With all the hype surrounding LinkedIn's filing to go public, the one question being asked a lot is, "how do we know if tech IPOs will do well in today's market?" Good question, and this morning, we have an answer.
Very well, thank you.
San Francisco's Velti dodged the hype, and quietly went public on the Nasdaq this morning. Quietly, unless you're a shareholder, in which case you're screamingly happy. Velti - trading under the symbol VELT - provides mobile marketing and advertising technology, to help advertising agencies and mobile operators get the world out.
Apparently, it's a hot spot, because as I write this, the stock is doing very well on day one .. let's see, up 23 percent from its 12 dollar a share starting price. The company tells me it reaches 2.5 billion consumers around the world, and has some 600 customers. Mobile advertising is catching on these days, as Apple and Google can attest. Investors seemed pleased with the idea of taking a risk with Velti, at least out of the gate.
So, if you're wondering about the appetite for tech IPOs, now that we finally seem to have a bunch of them, look no further. We've got one, and it's doing fine.