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Convio Debuts In IPO

Austin-based Convio, a developer of software-as-a-service for managing nonprofits, debuted in its IPO on the Nasdaq Global Market Thursday morning at $9.00 a share, below its expected range of $10 to $12. The firm's stock was trading up $1.45 at $10.45 this morning. Convio's IPO was underwritten by Thomas Weisel Partners, Piper Jaffray, William Blair & Co., JMP Securities, and Pacific Crest Securities. The firm was venture backed by Granite Ventures, Austin Ventures, El Dorado Ventures, Adams Street Partners, Silverton Partners, Pacific Partners, Rembrandt Venture, and others.