Jive Software (JIVE) Inc. (JIVE), a maker of social-networking software for businesses, reached the highest since its initial public offering after a Barron’s story over the weekend highlighted its similarities to Facebook Inc.
Jive rose 8.6 percent to $18.54 at the close in New York. The Palo Alto, California-based company debuted Dec. 13 at $12 a share and has advanced 55 percent since then.
The company is tapping corporate demand for Facebook-style tools that help employees communicate internally and with customers. Jive, which added customers DirecTV and Allianz in the fourth quarter, bolstered spending on sales and marketing by 61 percent during the period.
Jive Software Reaches The Highest Since Its Initial Public Offering, Shares Advances 55 Percent Since Debut
Jive Reaches Post-IPO High On Similarity To Facebook: San Francisco Mover
