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With the debut of public offerings from Demand Media and Nielsen already this year, analysts expect the tech industry to see a large number of new issuances in 2011.
While some late-stage Silicon Valley companies like Facebook and Zynga have raised massive amounts of capital in the private markets and are unlikely to go public this year, strong demand for LinkedIn and Pandora—both of which have filed in the last month—might trigger other high profile start-ups to take the plunge, say analysts.
Seven technology companies have gone public so far this year, more than any other industry, according to Renaissance Capital, an IPO research firm based in Greenwich, Conn. Tech has performed better than other sectors, too, with a 21.3% average total return.
Scott Sweet, a senior managing partner at IPO Boutique, an IPO advisory firm in Lutz, Fla., says the number of public offerings in the tech sector is estimated to double this year over last year, when 42 companies in the space priced.
Top IPO candidates for this year include smart-grid star Silver Springs Networks, local daily deals site Groupon and Brightcove, an online video company that recently hired a new CFO with public company experience.
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