Here comes PagerDuty, the 3rd unicorn IPO of the year … (PD)

PagerDuty is set to debut on the New York Stock Exchange Thursday with a valuation of $1.8 billion after pricing its initial public offering at $24 a share, above the range of $21 to $23 that had been expected. Early indications of a market opening are $30 to $32, more than 30% above the IPO price and a $2.4 billion valuation at the top-end of the range…

The cloud-computing company will be the third “unicorn” — or tech company with a valuation of $1 billion or more — to debut on the public markets this year. The IPO will raise up to $250 million if all shares are placed.

The upward pricing revision indicates the IPO market continues to be wide open despite the early trading difficulties of ride-sharing company Lyft, which has seen shares plunge more than 16% from its IPO price of $72. Lyft’s share price suffered in the wake of rival Uber’s announcement that it was seeking a “conservative” $100 billion valuation for its own IPO.

PagerDuty, which provides…

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