Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
WALTHAM, Mass. (AP) - Care.com Inc. shares are soaring in their market debut Friday.
The company, based in Waltham, Mass., runs an online service to help people find and manage family care. That includes child care, senior care and special needs care, as well as pet care, tutoring, and housekeeping.
Care.com raised nearly $91 million, pricing its offering of 5.35 million shares at $17 each, above an expected range of $14 to $16. By midmorning, its shares had gained 29 percent to reach $21.92 while the broader markets slumped.
Care.com has also given underwriters the option purchase up to 802,500 more shares in case of strong demand.
The company's stock is listed on the New York Stock Exchange under the ticker symbol "CRCM".
(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
