Jan 31, 2012, 11:04 am EDT
Philip Weisberg has spent over 20 years in the foreign exchange (FX) market, having worked at firms such as JP Morgan (NYSE:JPM). But he saw that the process was antiquated. Traders used telephones and faxes to pull off their trades. So in 2000, Weisberg co-founded FXall to create an electronic FX platform.
It was great timing — the company has benefited from the FX boom. In fact, it plans to go public. Lead underwriters include BofA Merrill Lynch (NYSE:BAC) and Goldman Sachs (NYSE:GS). The company plans to issue 5.2 million shares at a range of $13.50 to $15.50 a share. The proposed ticker is “FX.”
With more than 1,000 clients, FXall is the leading independent global provider of electronic FX trading services. Functions include price discovery, trade execution and the automation of pre-trade/post-trade transactions. There are offices in all the major FX cities across the world. Read
Jan 31, 2012, 10:34 am EDT
For AVG Technologies, the global recession has not been a factor. From 2008 to 2010, the security software provider’s revenues spiked from $113.8 million to $217.2 million, which comes to a compound annual growth rate of 38.1%.
During this time, net income grew at a 40.4% clip. And going into 2011, the momentum has not slowed. For the nine months ended Sept. 30, 2011, revenues were $198.1 million, with cash flows of $66.2 million.
Keep in mind that AVG has never raised equity financing. Instead, the company’s growth has been supported with cash flows. Read
Jan 31, 2012, 9:25 am EDT
Personal finance site Mint.com was one of the breakout web products for data analysis — and a key architect of the technology was Kumar Saurabh.
Mint.com was sold to Intuit (NASDAQ:INTU) in 2009, and in 2010, Saurabh co-founded Sumo Logic, which is focused on helping companies analyze enormous amounts of data to deal with application problems and security.
IPOPlaybook.com recently had an opportunity to talk to Saurabh about “Big Data,” the cloud and more: Read
Jan 30, 2012, 1:35 pm EDT
Last week saw some decent IPO action. The most notable deal was from Guidewire (NYSE:GWRE), which operates a cloud-based system for the insurance industry (here’s an interview I had with the company’s CEO). Priced at $13, the shares are now trading at $18.10.
But this week, the activity is likely to get much hotter. In fact, eight deals are expected to hit the markets.
Here are some of the standouts: Read
Jan 30, 2012, 12:16 pm EDT
Facebook’s IPO is going to be a huge money-maker for both its employees and venture capital investors — but probably not for its lead investment bank, which likely will be Morgan Stanley (NYSE:MS).
According to a Reuters report, it looks like Morgan Stanley — or other front-runner Goldman Sachs (NYSE:GS) — will take a big cut in its typical fee structure. While fees usually run between 3% to 5% of total capital raised, Facebook’s IPO could run as low as 1%. Though 1% of a possible $10 billion raised still is a cool $100 million.
But the Facebook transaction is about more than just making a nice profit. Snagging the deal could cement an investment bank’s reputation in a red-hot category. Read
Jan 30, 2012, 11:36 am EDT
It looked like last week would end up being fairly quiet for social stocks. But with the buzz of a Facebook IPO filing, Friday saw a rally. The weekly gain for the Social Stock Tracker came to 3%, bringing the total value of the basket of stocks to $33 billion. Keep in mind that a Facebook IPO is expected to fetch a market cap of $75 billion to $100 billion.
For the week, the top performer was Zynga (NASDAQ:ZNGA). The company launched Zynga Bingo (it’s in closed beta testing), which is part of its Casino destination. Perhaps this is just another part of the plan to capitalize on legalized online gambling? Read