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Benefitfocus (NASDAQ:BNFT), which provides a cloud-based platform for employee benefits management, soared nearly 102% in its market debut on Wednesday, sliding into third place for best first-day return in 2013, behind Sprouts Farmers Market (NASDAQ:SFM) and Noodles & Company (NASDAQ:NDLS). The company raised $131 million after pricing at $26.50, well above its original range of $21.50 to $24.50. Benefitfocus has also earned the title of best first-day gain for a technology company in 2013, and joins three other enterprise software IPOs [Marketo (NASDAQ:MKTO), Tableau Software (NYSE:DATA), and Cvent (NYSE:CVT)] on 2013's list of top ten first-day performances.

Top 10 First-Day Returns in 2013
Company Ticker Industry Deal Size ($mm) First Day Return Total Return
Sprouts Farmers Market SFM Consumer $333 122.8% 125.3%
Noodles & Company NDLS Consumer $96 104.2% 152.8%
Benefitfocus BNFT Technology $131 102.1% 102.1%
Marketo MKTO Technology $79 77.7% 170.5%
Agios Pharmaceuticals AGIO Health Care $106 73.8% 50.7%
Tableau Software DATA Technology $254 63.7% 134.9%
OncoMed Pharmaceuticals OMED Health Care $82 59.9% -1.6%
Xoom XOOM Financial $101 59.3% 99.9%
bluebird bio BLUE Health Care $101 58.3% 59.1%
Cvent CVT Technology $118 56.8% 98.4%
Source: Benefitfocus Becomes The Next Hot Cloud Software IPO, Soars 102% In Market Debut