There was many misreads of the Google IPO, the most important of which was how well it would subsequently perform. But one other received wisdom on the offering was that it would not usher in a a new and upbeat era of IPOs.
Well, wrong! According to stats cited in the The Deal today, only 11 companies filed to go public in April when Google registered — the low point for the year. This past month 32 companies will have made offerings, setting a high for 2004. (Overall the year looks even better, with 200 IPOs likely to have gone through, up from 68 last year.)
While correlation isn’t causation, I’m inclined to believe that the success of the Google public offering has made it at least a little easier for a host of technology companies to do a late-2004 IPO. The experts strike out again — and you can bet VCs and investment bankers are working overtime to get product into the launch chute.