GoDaddy's IPO Yanked Just As Quickly As Its Superbowl Ad
from the try-again-later dept
For all the buzz and hype about how the tech world is back (or that there's a new "bubble") one thing that has worried more than a few people is the lack of any real market for tech IPOs. Some may say this is a good thing -- as it was IPO madness that fueled much of the last bubble. However, a really weak IPO market where even legitimate companies are limited can spell a lot of trouble both for tech companies and their investors. Vonage tried to prove that the IPO window was back open, but we all saw how that turned out. Earlier this year, though, we noted that if a company like GoDaddy could make it out, that would be a catalyst for other tech firms to start marching down Wall Street. So much for those plans. Following Vonage's dismal debut, and other companies like Clearwire decide that the private investment market was a better bet, GoDaddy has decided to pull its IPO filing, citing the ever popular "market conditions." Of course, these things can change in an instant. It's widely forgotten, but in the middle of the last bubble (summer of '98), the bottom dropped out of the IPO market and lots of companies pulled their plans. Late that fall, however, EarthWeb and TheGlobe both took their chances and blew open the IPO window with record setting (if ridiculous) debuts. While we wait for the 2006 or 2007 equivalent, however, feel free to check out the celebrity blank-check and no-business-model IPOs that are still going on.