“If the IPO window opens, you jump through it ASAP.”
— Sam Hamadeh, founder and CEO of PrivCo, which follows the IPO market, on the recent rush to the public markets by Silicon Valley companies such as Silver Spring Networks, Model N, and today, Marin Software. Shares in San Francisco-based Marin Software are about 40 percent higher as of this post. Model N, a Redwood City software company that made its market debut Wednesday, closed with a 30 percent gain that day. CEO and founder Zack Rinat said the demand for Model N shares was “many, many, many times what we wanted to sell,” according to the Merc’s Jeremy Owens, who has been following Silicon Valley IPOs’ hot streak. And Silver Spring Networks, a Redwood City company in the smart grid industry, soared 29 percent on its first day of trading a couple of weeks ago. As the Merc’s Dana Hull wrote, one analyst called the Silver Spring IPO “one of the most highly anticipated U.S. cleantech IPOs ever.” Shares of Model N and Silver Spring are down today amid a mixed day for stocks.
(Photo by Reuters)