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Glu Mobile Inc. goes IPO
Thursday, March 22, 2007 Glu Mobile Inc., a San Mateo, Calif.-based mobile game publisher, priced 7.3 million common shares for $11.50 per share ($10-$12 range), for an IPO take of approximately $84 million. The IPO gives Glu Mobile an initial market cap of around $327 million. It will trade on the Nasdaq under ticker symbol GLUU, while Goldman Sachs and Lehman Brothers served as co-lead underwriters. The company had raised around $57 million in VC funding since its 2001 inception as Sorrent, from firms like New Enterprise Associates, BA Venture Partners, Globespan Capital Partners, Granite Global Ventures and Sienna Ventures. www.glu.com
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