by Brian Solis
Do you cringe or smile at the thought of tech IPOs? For the time being, therer’s still reason to smile.
Yes, it’s almost like watching movies about 9/11. It’s too soon to relive the pain. But Hollywood went ahead and released several movies tackling the difficult subject, which reminded us why we should never forget that day.
Now Wall Street is shedding its fear of the Dot-com bust and is slowly ramping up for some pretty bub.blicio.us IPOs. Hopefully this time around, the market will approach them differently, to help us sustain a long and healthy tech economy.
According to a recent story in USA Today, tech companies represented 18.3% of IPOs this year, up from 14.7% in the first six months of 2006. That puts tech in the number 2 spot (no pun intended) following healthcare, but ahead of energy.
ShoreTel (SHOR) was the latest to dive into the public market. The company’s stock was offered at $9.50 and closed at $12.15 on its first day of trading.
NetSuite Inc., the San Mateo Internet software maker co-founded by Larry Ellison, filed its prospectus with the Securities and Exchange Commission, with plans to raise up to $75 million.
NetSuite is more of a 1.0 player that sells online accounting and other business software to small and midsize businesses. Ellison has personally bankrolled much of the $125 million that NetSuite has raised since it was founded in 1998.