Jive Software is now trading on Nasdaq using the symbol JIVE, with a common stock price of $12 per share. Jive is the first enterprise social business software company to go public, Chairman and Chief Executive Tony Zingale said during a Dec. 13 press call.

Zingale pegged enterprise social as a $26 billion opportunity and the next big software category. He noted that Jive is well positioned in the market--citing its place in the Gartner Magic Quadrant and Forrester Wave--and said it will only continue to innovate and grow.

"We feel we're two years ahead of the closest competitor in terms of our platform," he said. "Obviously we raised a lot of capital today to invest in the company's product line and its go-to-market functions--sales and services."

In a backgrounder provided to members of the media, Jive said it will use approximately $20 million of the net proceeds it receives from the IPO to pay down outstanding loans. It will also dedicate some proceeds toward working capital and potential acquisitions.

Jive has been an acquisitive company in the past, noted Zingale. Without naming its targets, Zingale said Jive customers can expect to see more "technology tuck in" acquisitions in the future.

Click the audio player below to listen to the press briefing in its entirety.

For more:
- see the press release

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