Tech IPOs Stuck in Holding Pattern, CEOs Say
Tom Ebling, the CEO of newly public Demandware, also notes a post-Facebook hangover in the IPO market.
"I think, undoubtedly, there will probably be some time period where maybe investors will be a little gun shy," he said in an interview. "I hope that that will bounce back quickly."
Demandware went public in March, pricing its IPO at $16 a share. Since then, shares of the cloud-based e-commerce platform have gained more than 25%, aided by strong first-quarter results last month.
"Many of our peers that have done IPOs in the past six months have had positive earnings results," Ebling said. "If we keep doing that as a group, it will help investor confidence."
"We had our own timeline for our IPO that was designed to go out in front of Facebook," Godfrey Sullivan, Splunk's CEO, said in an interview. "Not because we thought that it would go up or down, but because we thought there would be so much news about it."
"We wanted to meet with investors and have them pay attention to our story," he said. "I'm glad that we got out first, not because of any change in the IPO climate, but because we wanted to get our message out with clarity."
--Written by James Rogers in New York.
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