DigitalOcean stock falls after raising $775M in IPO
March 25, 2021
Shares of DigitalOcean slid 9.6% to end at $42.50 in the cloud company's NYSE debut Wednesday. The New York-based company raised $775 million in its IPO and had a market cap of around $4.5 billion based on the shares outstanding at the closing price. Len Blavatnik's Access Industries is DigitalOcean's largest investor, with a 22% stake controlled through a subsidiary, followed by Andreessen Horowitz (15%) and IA Ventures (14%).