There have been 36 IPOs in the past two months. Not all proven to live up to expectations, but some managed to go as far as surpass them – as in the case of LinkedIn, Russian search engine Yandex, and most recently Fusion-io. Fusion-io sells flash-based server accelerators that offer up to 10x performance with lowered power consumption.

Fusion-io sold a total of 10.8 million stocks while shareholders sold 1.5. Late Wednesday the company raised the price of its shares to $19, and by Thursday morning the stock opened at $25 followed by a peak of $33 and a price of $22.5 by the time the trading session ended.

“Fusion-io sold 10.8 million shares, while shareholders put up 1.5 million. In total, the company raised $233.7 million through the IPO.”

The company now trading under the ticker FIO  is valued at just over $1.8 billion – a pretty good figure compared to initial estimates forecasting a maximum of about $1.1 billion.

There is a reason Fusion-io got to where it is – mainly because, as Forbes highlighted, the company’s offering  is superior to those provided by some of the more traditional players. T5he ioDrive is designed to support the “next generations applications” such as social networks – a perk that explains why Facebook is by far the company’s biggest customer.

Fusion-io revealed this piece of information along with others in its initial filing with the SEC. It also detailed how its top 10 customers account for 91 percent of all revenue, and set a price range of  $13 to $15. In an update to the filing Fusion-io raised this range to $16-$18, meaning at the time it was valuated at around $1.4 billion – still much less than the current $1.8 billion.