A Quick Look at the IPO Pipeline

You’d need a crystal ball to know how healthy the IPO market will be in 2013. Still, industry watchers – looking at the 152 active IPOs in the pipeline, versus the 226 IPOs in the pipeline at this time last year — feel safe in making a few, cautious forecasts.

The Next Amazon? Don’t Bet On It

Groupon is a lot things: ambitious, audacious. Tomorrow, it will be a public company, too. But investors should be very wary about assuming Groupon is the next Amazon. Despite the many times the analogy has been drawn, including by Groupon’s management and investment bankers, nothing could be further from the truth. A Bloomberg article published […]

Between a Rock and a Hard Place: Mark Pincus Puts the Squeeze on His Investors

While Groupon’s Andrew Mason takes a drubbing, another CEO is apparently having a very good week. According to a document obtained by Bloomberg last week, the social games juggernaut Zynga has amended its stock structure to give its savvy founder and CEO Mark Pincus a stunning 70 times more voting power than people who buy the company’s shares in its eventual IPO.

Bloomberg says Zynga’s board has already approved the new structure, which also gives the company’s current shareholders and pre-IPO investors seven votes per share. (Usually, if a company is going to establish separate voting rights, it is via a dual-stock structure that gives superior shares 10 votes per share, while inferior votes have one vote for share.)

The company just needs the rest of its shareholders to agree to the new stock structure by tomorrow…

Trader Scott Sweet on LinkedIn: I’m Buying as Much as I Can

Earlier this afternoon, Scott Sweet, managing director of the research firm IPOboutique.com, told me that he’d already received more than 30 calls today. Tomorrow, he says, “it will be double that number – at least.” Sweet finds himself in great demand as observers contemplate the imminent IPO of LinkedIn, which raised its expected price range […]


LinkedIn: One Class of Stock Too Many

When LinkedIn filed its S-1 last week, one stated risk listed in its prospectus was the dual class structure of its common stock, which will have the effect of “concentrating voting control with those stockholders who held our stock prior to this offering.” No one has really blinked at that statement. They should have. When […]

Bar Lowers for Tech IPOs, as Investors Say Bring ’em On

Last week, six companies went public. This week, another dozen companies are slated to IPO, including NeoPhotonics and Epocrates, two companies whose highly anticipated offerings are expected to perform well. If that sounds like a lot of activity, it is. In fact, it’s the busiest week for U.S. IPOs since 2007. And the trend looks […]

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