Elastic CEO on Going Public

Elastic (ESTC) , a technology company that specializes in search engines, had its initial public offering on Friday, Oct. 5 at the New York Stock Exchange.

TheStreet talked with founder and CEO Shay Banon about his company and the IPO.

“We are creating a difference and making a difference with what we build,” Banon told TheStreet.

The company opened trading at $36 a share, but popped up to around $70 a share by midday trading. The company was up over 96% heading into the market close.

Banon told TheStreet that the company has partnerships with Match Group’s Tinder (MTCH) . It is the software behind the users swiping left or right.

“While many may think of search as a “search box” with results that appear after typing in some keywords, search is much more. Search is dragging your finger across a map on your smartphone and watching it redraw itself as it shows new locations. Search is about selecting filters to group what you might like into specific categories. Search is also about visualizing billions of log messages in a histogram, forecasting data into the future, or using machine learning to spot bad actors in data,” wrote Elastic. “For our 5,500+ customers, search is essential to driving the best possible user experience, interaction, and monetization strategy, as well as, for solving the most complex business and IT challenges organizations face with their data.”

Watch to see what else Banon has to say.

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