Add Braze and Sweetgreen to the list of 2021’s hot IPOs. Cloud-based digital marketing platform Braze (BRZE) finished its first trading day on the Nasdaq up 44% while bougie salad chain Sweetgreen (SG) popped 77% on its New York Stock Exchange debut.
New York-based Braze was founded in 2011 and now has offices in San Francisco, London, Singapore, Chicago, and Tokyo. Braze gives companies like Domino’s Pizza (DPZ), Urban Outfitters (URBN), and Grubhub (GRUB) the tools they need to find, analyze, and target their customers with marketing messages online.
Sweetgreen was founded back in 2007 by three Georgetown University graduates fresh out of business school. The trendy fast-food chain now serves tasty salads out of 122 stores in twelve different states. Earlier this year, Sweetgreen scored a partnership with tennis star Naomi Osaka and dedicated a menu item to her called the “Naomi Osaka Bowl”.
why it matters
Both Braze and Sweetgreen have so far held their IPO gains. After debuting at $65 a share, Braze finished last week at more than $94 a share, while Sweetgreen opened at $28 and closed Friday at an even $53.