Slideshow: Groupon, Zynga and 9 Other VC-Backed IPOs Threatened by Market Turmoil

For venture-backed companies in registration to go public, August is not shaping up as a promising month.

While it remains to be seen whether the worst of the market downturn is behind us or ahead, the debt ceiling imbroglio and S&P downgrade of U.S. debt have already had a chilling effect on IPOs. Three venture-backed companies planning to go out this week — Invensense, Wageworks and WhiteGlove Health — have postponed their plans, leaving data backup provider Carbonite as the lone VC-backed company  to price its offering (at a lower price than it had planned). And companies in the pipeline — including closely watched offerings from Groupon and Zynga — will likely have to wait longer than expected to begin trading.

In the following slideshow we look at 11 of the most closely watched VC-backed deals currently sitting in the pipeline, ranked by proposed offering size.

[slideshow]

[slide title=”No. 11: WageWorks”]

Size of Proposed IPO: $40M

Location: San Mateo, Calif.

Business: Provides tax-advantaged spending accounts for health and dependent care and commuting.

IPO Filing Date: April 2011.

Venture Funding: Has raised $46.6 million since 2000 from backers including VantagePoint Capital Partners (75% pre-IPO stake), Advent International (11.8%), and Camden Partners (9.6%).

Note: It was reported on Wednesday that WageWorks has postponed its IPO due to market conditions. The offering size had been reduced by about a quarter previously, to around $40 million.

[slide title=”No. 10: Imperva”]

Size of Proposed IPO: $75M

Location: Redwood City, Calif.

Business: Provides enterprise data security systems

IPO Filing Date: June 2011.

Venture Funding: Has raised $52 million since 2002 from backers including Accel Partners, Greylock, Meritech Capital Partners, U.S. Venture Partners and Venrock.

[slide title=”No. 9: CafePress”]

Size of Proposed IPO: $80M

Location: San Mateo, Calif.

Business: Sells customized prints and other products

IPO Filing Date: June 2011

Venture Funding: Raised $23.5 million from Sequoia Capital

[slide title=”No. 8: InvenSense”]

Size of Proposed IPO: $99.8M

Location: Sunnyvale, Calif.

Business: Develops 3-D motion-sensing technology

IPO Filing Date: June 2011.

Venture Funding: Has raised $53 million since 2003, according to Thomson Reuters. Backers include Artiman Ventures 22.4% pre-IPO stake), Partech International (22.3%), Sierra Ventures (8.8%) and Qualcomm Ventures (6.9%).

Note: Postponed its offering on Tuesday due to market conditions.

[slide title=”No. 5 (tied): Enphase Energy”]

Size of Proposed IPO: $100M

Location: Petaluma, Calif.

Business: Provides solar energy management systems.

IPO Filing Date: June 2011.

Venture Funding: Has raised $100 million since 2008 from backers including Applied Ventures, Bay Partners, Kleiner Perkins Caufield & Byers and RockPort Capital.

[slide title=”No. 5 (tied): BlueArc”]

Size of Proposed IPO: $100M

Location: San Jose, Calif.

Business: Provides network storage systems.

IPO Filing Date: June 2011.

Venture Funding: Has raised $215 million since 1999, according to Thomson Reuters (publisher of peHUB). Backers include Meritech Capital Partners (23%), Crosslink Capital $14.7%), Investor Growth
Capital (11%) and Morgenthaler Venture Partners (9.4%), according to the company’s prospectus.

[slide title=”No. 5 (tied): Cortina Systems”]

Size of Proposed IPO: $100M

Location: Sunnyvale, Calif.

Business: Develops semiconductor devices for optical transport, data center connectivity, and digital home applications.

IPO Filing Date: May 2011.

[slide title=”No. 4: Zeltiq Aesthetics”]

Size of Proposed IPO: $115M

Location: Pleasanton, Calif.

Business: Develops technologies for cosmetic procedures, including a skin-cooling device used to remove fat from waistlines and other hard-to-eliminate areas.

IPO Filing Date: July 2011.

Venture Funding: Has raised $104 million since 2005 from backers including Aisling Capital, Advanced Technology Ventures, Frazier Healthcare and Venrock.

[slide title=”No. 3: BrightSource Energy”]

Size of Proposed IPO: $250M

Location: Oakland, Calif.

Business: Designs, builds and operates utility-scale solar power projects.

IPO Filing Date: April 2011.

Venture Funding: Has raised $572 million since 2004. Backers include VantagePoint Capital Partners, Draper Fisher Jurvetson and Morgan Stanley Private Equity.

[slide title=”No. 2: Groupon”]

Size of Proposed IPO: $750M

Location: Chicago

Business: Largest online “daily deals” provider.

IPO Filing Date: June 2011.

Venture Funding: Has raised $792 million since 2008 from backers including New Enterprise Associates (14.6% stake), Accel Partners (5.5%), Kleiner Perkins Caufield & Byers, Greylock Partners, Battery Ventures, Maverick Capital, Maveron, Silver Lake Partners and Technology Crossover Ventures, according to company prospectus.

[slide title=”No. 1: Zynga”]

Size of Proposed IPO: $1B

Location: San Francisco

Business: Social gaming industry leader

IPO Filing: July 2011.

Venture Funding: Has raised $377 in venture funding, according to Thomson Reuters, as well as an investment of undisclosed size from Google, and several hundred million more in secondary investments from Digital Sky Technologies and others.

[/slideshow]