New York — Datadog, a software company that bet it could do better as a public company than in a Cisco Systems   buyout, jumped as much as 53% in its trading debut after raising $648m in its initial public offering.

Datadog shares, which opened at $40.35, were up 35% to $36.49 at 1.46pm in trading in New York. That gives it a market value of $10.54bn, about $3bn beyond the mark it had set earlier for its IPO...

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