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Top IPO Contenders in 2010

Posted in Board Of Intellectual Capital, tagged , , , , , , , , , , , , , , , , , , , , , on March 4, 2010| Leave a Comment »

Here is an Article worth reading from Ajax World Magazine.

“As we start this year, hope is mounting on a vibrant IPO market, better than last couple of years. This article lists 20 companies that are hot candidates for IPO. The list has some well-known names like Facebook, Skype, LinkedIn, Twitter, Digg, Yelp, LiveOps, and Tesla Motors. The less known names are – Associated Content, Brightcove, Chegg, Demand Media Etsy, Exact Target, Gilt Group, Glam Media, Rearden Commerce, Workday, and Zynga.

Workday is the new company founded by Peoplesoft founder David Duffield. It’s a SaaS-based HR and ERP company. Zynga is a hot company in the virtual gaming space on the Internet. It’s famous game Farmville is raking in good revenue from Facebook users. I hear the game is quite addictive.

Twitter is rumored to be valued at billion plus dollars, that with very little revenue. It has the publish-subscribe model where conversations-by-subject can be tracked. That should be a bonanza for marketers,  seeking specific target audiences.

Most of the companies in the list are addressing “content” either the discovery or the publishing of. We don’t see the old-fashioned enterprise applications anywhere, a reflection of the changing times. Workday is in that category, but purely cloud-based offering just like SalesForce.com few years back.

Companies like LinkedIn, Facebook, Twitter, and Skype brag huge number of eyeballs (users), bringing back memories of the dot.com days. Jeff Bezos in the height of the boom had said, “I spell profit as prophet”.

Let us get back to some crazy wealth-creation via IPOs. It’s about time.”

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Trouble Brewing for Cleantech IPOs?

Posted in Board Of Intellectual Capital, Business models, cleantech, tagged , , , , , on February 5, 2010| Leave a Comment »

Here is an interresting article from Seeking Alpha.

“By Rob Day

Haven’t had much time to go through the various recent cleantech IPO filings, and so haven’t talked about them much. Also just generally hoping they do well, for the sake of the overall industry.

But in a meeting today someone put up some stats that were pretty sobering.

Taking a basket of 4 high profile recent IPOs and filings, the total across the four companies was:

– Trailing twelve month revenues = $319M

– Trailing twelve month EBITDA = -($343M)

– Total venture dollars put into all four companies to date = approximately $1.5B

Like I said, I hope all of these companies do well and grow into great companies. But this type of profile for IPO isn’t the norm. So you have to wonder about it.

Someone today mentioned that they think these companies have to IPO now because they need yet more capital and the private equity world is tapped out. I disagree, I think companies with prospects like these would be able to raise more capital, if not from traditional VCs, then from non-traditional private equity players. Cleantech private equity is down, but far from tapped out.”

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IPO VIEW-Tech deals lead IPO recovery

Posted in Board Of Intellectual Capital, Business models, Economy, Gerbsman Partners, Investments, IPO news, Market research, Strategy, Technology, Venture Capital, tagged , , , , , , , , , , , , , , , , on December 1, 2009| Leave a Comment »

Here are some interesting stats on IPO´s from Forbes.

“More technology companies went public this year despite a world economy still trying to find its footing, and that is a good sign the pace of tech initial public offerings might accelerate in 2010.

Ten tech companies have gone public so far this year, raising $3.8 billion. In 2008, there were three offerings that raised $749.2 million, according to Thomson Reuters data.

Tech deals account for the biggest number of IPOs so far this year and are second only to finance deals in value.

‘We’ve been expecting an uptick in technology because it has really been underrepresented in the market over the last few years,’ said Paul Bard, a research analyst at Connecticut-based Renaissance Capital.

There could be 40 to 50 tech IPOs next year, raising $4 or $5 billion, Bard said.

Tech IPOs did well in 2007, but nearly shut down when financial markets collapsed last year. Getting more small, high-growth tech companies into the IPO mix would be a major engine for jobs and a boon for investors, analysts said.

‘If they’re done right, tech IPOs historically have had the greatest increase in revenues and profits of all IPOs,’ said Scott Sweet, senior managing partner at IPO Boutique.

Three technology companies filed for IPOs this week.

Netherlands-based Sensata Technologies Holding B.V. on Wednesday filed an offering worth up to $500 million. The firm, whose customers include BMW, Huawei Technologies Co Ltd and Samsung, makes sensors and other industrial technology.

Chipmaker Telegent Systems Inc filed for a deal worth as much as $250 million, and software maker RedPrairie Holding Inc said it would try to raise $172.5 million in its IPO.

