Anaplan (PLAN) began trading on the NYSE on 12 October 2018

Anaplan is a cloud-based business planning and performance management platform based on a single hub where business users can create and use models.  In the Anaplan IPO prospectus, the San Francisco-based company calls itself a pioneer in a category it calls connected planning, helping companies make better and faster decisions.

• Founded in the United Kingdom, the company is now headquartered in San Francisco, CA.
• The software company brought on its chief financial officer just a few weeks ago.
• As of July 31, Anaplan had 979 customers using its platform. Customers include Coca-Cola (KO), VMware (VMW) and HP Inc. (HPQ)
• Founded: 2006
• anaplan.com

Anaplan opened for trading at $24.25 after IPO priced at $17.00

Frank Calderoni, president and chief executive officer of Anaplan Inc., center, rings the opening bell during the company’s initial public offering (IPO) on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Friday, Oct. 12, 2018. 

Anaplan shares jumped nearly 43 percent to $24.30 by the end of the first day of trading, giving the company a market capitalization of almost $3 billion. Anaplan said Thursday night that it raised $263.5 million in the offering, selling shares at $17 a piece.

CEO Frank Calderoni told CNBC’s “Squawk Alley ” that the company did not consider delaying the IPO amid the market rout, which sent the Nasdaq to its lowest close since May on Thursday. He said that business remains strong and that the company has almost 1,000 customers, including some companies with tens of thousands of users.

Anaplan benefited from a broader market rebound on Friday, with the Nasdaq climbing 2.3 percent.

Anaplan joins a crop of emerging software companies that have hit the public markets in 2018, including DocuSign, Dropbox, Elastic and Smartsheet. Market volatility hasn’t been of much concern for those companies, as tech stocks have generally trended up throughout the year. But this week’s turmoil led some companies to delay their offerings, most notably Tencent Music.

Founded in 2008, Anaplan sells cloud-based software that companies use for business planning. Competitors include IBM, Oracle and SAP.

In addition to leading the company, for a few months Calderoni also served as interim chief financial officer. Last month, Anaplan hired Dave Morton as CFO after a stint at Tesla that lasted just a few weeks.