If nothing else, you have to admire the patience shown by ExactTarget and Aprimo, two of the area’s hottest tech
companies, as they await better conditions to launch their initial public offerings.
Both firms put their plans on hold in 2008 after the IPO market went dry.
ExactTarget, which helps companies stay in touch with customers via e-mail, planned to raise $86 million. It has gathered much of the goal through private placements, but the company’s torrid growth likely means it still has an appetite for an IPO. Aprimo, which makes marketing software, envisioned raising $50 million.
The limbo must have sapped some enthusiasm of their investors, many of whom are hard-charging types with a history of reinvesting their profits.
Now, conditions are improving with the resurgence of equity markets. Dollar General and Hyatt Hotels are just two companies filing IPO plans in recent weeks.
Anyone willing to guess when ExactTarget and Aprimo will pull the trigger? Which other local companies have the greatest potential to shoot for their own IPOs some day?