‘There is an enormous amount of capital on the sidelines right now, in mutual funds and hedge funds, looking to make high-return investments as they would find in technology IPOs,’ said America’s Growth Capital Chief Executive Ben Howe.

Howe warned that investors have become more cautious and companies without strong balance sheets could meet a lukewarm response. A good idea used to be enough for a tech company to go public, he said, but the financial crisis has changed that.

Sensata, which filed for the largest IPO this week, posted revenues of $796.9 million in the nine months ended Sept. 30, down 31 percent from $1.2 billion a year ago. In the same period it narrowed its net loss to $41.6 million from $82.3 million.”

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A123’s smash-hit IPO could herald more green debuts

Posted in Board Of Intellectual Capital, tagged , , , , , , , , , , , , , , , , , , on September 28, 2009| Leave a Comment »

I think that we last week saw a start of a new boom, A123 soured on the IPO, and many candidates are waiting in line. Here is piece on the issue from Reuters.

“SAN FRANCISCO, Sept 24 (Reuters) – A 50 percent leap in the shares of lithium-ion battery maker A123 Systems Inc (AONE.O) on their first day of trading looks likely to jumpstart the market for clean-tech share offerings.

The Watertown, Mass.-based A123 Systems is now worth over $1.9 billion, a striking valuation for a company that has yet to make a profit and still needs large-scale commercialization.

Industry executives and experts said A123’s success shows investors have an appetite for green technology companies that lose money, but have tremendous potential.

So the stock’s first day jump, which is the second-best performance for a debut stock in 2009, should encourage more venture capital-backed clean technology companies to go public, they added.

“This is an interesting time for the market because there are several (clean-tech) companies that have been growing very nicely,” said Faysal Sohail, managing director of venture fund CMEA Capital, which is an investor in A123.

Sohail declined to comment specifically on A123, but said the whole environment is creating opportunities for clean-tech companies and expects 2010 to be a busy year for green IPOs.

“They are real companies with substantial revenue and growing at a very fast clip,” he said.

CMEA Capital also backs companies such as Silicon Valley solar manufacturer Solyndra and biofuel company Codexis, which many see as likely candidates for the IPO market.

Other green companies deemed ripe for an IPO include smart grid network company Silver Spring Networks, electric carmaker Tesla Motors and solar thermal company BrightSource Energy.”

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More IPO gossip, new prospects include: Greenplum, LinkedIn, Pacific Biosciences and Zynga

Posted in Board Of Intellectual Capital, boic, Business models, Market research, Strategy, tagged , , , , , , , , , , , , , , , , , , , , , , on August 27, 2009| Leave a Comment »

Here is a recent article from CNN.

“If you have been an investor in technology IPOs in recent months you’ve done well.

Starting in April, and really gathering momentum this summer, there has been a slew of tech companies that leapt through the public market window including Changyou (CYOU), Rosetta Stone (RST), OpenTable (OPEN), and most recently Emdeon (EM).”

The article continues,

“Right now in Silicon Valley, investment bankers are busy making the rounds of promising portfolio companies trying to convince them of the wisdom of an IPO. There is always the question of what kind of company can – or should – go public. During the last wave of tech IPOs, after the dotcom bust, the rule of thumb was that firms with $100 million in revenue and profitability were IPO candidates.

Investment bankers on the prowl in Silicon Valley

Now, according to one prominent venture capitalist who asked to remain anonymous, investment bankers are telling him, “If a company can show revenue of $15 million per quarter, a good business model – and if not profitability, a path to profits – they can deliver an oversubscribed offering.” (One wonders wonder whether these simply are investment bankers who have had nothing to do for the last 12 months, trying to make their bonus figures.)

Venture capitalists have not had much to be happy about, either. It wasn’t just IPOs, but acquisitions that came to a screeching halt during the recession. Both of these groups desperately want the IPO window to stay open, and so far it is.”

And concludes,

“In Google’s day it was bulge-bracket investment banks – Morgan Stanley (MS), CSFB (CS), Goldman (GS), Lehman Bros or no one. The economics of the banks (characterized as going “down-market” to even do $500 million IPOs) required bigger deals. Today’s deals, with their much more modest size, are better tailored for the boutique banks – Thomas Weisel Partners, Jeffries, JMP Securities, Piper Jaffray, and the like. These are the banks pounding the streets in Silicon Valley the hardest.

Could it all end badly? Of course, and usually it does when the rush toward IPOs at some point sends half-baked companies into the public markets and they tank. But between now and then we are likely to see a group of very high quality tech companies look to go public – think Greenplum, LinkedIn, Pacific Biosciences and Zynga among many others.

For those investors with the stomach, it might not get much better.”

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