Palo Alto and Kayak Heat Up 2012's Chilly IPO Summer
July 23, 2012
Security software provider Palo Alto Networks (NYSE: PANW) and travel site Kayak (NASDAQ: KYAK) both enjoyed a healthy first day of trading Friday, a welcome heating up of the IPO market following the much discussed "Facebook freeze." Friday's IPO excitement reminded us of the news exactly a year ago, when real estate database Zillow also popped big in its first day, soaring up 79%, and earbud maker Skullcandy went public the same day (both July 20). Since the beginning of 2011, VC-backed companies have completed 69 IPOs, according to the PitchBook Platform. 40 of those IPOs were in 2011, while the remaining 29 have been completed this year, putting 2012 on track for a successful year IPO-wise, despite things not looking so rosy post-Facebook.