My 2007 IPO Thesis: Part XXIV in a Series

More info, via Om, on the turnaround in the tech IPO market:

  • The deal volume is on the up, and there are six companies out raising money.
  • Of the 23 IPOs (year-to-date), 19 are above issue price.
  • Four deals done in June 2007 (including Infinera) are up average of 28%.
  • The average deal size has been $150mm and the median $100mm.
  • 12 companies that went public were coming off an unprofitable year.
  • The average market cap at IPO was $722 million nd the median $521 million.
  • 10 of the 23 deals are communications related, including two of the semiconductor deals.

[Deutsche Bank via Om]


  1. While I think you are right about this, and you’ve been prattling / predicting IPO resurgence for most of a year now, it also strikes me as similar to Terry Semel getting too much credit for Yahoo’s turn-around back in 2003.
    I mean, eventually, the IPO market had to come off the floor, right?
    And looking at the stats, the magnitude of the IPO recovery seems lower than your predictictions intimated.
    In other PK prediction news, I think GOOG has crossed over YHOO for 2007 relative performance…