Shares of Organic Inc. (ORGN) were up 113 percent in Thursday trading after the company launched its initial public offering.
Opening at $20 per share, the San Francisco-based company saw its stock soar $22.50 per share to $42.50 in early afternoon trading.
Organic is another Internet consulting firm hoping to follow in the footsteps of Web integrators Razorfish Inc. and Scient Corp.
Organic, which offers Web site design, consulting and software, raised the projected price range of the 5.5 million shares being offered to $20 from $12 to $14, indicating strong demand.
Ad giant Omnicom Group holds a 24.7 percent stake in Organic after after the IPO. The agency already owns significant shares in other e-service players, including Razorfish and Agency.com.
The offering was led by underwriter Goldman, Sachs & Co.
Know a hot stock in the e-business sector? Send ideas for the CRN E-Biz Stock Daily to .
|
Five Companies That Dropped The Ball This Week For the week ending Feb. 10, CRN looks at five companies that were either asleep at the wheel or just didn't make good decisions. |
|
Five Companies That Came To Win This Week For the week ending Feb. 10, CRN looks at five companies that brought their 'A' game and made moves to beat out competitors |
|
10 Challenges That HP Wants Partners To Tackle Right Now CRN speaks with HP's business unit chiefs to get a sense of where they'd like partners to focus in the coming year, as well as how CEO Meg Whitman is making a difference. |
 More
Slide Shows |
