Despite a reported $7 billion buyout attempt by Cisco, Datadog raised $648 million in its initial public offering selling 24 million shares for $27 each. The IPO values Datadog at $7.8 billion.

The monitoring and analytics company’s shares began trading on the Nasdaq this morning under the symbol “DDOG.”

In the weeks before its public debut, however, Cisco approached Datadog with a buyout offer, according to Bloomberg. That report said Cisco offered “significantly higher than the $7 billion valuation” that Datadog targeted in its IPO. The software company turned down Cisco because it believes it will be worth more than that as a public company, Bloomberg reported, citing anonymous sources.

Cisco and Datadog did not immediately respond to requests for comment.

In earlier documents filed with the U.S. Securities and Exchange Commission, Datadog reported a 97% jump in revenue growth from $100.8 million in 2017 to $198.1 million in 2018. More recently, revenues surged from $85.4 million in the first half of 2018 to $153.3 million in the first half of 2019.

The company also acquired Paris-based startup Madumbo earlier this year for its artificial intelligence (AI)-based application testing platform. Terms of the deal were not disclosed.

Datadog’s IPO comes just days after Cloudflare raised $525 million in its IPO last Friday in what’s turning out to be a very good year for technology companies looking to go public. Last month Datadog competitor Dynatrace raised $544 million in its IPO.