Dot-com survivor CafePress is one of two tech ventures going public on Thursday.
NEW YORK (CNNMoney) -- Shares of mobile ad Millennial Media company more than doubled in their public debut Thursday.
Millennial (MM) priced its initial public offering at $13 per share, the high end of its range. Shares opened on the New York Stock Exchange on Thursday at $25, and they quickly rose to $27.50 each.
Millennial Media has quickly emerged as a competitor to behemoth rivals Apple (AAPL, Fortune 500) and Google (GOOG, Fortune 500). Facebook, which has dominated in display advertising, has so far ignored the mobile ad sector.
Also on tap for a Thursday IPO is CafePress (PRSS). The company, which prints custom designs on items like T-shirts and mugs, priced its IPO late Wednesday at $19 a share. That was above the $16 to $18 range the company had set previously.
CafePress, which was founded in 1999, will begin trading later Thursday on the tech-heavy Nasdaq.
CafePress and Millennial are just two of 10 companies expected to go public this week. On Wednesday, organic food company Annie's (BNNY) closed 89% higher after pricing at the top of its range.
Two other companies that went public Wednesday also surged. Vocera Communications (VCRA), a maker of health care technology, closed 32% higher, and consumer finance company Regional Management (RM) finished the day up nearly 10%.
Investors appear to have an insatiable appetite for IPOs this year. According to the New York Stock Exchange, the average return for IPOs on their first day of trading this year is 15%.?
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