Crains New York - May 13, 2013 - (Page 11)
TECHNOLOGY
REPORT
City IPO
scene
hopes for
comeback
Startups ramp up
growth amid
surging Dow,
vibrant tech biz
BY JUDITH MESSINA
After an IPO drought of nearly two
years,New York stock-photography
company Shutterstock went public
last October, reviving hopes in the
tech community that more public
offerings are coming.
Likely candidates are using millions in late-stage money to acquire
companies and hire dozens of new
employees, ramping up the kind of
growth investors look for in an IPO.
The resurgent stock market and the
vibrant New York tech scene have
IPO watchers out in full force.
“It’s going to be about growth,”
said Anand Sanwal, CEO of venture-research firm CB Insights, of
IPO wannabes.“Profitability is not
going to be the metric of importance. It’s ‘Are you getting scale?’ ”
Crain’s picked 12 potential IPO
companies based on work by CB
Insights, published reports and our
own research. (See Page 15.) Not
all—and possibly none—will ultimately go public, but they have
achieved some of the milestones,
such as big valuations, that investors look for in IPOs. CB Insights has identified a broader pool
of 41 New York companies that are
in the pipeline, out of 472 nationwide. Across the country, IPO candidates have raised an average of
INSIDE THE LIST NYC’s top tech
IPO candidates PAGE 15
‘How goes a sector, so goes the
IPO market’
—John Fitzgibbon, founder of IPO Scoop, Page 14
People to watch
in Silicon Alley
T
BY JUDITH MESSINA
he dozen executives profiled here have a lot at stake this
year. Some have launched yet-to-succeed new ventures,
shifted business models or made big exits that set them up
for the next round of entrepreneurship. In many cases, their
success or failure will answer bigger questions: Can New
York build an institution to rival Stanford University and Silicon Valley?
(See Daniel Huttenlocher.) How far can tech go as a political player?
(See Jessica Lawrence.) Are flash sales a model for a public company?
(See Michelle Peluso.) Can a scrappy startup change the way we go to
the movies? (See Stacy Spikes and Hamet Watt.)
Meanwhile, the scope and variety of all the companies profiled in this
report show how much the city’s economy has riding on the success of
the tech industry, which is bigger, broader and more important than it
For profiles, see Page 12
has ever been.
See CITY on Page 14
41
$85M
AVERAGE AMOUNT raised by
IPO candidates across the U.S.
Source: CB Insights
istockphoto/crain’s composite
NUMBER of New York
companies in the
IPO pipeline
May 13, 2013 | Crain’s New York Business | 11
http://www.entrepreneurship.In
Table of Contents for the Digital Edition of Crains New York - May 13, 2013
Crains New York - May 13, 2013
IN THE BOROUGHS
IN THE MARKETS
REAL ESTATE DEALS
THE INSIDER
BUSINESS PEOPLE
OPINION
STEVE HINDY
GREG DAVID
SMALL BUSINESS
REPORT: TECHNOLOGY
THE LIST
CLASSIFIEDS
NEW YORK, NEW YORK
SOURCE LUNCH
OUT AND ABOUT
SNAPS
Crains New York - May 13, 2013
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