Mar 19, 2012, 11:56 am EDT
The IPO market will be busy this week, with six offerings planned. Here’s a look at the more interesting ones:
ExactTarget (NYSE:ET) operates a cloud platform that helps customers with marketing, such as with email and social media. The goal is to leverage corporate data to develop targeted campaigns. Last year, revenues increased by 55% to $207.5 million. ExactTarget has more than 4,700 customers, including Groupon (NASDAQ:GRPN), Microsoft (NASDAQ:MSFT) and Priceline (NASDAQ:PCLN).
The company plans to issue 8.5 million shares at a range of $15 to $17. The underwriters include JPMorgan Chase (NYSE:JPM), Deutsche Bank (NYSE:DB) and Stifel Nicolaus Weisel. Read
Mar 15, 2012, 11:24 am EDT
Last night, cloud operator Demandware (NYSE:DWRE) issued 5.5 million shares at $16 in its IPO. So far in today’s trading, the stock is at $24.50.
There seems to be no end to investors’ appetite for cloud deals. Other recent IPOs — Jive (NASDAQ:JIVE), Bazaarvoice (NASDAQ:BV) and Brightcove (NYSE:BCOV) — have also performed strongly.
Demandware’s platform enables enterprises to easily launch e-commerce sites. But it offers more than website creation — the system also allows for mobile apps and even in-store kiosks. Demandware is also exploring interactive television, which could be a boon for e-commerce. Read
Mar 14, 2012, 12:05 pm EDT
Zynga (NASDAQ:ZNGA), which is the leading social gaming site, has filed for a secondary offering for $400 million. The underwriters include Morgan Stanley (NYSE:MS) and Goldman Sachs (NYSE:GS).
It was only back in mid-December that Zynga pulled off its high-profile IPO, which raised $1 billion. While the offering got off to a shaky start, the stock is actually now up 36% from its IPO price of $10 per share.
The secondary offering isn’t meant to raise capital for the company. Instead, it will be a way for Zynga’s existing shareholders — such as venture capitalists — to cash out some of their holdings. Read
Mar 13, 2012, 2:12 pm EDT
The principals of private equity firm Carlyle Group — William Conway, Daniel D’Aniello and David Rubenstein — took $398.5 million in tax-deferred dividend distributions in 2010, which came from a $500 million investment from Abu Dhabi’s Mubadala Development, according to Bloomberg.
Carlyle plans to come public within the next month or so.
In the private equity game, personal compensation seems to be the main priority. Consider that in 2011 the Carlyle principals got roughly $138 million each. And this was not unusual. KKR’s (NYSE:KKR) Henry Kravis and George Roberts bagged $94 million each, Blackstone’s (NYSE:BX) Stephen Schwarzman received $148.5 million and Apollo Global Management (NYSE:APO) Leon Black got $104 million. Read