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Bandwidth Goes Public, Brings In $80 Million

Bandwidth Goes Public, Brings In $80 Million
Credit: bandwidth.com

After pricing its IPO at the bottom of the expected range at $20 per share, Bandwidth debuted on the Nasdaq, closing at $21.19 (up about six percent) on its first day of trading.

Bandwidth, founded in 1999, allows businesses to develop products with intelligent voice, messaging, 9-1-1 access, and phone number services through its own nationwide, all-IP voice network. According to the company, it is the only CPaaS provider in the industry with its own nationwide CLEC network.

The company may use a portion of the net proceeds for the acquisition of, or investment in, complementary technologies, solutions, or businesses.

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