Jul 31, 2013, 11:18 am EDT
I used to think that, when your company’s name is used as a verb, it’s a sure sign you’ve “made it” — just think about all the people who Google (GOOG) things or Facebook (FB) each other.
When it only takes only four or so years for a startup’s name to catch on, though, it seem to be a sign of something different: That this is just the beginning. That’s why, if you haven’t heard of Uber Technologies yet, you’re going to hear about it soon.
First things first: the basics. Uber is a mobile app that provides car services — like taxis, but less yellow and much more hip. Read
Jul 29, 2013, 12:27 pm EDT
The heavy action in IPOs continued last week as 11 deals hit the market, but the performance was a bit uneven.
While stocks like Agios Pharmaceuticals (AGIO, +59% through today) and Phillips 66 Partners (PSXP, +49%) soared, more than half the transactions had negative returns, with companies like Cellular Dynamics (ICEL) and Liquid Holdings (LIQD) posting nearly 15% losses.
Still, Wall Street is feeling aggressive on the dealmaking front, with another seven offerings on this week’s slate. Read
Jul 22, 2013, 2:22 pm EDT
Hotel chain Extended Stay America filed today for an IPO that could end up being one of the largest deals of the year.
Extended Stay is the largest owner/operator of company-branded hotels in North America, with 682 properties across 44 states and Canada. Because the average stay is 28 days — vs. just 2.5 for a traditional hotel — typical rooms offer features like kitchens, free Wi-Fi and housekeeping service. More importantly to investors, those long durations help give Extended Stay higher operating margins and lower occupancy breakeven thresholds.
Still, Extended Stay has had a tumultuous history. Read
Jul 22, 2013, 11:12 am EDT
Big performances last week from companies like OncoMed Pharma (OMED) and RetailMeNot (SALE) shows the continued strength of the IPO market. And as another sign of optimism, 11 deals are planned to go live this week.
Here’s a quick look at each:
Agios Pharmaceuticals is a pre-clinical biotech operator that uses cellular metabolism to treat cancer and other diseases. As a big validation, it formed a collaboration agreement with Celgene (CELG) back in April 2010. So far, AGIO has received $141.2 million in payments and $37.5 million in equity investments. Read
Jul 22, 2013, 10:41 am EDT
America had approximately 7,500 public companies in America in 1997. Yet by 2000, that number fell 33% — down to 5,000 companies, and today, the Wilshire 5000 consists of just 3,687 stocks.
Companies are going private at an alarming rate, and the tide needs to turn before investors run out of options. I’ve put together my own list of five companies I’d like to see go public.
This list represents some of the biggest businesses in America, so interest in these IPOs would be tremendous: Read
Jul 19, 2013, 12:46 pm EDT
Wall Street is celebrating the return of the online coupon IPO today.
RetailMeNot (SALE) was trading up about 30% as of midday Friday after pricing at the midpoint of its expected $20-to-$22 range, raising $191 million.
Lead underwriters included Morgan Stanley (MS), Goldman Sachs (GS) and Credit Suisse (CS). Read