Datto Founder McChord Says MSPs ‘Made This Possible’ On First Day Of Trading

‘I just want this community to know I haven’t forgotten what made this possible. Thank You’,’ Datto, Inc. founder and board member Austin McChord wrote to MSPs on Reddit.

Shares of Datto shot up nearly 20 percent during its first day of trading, and closed marginally higher.

The Norwalk, Conn.-based provider of cloud-based tools to MSPs – which hoped to raise $594 million from the IPO – closed its first day trading at $27.10. However shares reached $32.36 during the day, an increase of 19.85 percent.

Datto founder and board member Austin McChord took to Reddit to thank MSPs on the company’s first day listed on New York Stock Exchange.

“I just wanted to take moment to say thank you to all the MSPs and the community that made Datto possible,” he wrote. “When I founded the company I had no idea about this community but in finding it you taught me so much.”

McChord created the company’s first product in a Connecticut basement, and founded Datto as a backup and storage company in 2007. The company was purchased by Vista Equity Partners in December 2017, and merged with PSA tool Autotask to create an all-in-one rival to other platform providers such as Kaseya, ConnectWise, and Solarwinds MSP.

“I remember those early HTG dinners, and the long nights on some painful support calls,” McChord wrote. “We were so far from perfect, but same as today always trying to get better. So many trials and tribulations, so many times it felt like we weren’t going to make it. But somehow we did. I just want this community to know I haven’t forgotten what made this possible. Thank You.”

McChord reassured one Reddit user who feared the company could change for the worse if investors focused too much on profit and not enough on product.

“I am still a member of the board and a large shareholder,” McChord wrote. “Datto will continue to focus on the same things that made it possible for us to get here, I don’t see that changing.”

Praise for the listing poured in across social media as LinkedIn users gushed over the deal.

“Congrats to Austin McChord, (Datto SVP of Business Development) Rob Rae, and the rest of the Datto, Inc. team,” wrote Jim Turner, president and chief sales officer for Hilltop Consultants Inc., a Washington, D.C. area MSP. “Hilltop Consultants, Inc. has never regretted our partnership.”

Datto colleagues also chimed in.

“Could not be more proud of all of my colleagues and incredible Partners who have made this happen. So grateful to be a part of this next phase of Datto, Inc.‘s story,” wrote channel account manager Victoria Lomax. “It feels like the first day of DattoCon... and if you don’t know how that feels you really need to get to the next one!!!!”