Cloud Companies Have Dominated Tech IPOs In 2013
November 5, 2013
Grazed from Investors.com. Author: Pete Barlas.
Twitter will get the attention this week, but the cloud will continue as an IPO rainmaker. Cloud companies are dominating tech initial public offerings in numbers and performance, even as Twitter gets set to make its much-anticipated IPO, likely this week. Meanwhile, trends continue to favor vendors that provide software that resides on the Internet cloud and is available for quick access as needed.
Cloud computing is fueling the growth of scores of startups that are challenging software giants Microsoft (MSFT), Oracle (ORCL), IBM (IBM), SAP (SAP) and others that have been slow to adopt the platform. Companies with business models steeped in cloud-based computing accounted for the biggest share — 15 of 40, or 37.5% — of all tech-related initial public offerings in the 12 months ended on Sept. 30, says PricewaterhouseCoopers, in research produced for IBD. That’s up from 10 of 39, or 25.6%, in the year-earlier period…
"Cloud-based offerings have definitely been where we have seen the most activity in the technology IPO space in the last 12 months," said Bryan McLaughlin, a partner in the PwC technology transition services team…
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