In the “you knew this was coming” category, Bazaarvoice filed for an Initial Public Offering (IPO) of it’s stock today. The news is being covered by TechCrunch and The Statesman. The company is one of the fastest growing in Austin, going from 70 employees in April 2007 to over 600 today. In conversations with company co-founder and CEO Brett Hurt, he has always characterized the company’s financial condition by saying that they could stop growing [...]
Austin is about to witness a wave of financial liquidity in the technology community not seen since 1999. Please join me in wishing and hoping that unforeseen circumstances don’t disrupt a hallmark in the chapter of Austin history. Back in 2006 and early 2007 Austin had seen a positive upswing in investment, consumer spending, and a generally healthy economy since about 2004. Just enough time to get sales up, profits up, growth rates back in [...]
Austin-based chip development firm Wintegra updated their 2006 IPO filing on Friday. The current plan is to raise $115M on a valuation of somewhere between $250M – $500M. The offering will be led by Barclay’s and Deutsche Bank Securities. The people gaining some liquidity from this deal include funds Magma, Concord, and Genesis, chip makers Marvell and Texas Instruments, and CEO Jacob Ben-Zvi. When it first planned an IPO in 2006 the company had revenues [...]
If you remember over a year ago we wrote about Convio pulling their IPO and turning the corner on profitability at the same time. Today they re-filed for an IPO, although at $57.5M this one is a little bit smaller. I’m sure while this registration was in the works, they had no idea about last week’s carnage, but by the time it gets priced and hits the street, this week’s Wall St. misery will be [...]
Yes, it was over a year ago that we wrote about SolarWinds filing their S/1 registration statement with the Securities and Exchange Commission. Back then the company was hoping to raise $250M through the offering. A year later the amount of money being raised for the company has been adjust slightly to between $85.5M and $103.5M depending upon where the IPO actually prices (or if it prices). Still, this is a major coup for SolarWinds, [...]
The Rackspace (NASDAQ: RAX) IPO priced, floating 15 million shares at $12.50 per share, netting the company roughly $180M in cash, which is significantly lower than the $400 they hoped to raise. This gives the company a market cap of well over a billion dollars. Noting that good companies don’t go public in bad markets, Convio recently pulled their IPO to wait for better conditions. Rackspace pulled their IPO once in 2000 when the markets [...]
Convio, an Austin-based company that provide SaaS CRM software for the non-profit market, is announcing record revenues today which has allowed them to turn the corner on profitabiity. In Q2 the company logged $14.7M in revenue, a 35% increase over the same quarter in 2007. Those sales numbers resulted in $1.3M in operating cash flow. Almost a year ago, the company filed a registration statement with the SEC for an initial public offering (IPO) led [...]
Here’s some of the interesting items we’re following: Connie Loizos over at PEHub blogged about a conversation with former Austinite Mike Maples. In it he talks about the window for investing in social media companies, and what types of deals his new $33M fund is looking at now. Lori Hawkins at The Statesman had a writeup on Austin startup company 7 Billion People Inc. which is trying to solve the problem of high abandonment rates [...]
We don’t have a lot of details yet, but San Antonio-based Rackspace stands to raise around $400M with their Initial Public Offering (IPO). They’re taking the same route as Google, in terms of using an auction-style offering to help maximize the funds raised. The financials are pretty interesting. The company has grown revenues very rapidly in the past few years, but it has also grown overhead pretty quickly. While revenues from 2005 through 2007 have [...]
Soon we will see what SolarWinds thinks their valuation in the marketplace will be. That will require an updating of the S-1 statement. Cruising through the current registration you can definitely find some interesting things. Do you think your overpaid? Underpaid? Here is what the executives at SolarWinds are making, in case you want to measure it against your compensation. This comes from the 2007 Executive Compensation table: Michael Bennett, President & CEO, $1,888,741 Kevin [...]
