Restaurant-software maker Toast valued at nearly $33 billion as shares surge in debut

Chris Comparato, CEO of Toast Inc, and Toast Inc. co-Founder Steve Fredette attend their company’s IPO at the New York Stock Exchange (NYSE) in New York City, U.S., September 22, 2021. REUTERS/Brendan McDermid

(Reuters) -Toast Inc fetched a valuation of nearly $33 billion in its New York Stock Exchange debut on Wednesday, as shares of the restaurant software provider jumped 63%, underscoring a deep investor appetite for fast-growing software firms.

The stock opened at $65.26, compared with its initial public offering price of $40 per share. The valuation marked a substantial jump from the company's last private funding round when it was valued at $4.9 billion in February 2020.