Tech companies continue to go public: Rubicon, 3Par, InternetBrands
Despite the rocky stock market lately, technology companies continue to go public, including Rubicon Technology and 3Par, which showed relatively strong results.
Rubicon Technology, a Franklin Park, Ill. company that makes materials for things light-emitting diodes (LEDs), saw its stock rise 25 percent after opening Friday, closing at $17.50 a share.
3Par, a Fremont, Calif., maker of storage systems for large companies, rose 13 percent to close at $15.75 a share. We’ve covered the company before (see… Continue Reading
3Par, the latest money-losing storage company, files for IPO
There was struggling Classmates.com.
Now it’s more data storage companies. They’re all losing money, but running like lemmings to go public before the IPO window shuts. The window of IPO opportunity is still open, but precariously so, because the liquidity crisis hitting the markets is making investors very nervous.
The latest is 3Par, of Fremont, which has filed to raise $100 million even though its losses are widening ($4.7 million in the quarter ending June 30,… Continue Reading
3PAR, data storage virtualization company, readying for IPO
3PAR, a Fremont, Calif. provider of data storage virtualization hardware and software, is apparently headed toward a public offering, revealing on its Web site that it is searching for someone to help it with the IPO registration process
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3PAR company chose the underwriters for its IPO “a month or two ago,” according to a market analyst cited by VentureWire (subcription required), which first reported the story this morning.
The company has raised $183 million in venture capital… Continue Reading