Our Passion for IPOs
News & Views
Largest Global IPOs
Largest US IPOs
Largest US IPOs YTD
Largest US Internet IPOs
Top First Day Returns
US IPO Stats
IPO Average Age
IPO Industry Breakdown
Offer Price Discounts
Global IPO Stats
IPOs by Region
IPO Industry Breakdown
2012 US IPO Review
2012 Global IPO Review
3Q US IPO Review
3Q Global IPO Review
Press Contact Form
Free iPhone App
Free Android App
IPO News Feed
IPO News Archive
Interested in IPO Investing?
Cloud-based solutions drive half the filing activity this week
Analyst IPO Blog
As Internet speeds accelerate and IT departments move offshore, businesses are transitioning to the cloud. Web-based applications have proven advantageous for both customers, who receive faster updates, and suppliers, who see steadier revenue through subscriptions. Not surprisingly, the IPO market has reflected the move, as new online solutions replace yesterday's installation disks. To date, a quarter of the year's deals have involved cloud-based products. Guidewire Software (
), which offers web-based insurance software, is this year's top IPO performer to date (up 67%) and the group has produced an average return of 26% (compared to 15% for all IPOs). This past week, one company hoping to continue that trend filed for a US IPO and two more announced terms, both of which are on the
for this month.
), which offers an online video publishing platform to enterprises and small businesses, hopes to raise $55 million by offering 5 million shares at a range of $10 to $12. It boasts a global customer base of 3,872, including big names like Bank of America, Fox and Intel. Premium customers (34% of total) grew 44% in 2011, helping to drive revenue up 45% to $64 million. Venture capital firms General Catalyst Partners and Accel Partners will each have a 21% stake after the offering, which is being managed by Morgan Stanley and Stifel Nicolaus Weisel. Brightcove is expected to price the week of February 13th.
The second on-demand software filer,
), also presents an impressive client list and tantalizing growth figures. Proctor & Gamble, Microsoft and 735 other clients use its product to analyze what their customers are saying on Facebook and other online outlets. Bazaarvoice delivered nearly 40 billion pieces of feedback in the last quarter, as sales grew 60% to $28 million (3 months ended 1/31/12). As with Brightcove, venture capital firms currently own a majority of shares. Austin Ventures will have a 26% post-IPO stake, while Battery Ventures will own 14%. Bazaarvoice hopes to raise $85 million by offering 9.4 million shares at $8 to $10 during the week of February 20th. Morgan Stanley, Deutsche Bank Securities and Credit Suisse are the lead underwriters.
On the new filing front, our third cloud provider, Midas Medici Group Holdings (
) made its initial filing on Wednesday. The Brazil-focused provider of data center and cloud computing solutions hopes to raise $29 million by offering 8.2 million shares at a range of $3 to $4. Midas Medici currently trades on the OTC Bulletin Board with minimal volume but is planning to list on the NYSE.
came from the recently active energy and biotech spaces as well as a familiar face.
), a Pacific Northwest community bank, priced Friday afternoon after filing terms for the third time earlier in the week. It raised $80 million by offering 1.8 million shares at $44. The previous attempts, at $180 million and $165 million, were postponed in August and December.
, a biotech developing bone growth injections for osteoporosis sufferers, filed for an $86 million IPO on Monday.
Quicksilver Production Partners
, a Texas oil and gas company formed by Quicksilver Resources Inc., filed for a $250 million IPO on Friday.
Keywords / Tickers: IPO Pipeline,
Recently Priced IPOs
Global IPO Volume
The information contained herein is proprietary and copyrighted. The media is welcome to use our information and ideas, provided that the following sourcing is included:
IPO investment firm Renaissance Capital (www.renaissancecapital.com)
The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Global IPO Fund (symbol: IPOSX) or the Renaissance IPO ETF (symbol: IPO), may have investments in securities of companies mentioned.
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. Investors should consider the investment objectives, risks, charges and expenses carefully before investing. An investor cannot invest directly in an index. Index returns do not represent Fund returns. The Index does not charge management fees or brokerage expenses, nor does the Index lend securities, and no revenues from securities lending were added to the performance shown.
Net Asset Value (NAV)
of the fund is calculated by dividing the total value of all the securities in its portfolio, less any liabilities, by the number of fund shares outstanding.
is current value at which an asset or service can be bought or sold.
is provided to show the comparison of the daily net asset value (NAV) and the midpoint of the closing bid/ask for each of the funds. The
Renaissance IPO Index® (IPOUSA)
is a stock market index based upon a portfolio of U.S.-listed newly public companies that includes securities prior to their inclusion in core U.S. equity portfolios.
The S&P 500® Index (SPX)
is a stock market index based on the market capitalizations of 500 large companies whose common stock is publicly traded on the NYSE. The S&P 500 index components are determined by S&P Dow Jones Indices.
The Russell 3000® Index (RAY)
is a stock market index of US stocks which measures the performance of 3,000 publicly held US companies based on total market capitalization. The Russell 3000 index components are determined by Russell Investments.
Investments in the
Renaissance IPO ETF, symbol "IPO"
(the “ETF”) and the
Global IPO Fund, symbol "IPOSX"
(the “Mutual Fund”) are subject to investment risk, including possible loss of the principal amounts invested. The ETF and the Mutual Fund (the “Funds”) invest in companies that have recently completed their initial public offerings. These stocks may be subject to extreme price volatility and speculative trading. The Funds may also be subject to information technology risk, small and mid-capitalization company risk, REIT risk, Master Limited Partnership (MLP) risk, non-U.S. issuer risk and replication management risk. ETF returns may not match the return of the respective index. The ETF is classified as a non-diversified investment company and is subject to concentration risk. Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus with information about the Funds please visit
. Read the prospectus carefully before investing. Renaissance Capital Investments, Inc., distributor for the Mutual Fund. Foreside Fund Services, LLC, distributor for the ETF, 1-866-486-6645.
Renaissance Capital LLC is an SEC-registered investment adviser.
Renaissance Capital Investments, Inc. is a
-registered broker-dealer, and member of
© 2013 Renaissance Capital LLC. All rights reserved.