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Impinj's History-Making IPO
- Aug 16, 2016 -

Impinj's History-Making IPO

Impinj, the Seattle-based manufacturer of passive ultrahigh-frequency (UHFradio frequency identification chips for both tags and readers, held a successful initial public offering (IPO). The company sold 4.8 million shares for $14, raising just over $67 million. Though other RFID companies have been publicly traded, Impinj made history by being the first RFID company to hold a successful, high-profile IPO.

Shares during the first day of trading rose 28 percent, suggesting investors are bullish on RFID (and rightly so, in my view). Whether shares will go up or down during the next few weeks, the listing of a pure-play RFID company on the NASDAQ exchange is likely to help other RFID firms. First, the raising of $60 million, while modest by Silicon Valley standards, is not chump change. It legitimizes the technology in the eyes of investors, and it gives other venture capitalists another exit strategy. Previously, the only option for a VC-backed startup was to be acquired.

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