Just a week ago, we were talking about reports that the IPO market still sucked, despite all the positive buzz and venture capital money flowing into companies. However, at the time, we noted that perhaps the slow IPO market was a good thing -- since it meant that we weren't seeing a huge repeat of the last bubble where companies that had no business being public were rushing out onto the market for millions of dollars, sometimes less than a year after they had been in business. Still, it seemed silly to think that investors had actually "learned their lesson." When there's an opportunity to cash out via the public markets, the folks on Wall Street aren't going to say no. We had already seen at least one IPO that never should have gone out, and SiliconBeat is pointing out two more potentially questionable tech IPOs. Both Local Matters and Omniture have filed to go public, despite neither one having the sort of track record Wall Street insisted they would demand this time around. It sounds like those folks on Wall Street are getting antsy again. It will make good money for them as well as company insiders and VCs... but these seem like the type of deals that whoever is left holding the bag on will regret.
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