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CrowdStrike stock nearly doubles after IPO, CEO compares security company to Salesforce and ServiceNow

CrowdStrike Holdings Inc. shares soared nearly 100% at times in their trading debut Wednesday, and the chief executive compared the cybersecurity company to cloud-software giants like Salesforce.com Inc. and ServiceNow Inc. while watching the stock’s huge first-day pop.

CrowdStrike CRWD, -5.03% priced an initial public offering Tuesday evening at $34, higher than the expected range. CrowdStrike sold at least 18 million shares at that price to raise more than $610 million at an initial valuation of about $6.7 billion. Underwriters — led by Goldman Sachs, JP Morgan, BofA Merrill Lynch and Barclays — had access to another 2.7 million shares, which could push the total raised to more than $700 million.

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