by Tom Taulli | January 17, 2013 1:20 pm
It looks like a couple hot private companies will stay that way — at least until next year.
SurveyMonkey, a privately held operator of an online survey platform, has raised $800 million in cash and debt from Google (NASDAQ:GOOG) and Tiger Global Management. If that number sounds large, it’s because it is — that financing is much larger than your typical IPO, which often ranges from $100 million to $200 million.
That money seems to have done wonders for the patience of SurveyMonkey CEO Dave Goldberg, who doesn’t seem like he’s in a hurry to pull off an IPO.
Goldberg told Fortune that being public can be a distraction — a lesson he easily might have picked up via his marriage to Facebook (NASDAQ:FB) COO Sheryl Kara Sandberg. He also mentioned that Wall Street is too focused on quick results, which has hampered the stocks of companies like Groupon (NASDAQ:GRPN) and Zynga (NASDAQ:ZNGA).
However, Goldberg’s not the only IPO-phobe.
Box CEO Aaron Levie also is holding off on an offering until 2014. The cloud-based platform that helps companies collaborate has 140,000, but Levie told Bloomberg that he still wants to build out the infrastructure and bolster the employee base.
That said, a Box IPO probably still would do well if Levie changed his mind. Recent cloud IPOs have been a hit, including Workday (NYSE:WDAY) and ServiceNow (NYSE:NOW), which have clocked respective returns of 84% and 52%.
Tom Taulli runs the InvestorPlace blog IPO Playbook, a site dedicated to the hottest news and rumors about initial public offerings. He is also the author of “How to Create the Next Facebook” and “High-Profit IPO Strategies: Finding Breakout IPOs for Investors and Traders.” Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities.
Source URL: http://investorplace.com/ipo-playbook/get-comfortable-surveymonkey-box-in-no-rush-to-go-public/
Short URL: http://investorplace.com/?p=293014
Copyright ©2014 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.