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MuleSoft Inc. (NYSE: MULE) entered the markets with a bang on Friday in its initial public offering (IPO). The company priced its shares at $17 per share but actually entered the market 43.5% higher at $24.40. At the $17 price, the entire offering was valued up to $254.15 million. MuleSoft intended to price its 13 million shares in the range of $14 to $16 per share, with an overallotment option for an additional 1.95 million shares.

The underwriters for the offering are Goldman Sachs, JPMorgan, Merrill Lynch, Allen, Barclays, Jefferies, Canaccord Genuity, Piper Jaffray and William Blair.

MuleSoft is enabling a fundamental shift in organizations’ technology operating models and self-serve innovation by developers across the organization. Its customers use MuleSoft’s Anypoint Platform to connect their applications, data, and devices into an “application network” in which these IT assets are pluggable using application programming interfaces (APIs), instead of glued together with custom integration code.

The application network becomes an infrastructure of discoverable building blocks that can be used and reused to rapidly compose applications. Anypoint Platform is a single, unified platform that allows organizations to easily build and rapidly scale application networks. It enables customers to change and innovate faster by resolving the IT bottleneck and it speeds innovation by empowering developers to experiment and prototype new solutions, and freeing IT from writing manual integrations.

The Anypoint platform connects and exposes existing IT investments as nodes on the application network for continued reuse, which can dramatically increase the longevity of, and return on, these assets. Application networks built on Anypoint Platform increase in value as new nodes are added, resulting in network effects that drive increasing speed and agility and lower costs.

The company described its finances in the filing as follows:

Our revenue for 2014, 2015, and 2016 was $57.6 million, $110.3 million, and $187.7 million, respectively, representing a growth rate of 91% and 70%, respectively. We incurred net losses of $47.8 million, $65.4 million, and $49.6 million in 2014, 2015, and 2016, respectively.

It intends to use the net proceeds from the offering for general corporate purposes, including working capital, operating expenses and capital expenditures.

Shares of MuleSoft were last seen up more than 50% at $25.55, within a range of $24.26 to $25.92 on the day. So far about over 5 million shares have moved as well.