Syndax (SNDX) tried to go public back in June of 2014 with a different management team and less compelling story. Instead they took in capital from crossover investors, did a minor pivot and brought in a new management team to lead the company forward. The proposed terms in 2014 were 4.3M shares at a $14…

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I was stunned to read a long and silly post by technology gadabout Jason Calacanis today. In it he basically says that the technology IPO market is just a ticket to the poor house for retail investors. It always amazes me when someone with a fairly large readership and a brain publishes an article with…

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We published an updated preview of the LinkedIn IPO today that expands on our earlier post back in February. The PDF is available under the “Research Reports” tab for Toffee subscribers.  As an experiment we are using our syndication partner Seeking Alpha to distribute the text portion of the note.  It’s available via this link:…

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[This is the full text of our bi-weekly Candygram. See the Candygrams page for the full PDF with more tables.] The IPO market is humming along pretty well and it’s hard not to notice the continuing emphasis on mobile and Internet technology companies, particularly from China.  The recent pricings and aftermarket performance of Qihoo 360…

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[This is the text from our April 19th Candygram. The full report with tables is available under the “Candygrams” tab.] We wrote about a “resurrection” of the IPO market at the start of the month and we’re feeling “prophetable” right now (sorry!)  We had a number of solid pricings and good after-market trading on deals…

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A rebound in the markets has many thinking we may be heading for a “resurrection” of a robust IPO market in the coming weeks. The IPO market is moving along, although some of the larger deals — like Apollo, HCA and GNC — are just too boring to be considered IPO Candy.  However, a few…

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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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There was more talking than cooking in the IPO kitchen for the first two weeks of 2011.   We’ve seen new pronouncements about the IPO market from guys like Bill Gurley late in 2010 and more recently even Fred Wilson is coming around.  All we can say is that we’ve been very busy since we…

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