Jive Software, which provides on-demand social business software to enterprises, raised $161 million by offering 13,439,600 shares at $12 per share, or 20% above the high end range of its proposed $8 to $10 price range. The company originally filed to sell 11,700,470 shares ($105 million deal size at the original midpoint). Existing shareholders sold 3,367,137 shares in the offering. The additional shares offered were all primary. Jive's two major venture backers, Sequoia and Kleiner Perkins, did not sell any shares and will own roughly 40% of the company post IPO.
Jive Software, which kicks off what could be the most active week for IPO activity of 2011, is expected to begin trading on Tuesday on the NASDAQ under the symbol JIVE. Morgan Stanley, Goldman, Sachs & Co., and Citi acted as lead managers on the deal.
