Apigee opened trading by ringing NASDAQ's bell this morning, and became the second Silicon Valley tech company to announce an initial public offering (IPO) in 2015, the other one being Box.

Apigee shares (now going under the symbol APIC — no relation to the Cisco product) are slightly up following the API management company's announcement.

Apigee shares priced at $17 and opened today at $20 — putting Apigee's valuation just shy of $600 million. The company was reportedly aiming for $700 million.

At press time, the company's share price had leveled out to $17.50, a gain of about 3 percent from the IPO price.

(Photo courtesy Nasdaq.)