Xunlei Postpones IPO
Xunlei, a Chinese download manager and bit-torrent client in which Google owns a small stake, announced on Friday it is delaying its plan for an IPO worth as much as $200 million because of unfavorable market conditions. Based in Shenzen, China, Xunlei had planned to begin meeting with investors Friday to gauge interest in its shares, but those meetings were called off indefinitely.
HomeAway Inc, the operator of a number of vacation rental websites, filed Thursday for an initial public offering that would value shares between $24 and $27 a share. Based in Austin, Texas, HomeAway generated $167.9 million in 2010, and is looking to raise about $137.2 million through the sale of 5.9 million shares, according to the filing with the Securities and Exchange Commission. In addition to its namesake webiste, HomeAway also operates the websites VRBO, VacationRentals.com, FeWo-Direkt, and Holiday-Rentals.
After a turbulent first day of trading, shares of Pandora Media Inc. fell before their initial offering price Thursday due to concerns that the company won't be able to sustain sufficient growth to warrant the market value gained in its first day of trading. The online radio company launched its IPO Wednesday, selling shares for $16.00 each. The shares quickly climbed more than 50 percent, reaching a price of $24.25 just 36 minutes into their debut session, before spending the rest of the day declining to close at $17.45.
Pandora Media Inc has raised its initial price for shares in its upcoming initial public offering,increasing the amount the Internet radio provider hopes to gain in the sale by 43 percent to $176.2 million. According to a filing with the Securities and Exchange Commission, Pandora is now planning on selling 14.7 million shares of the company for between $10 and $12. When the IPO was first filed, the Oakland-based company was planning on selling 13.7 million shares for a price of $7 to $9.
A number of analysts have come out in criticism of Groupon's proposed $750 million IPO, which it filed for last week. In a letter to investors, Groupon CEO indicated that the company has invested heavily in attracting new users, and will continue to invest in long-term growth despite resulting short-term losses.
Chicago-based Groupon, the unquestioned leader in the emerging daily deals business, filed on Thursday to go public, seeking to raise as much as $750 million in an upcoming initial public offering. The filing provided analysts with a much-anticipated look at the books of one of the hottest startups to come around in the last decade.
Hoping to cash in on the fervor that drove LinkedIn's shares up more than 100 percent in its first day of trading last week, Zynga Inc. is believed to be preparing for its own initial public offering, hoping to begin public trading of its shares next month. Zynga designs and distributes games, mainly for Facebook and mobile OS platforms, and owns some of the most popular apps on Facebook, including FarmVille, CityVille, and Zynga Poker.
Yandex, a major Internet company in Russia, launched its initial public offering Tuesday. The stock began trading on the Nasdaq about halfway through the session under the symbol “YNDX.” The company offered 52.2 million Class A ordinary shares at $25 each, giving the company an initial market capitalization of about $8 billion.
The initial public offering of LinkedIn on Thursday was a resounding success. The stock price, after opening at $45.00, shot up more than 100% in its first day of trading, giving the professional-based social network a market value of close to $9 billion, more than household names such as JC Penney, Electronic Arts and Chipotle.
Professional networking company LinkedIn has reportedly raised the price range for its upcoming initial public offering, raising its potential total valuation to $4.25 billion. According to documents filed with the Securities and Exchange Commission Tuesday, the company will offer 7.84 million shares at $42 to $45 each. The company had originally intended to sell the share for $32 to $35 each. If shares are purchased at the top end of the new range, and underwriters exercise an overallotment option to purchase an additional 1.18 million shares, the Mountain View, California networking site will raise just over $405 million.