Technology

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Two Pricings and a Shellacking

The two most attractive deals in marketing, Renren and RPX, priced this week and traded up sharply but not insanely. Just before pricing a sharply negative report came out on Sky-mobi which had more than doubled from their IPO price just 5 months ago. This post deals with these three issues in more detail.  

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Cornerstone OnDemand Overpriced

This is the text portion of our research note on Cornerstone OnDemand (CSOD) which priced today at $13. Nothing wrong with the company but at this price it’s the most expensive SaaS company on the market and we don’t see the justification for that. [Toffee subscribers can download the report in PDF format under the…

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Skype Pre-IPO Preview

The preliminary prospectus still has quite a few blanks in it, but after a basic review Skype looks like a company that might be better off acquired than public.  Based on our valuation work the market clearing price should be around $4.8B. The Wrapper: Skype is the leading Internet-based communication company with 560 million registered…

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SciQuest Pre-IPO Review

We did some analysis of the upcoming SciQuest IPO. The Wrapper: SaaS solution for purchasing and procurement for higher education (63% of customers), public sector (3% of customers), life sciences (23% of customers) and healthcare organizations (11% of customers.)  $300K average selling price. 165 customers.  $40M revenues, 165 customers, 125,000 users, 78% gross margins, 18%…

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A look at SMG Indium Resources

It must be a slow time in the IPO market for me to look at a company like SMG Indium Resources. But so it is, and this proposed IPO is one of those opportunistic and puzzling vehicles that seem to pop out of our ever-speculating financial markets. Although the web-based roadshow presentation is a bit…

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InvenSense IPO Preview Screencast

We decided to take our preliminary preview on the InvenSense IPO and turn it into a screencast rather than a document. Part of the reason for this is to experiment with a new medium that seems more modern than the typical PDF files we tend to create. It’s also early in our research process for…

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IntraLinks Then and Now

We completed our pre-IPO analysis of IntraLinks today; the snapshot will be published and sent to email subscribers on Monday. In the process of doing our background work, we couldn’t help but take a look at the original company filings to go public from back in 2005. For those that haven’t yet looked, the company…

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More IPO Presentations: SurgiVision and Envestnet

SurgiVision is a company we are following because it crosses two major themes we like, health technology and real VR. However, the company is more development stage than we expected. The ability to do surgery based on vision from MRI does seem inevitable, and their technology appears ready, but the pace of adoption is hard…

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RealD IPO Preview: Hoping for a Sweet View

RealD is nearing the end of the marketing phase of their IPO and the curent plan is to price the offering later this week. RealD is the leading provider of 3D cinema technology in the U.S. and most of our readers have worn their brand of glasses if they have watched a film in 3D.…

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IPO Macaroons this week for Bastille Day

Recent market improvement, particularly in technology, suggests that some of the IPO names we are tracking may indeed get out the door either later this week or next.  A number of strategists and market analysts have noted the relative attractiveness of the technology sector, and the initial earnings reports are reminding investors that technology is…

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