HITTING THE EXITS: VC Backed IPO’s state-by-state
A quick review of Q1 IPO results for VC-backed investments: There were 16 VC backed IPO’s in Q1. Ten were based in California, one in Florida, one in Maryland, three in Massachusetts. IPO Companies and headquarter locations:
Accuray Sunnyvale, CA
Aruba Networks Sunnyvale, CA
BigBand Networks, Inc. Redwood City, CA
Glu Mobile San Mateo, CA
GSI Technology Santa Clara, CA
Mellanox Technologies Inc. Santa Clara, CA
Oculus: Petaluma, CA
Optimer Pharmaceuticals Corp. San Diego, CA
SenoRx Aliso Viejo, CA
Xtent: Menlo Park, CA
Switch & Data Facilities Co. Tampa, FL
Sourcefire Columbia, MD
Molecular Insight Pharmaceuticals Cambridge, MA
Salary.com Waltham, MA
Synta Pharmceuticals Lexington, MA
More complete data from PE Hub includes the VC backers of each IPO.
The best IPO quarter since 2000 overall, and a reasonable showing for VC backed IPO’s, but it is difficult to tell what kind of momentum is being carried into Q2. There are just two deals on the calendar for this week. And it’s not just the recent issues in the technology markets causing the near term uncertainty…
From Red Herring March 30th –
“This brings us to the present. The second-quarter IPO market is barely getting out the door. Bankers have just one deal on the calendar. No, make it two, if you wish to include last week’s “blank check” carryover. There’s a reason. For the first time in years, two major religious holidays have converged in the spring to give Wall Street an extended break. They bookend the week. Passover begins at sundown on Monday. The markets are closed for Good Friday. For all intents and purposes, the IPO production line is open for one day. Whatever deal that goes public will have to be priced Wednesday evening and trade in Thursday’s market.”
It will be interesting to see how the quarter develops.
-John Reed