Starent - Top U.S. Wireless IPOs in 2007

Symbol: STAR
Hometown: Tewksbury, MA
Website: www.starentnetworks.com
Founded: 2000
Employees: N/A
Date of IPO: June 5, 2007
Shares: 10.5 million
Offer price: $12
Underwriters: Goldman Sachs, Lehman Brothers

The company's background: Starent is an infrastructure software developer that focuses on packet core platforms for delivering multimedia services. Sixty mobile network providers worldwide and 30 carrier networks in the U.S. use Starent's products, including Verizon Wireless, U.S. Cellular and Virgin Mobile USA. These carriers use Starent's software to provision services and applications like video, Internet access, mobile TV and gaming. Some of Starent's investors include T-Mobile Venture Fund, Samsungs Ventures America, Matrix Partners, North Bridge Venture Partners and Highland Capital Partners.

How did the IPO go? Starent may have had the best IPO of any wireless company on this list in terms of meeting and exceeding expectations: While the company expected to sell shares for between $9 and $11, it actually sold 10.5 million shares for $12 each, which helped it raise $126.4 million and gave it a market cap of $749 million at the time. The company's share price is still well above the IPO: It's around $24.40 at the time of this writing.

Starent - Top U.S. Wireless IPOs in 2007
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