Guest Post LinkedIn’s massive 2x pop after going public this morning reflects that everyone, including the underwriters, seriously underestimated the demand for the shares. There was a time, especially during the .com, when underwriters such as Morgan Stanley would attempt to artificially go out the door with a low price in order to create a pop, but companies going public nowadays are much more sophisticated and discerning about leaving so much money on the table.
Shares of professional networking company LinkedIn are expected to start trading on Thursday, according to the Wall Street Journal and others.
Group-buying titan Groupon has taken further steps towards an initial public offering by selecting Goldman Sachs and Morgan Stanley to underwrite the offering, according to an article in the Wall Street Journal citing “people familiar with the matter.”
Update: Looks like this won’t happen after all. The House and Senate have passed a budget extension until next Friday, and Republicans and Democrats have agreed on the framework for the full budget. Despite last-minute negotiations, it looks like a shutdown of the federal government will happen after all. And that could be bad news for companies that are in the midst of an initial public offering, or are planning for one.
The initial public offering market for venture-backed companies in the first quarter was the strongest since 2007, according to a report by Thomson Reuters and the National Venture Capital Association.
Guest Post While we’ve seen a pickup in initial public offerings of late, most notably in Q4 2010 prior to the holiday slowdown, many people watching the market continue to expect muted IPO market prospects relative to the 1990s. Maybe that’s not such a bad thing. The last time there was anything approaching a positive consensus was early 2000, and we know how that ended.
Rovio just raised $42 million in venture capital funding a week ago. But the developer of the hot Angry Birds mobile game says it will likely go public in two to three years.
Fusion-io, a maker of super-fast flash memory modules, announced today that it has filed for an initial public offering. The company’s memory modules are becoming more and more important to the creation of faster and more power-efficient servers in corporate data centers.
It looks like online radio station Pandora, which just filed for its initial public offering, has some ambitious plans for the future.
Jim Breyer, one of Facebook’s earliest investors through venture firm Accel Partners, just talked to Bloomberg TV about LinkedIn’s recently announced initial public offering. He said that if he were in LinkedIn’s board of directors, he would have told the company to wait a little longer:
Since 2008, the initial public offering market for tech startups in the U.S. has been pretty dead. In 2010, 42 tech companies went public, compared to 17 the year before. But that pace is slow compared to past boom years.
A document sent to potential Facebook investors suggests that the social networking company intends hold its initial public offering by mid-2012, according to reports in The Wall Street Journal and The New York Times, though there still plenty of ambiguity about Facebook’s plans.
‘Tis the season for next-year forecasts, so VentureBeat asked a few cleantech venture capitalists for their thoughts on clean energy trends to watch in 2011.
Was there a clear signal when the British Empire was eclipsed by its colonies? When the New Economy pushed aside the old?
In years past, Silicon Valley companies were always in a rush to go public. But Yuri Milner, the founder of Russian investment firm DST, has found a niche in helping companies such as Facebook postpone their initial public offerings as long as possible.
Biofuels company Amyris had its IPO last week, and the results were considered a decent exit for some of its investors (mostly its early-stage ones). But don’t expect that to have any effect on fellow biomaterials IPO hopefuls Gevo and PetroAlgae or to give a lift to the lesser-known and struggling Butalco or Bioalgene.
Guest Post (Editor’s note: Jeff Bussgang is a General Partner at Flybridge Capital Partners. This column originally appeared on his blog Seeing Both Sides.)
Guest Post (Editor’s note: Serial entrepreneur Steve Blank is the author of Four Steps to the Epiphany. This column originally appeared on his blog.)
The economy may croak from the credit crunch, but public offerings and acquisition deals are happening at the fastest pace in years. The fourth quarter is going to be monster.