Weave sold its software to a customer most tech companies ignore: the front desk of a dental office. Its system showed the patient's name and history the moment the phone rang. It sent appointment reminders by text, asked for reviews, and took payments. The Utah company built a business around small medical offices. When it went public in November 2021, it priced below its range, and its stock fell 22 percent on day one.

Built for the Front Desk

Weave was founded in 2008 and grew up in Lehi, Utah, in the tech corridor known as Silicon Slopes. The bet was that small practices wasted time juggling phones, paper, and separate tools. Weave tied its phone system to the practice's patient records, so staff knew who was calling before they picked up. Dentists came first. Optometrists, veterinarians, and other specialty clinics followed.

A Rough First Day

Weave priced at $24 a share on November 10, 2021, below its expected range, and listed on the New York Stock Exchange as WEAV. Its shares fell about 22 percent in the first session. The stock spent the following year far below its offer price as the market turned on unprofitable software companies. Weave still trades on the NYSE under WEAV.

Cover: Woman Spinning, Jacques Adrien Lavieille. Art Institute of Chicago, public domain. Chosen for a woman spinning thread (weave).