Rocket Fuel Takes Off In IPO Debut

Redwood Shores-based Rocket Fuel, which develops digital advertising software, has surged over 90% in its IPO this morning, trading as high as $62.50 per share, after pricing last night at $29.00 per share. The company is now trading on the NASDAQ Global Market as FUEL. The company is venture backed by Mohr Davidow Ventures, Nokia Growth Partners, Northgate Capital, Labrador Ventures, and others. The company had already priced above its initial IPO range, which had been $24.00 to $27.00 per share.