V-cube, a Japan-based provider of web-based video conferencing, which is backed by Intel Capital, raised JPY4.4bn ($43m) in an initial public offering (IPO) on the Tokyo Stock Exchange on 10 December. V-cube’s share price opened at JPY5,010 per share – 51% above the IPO price.
V-cube was founded in 1998 and received funding from Intel Capital, the corporate venturing and strategic investment unit of semiconductor chip maker Intel, in 2009. Prior to the IPO, Intel owned 16.91% of the company, now reduced to 9.89%.
According to Intel Capital, V-cube is the sixth Intel Capital portfolio company to list in 2013.