, what sort of companies were people building all this time when money was ample?

Today in the :

Amazon said to buy Souq for $650M

• Amazon.com is acquiring , the leading online shopping site in the Arab world, for $650 million in a bid to boost its Middle East business, TechCrunch . Dubai-based Souq previously raised more than $400 million from private investors, reportedly securing a valuation of $1 billion in its last funding round a year ago.

Alteryx shares rise in IPO

• , a provider of enterprise data analytics software, for its IPO at $14, the top of the projected range, raising $126 million. Shares of the Irvine, Calif.-based company were up about 20 percent in early trading this morning.

E-cig funding vaporizes as cannabis gains clout

• Funding for startups in the e-cigarette space seems to have disappeared in a cloud of smoke. Not a single company that mentioned tobacco, cigarettes or e-cigarettes in its SA国际传媒 profile raised a disclosed round in the past year, according to an . By contrast, at least 45 self-described cannabis companies did.