The Decade’s Top VC-Backed IPOs

Just running some IPO data, and noticed something kinda creepy (at least if you’re semi-religious and/or watched lots of Headbangers Ball): There were 666 VC-backed IPOs over the past decade, which raised $66.6 billion.

Not exactly a great omen for investors who are banking on an IPO rebound in the near future. Or maybe the endtimes refers to just the recent IPO market — just 19 offerings in 2008-2009 — which most everyone would be okay with obliterating. Or, most likely, this is just a wonderful piece of statistical symmetry.

Moving on: What follows is a slideshow of the decade’s ten largest VC-backed IPOs, including brief updates on where the issues currently stand. Each offering caused cork-popping at the time, but only a few retained their glory…

[slideshow]
[slide title=”Semiconductor Manufacturing International”]
Offer Size: $1.8 billion
Offer Date: 3/12/04
Price per share: $17.50
Exchange: NYSE: SMI

VC History: The company raised nearly $1 billion in VC and private equity funding, from firms like include TA Associates, Madison Dearborn Capital Partners, Accel Partners, M/C Venture Partners and Battery Ventures.

Current price per share: $3.24
Percentage change: (-81.49%)

[slide title=”Google”]
Offer Size: $1.67 billion
Offer Date: 8/19/04
Price per share: $85
Exchange: Nasdaq: GOOG

VC History
: Google raised around $40 million in VC funding, from Kleiner Perkins, Sequoia Capital and several individual angels.

Current price per share: $620.46
Percentage change: +629.95%

[slide title=”MetroPCS”]
Offer Size: $1.15 billion
Offer Date: 4/19/07
Price per share: $23
Exchange: NYSE: PCS

VC History
: MetroPCS raised nearly $1 billion in VC and private equity funding, from backers like TA Associates, Madison Dearborn Capital Partners, Battery Ventures, J.H. Whitney & Co. HarbourVest Partners, M/C Venture Partners, JPMorgan Partners, First Union Capital Partners (Wachovia), Accel Partners, Primus Ventures, Paragon Capital Partners, Columbia Capital, Clarity Partners, Invesco, Technology Ventures, Flagship Ventures and Silver Creek Ventures.

Current price per share: $7.61
Percentage change: (-66.91%)

[slide title=”Corvis Corp.”]
Offer Size: $1.14 billion
Offer Date: 7/28/00
Price per share: $36
Exchange: Nasdaq: BWNG

VC History: The company raised around $280 million, from Kleiner Perkins, Kinetic Ventures New Enterprise Associates, Arete Corp., BlackRock, Cisco Systems, Gilbert Global Equity, Integral Capital Partners, Meritech Capital Partners, Pivotal Partners, Teknoinvest Management and Worldview Technology Partners.

Update: Corvis changed its name to Broadwing, and then was acquired in 2006 by Level 3 for $1.35 billion. Its post-IPO value was just under $1.2 billion.

[slide title=”Clearwire Corp.”]
Offer Size: $600 million
Offer Date: 3/7/07
Price per share: $25
Exchange: Nasdaq: CLWR

VC History: ClearWire raised around $1.2 billion in VC and private equity funding, including a $900 million infusion led by Intel Capital. Other significant backers included Bell Canada, Motorola and company founder Craig McCaw.

Current price per share: $6.79
Percentage change: (-72.84%)

[slide title=”Vonage Holdings”]
Offer Size: $531 million
Offer Date: 5/24/06
Price per share: $17
Exchange: NYSE: VG

VC History
: Vonage raised around $396 million in total VC funding, from firms like Bain Capital, Meritech Capital Partners, New Enterprise Associates, 3i Group and Institutional Venture Partners.

Current price per share: $1.45
Percentage change: (-91.47%)

[slide title=”Dobson Communications”]
Offer Size: $440 million
Offer Date: 2/4/00
Price per share: $20
Exchange: Nasdaq: DCEL

VC History: Dobson Communications raised around $102 million from firms like Nautic Partners (fka Fleet Equity Partners) and J.H. Whitney & Co.

Update: The company was bought in 2007 by AT&T for $2.8 billion. Its post-IPO value was around $2.05 billion.

[slide title=”Intercontinental Exchange”]
Offer Size: $415.93 million
Offer Date: 11/16/05
Price per share: $26
Exchange: NYSE: ICE

VC History
: IntercontinentalExchange eraised over $40 million in VC and private equity funding from TA Associates, Morgan Stanley Private Equity, Deutsche Bank, Goldman Sachs and Societe Generale.

Current price per share: $112.29
Percentage change: +331.24%

[slide title=”Carrier1 International”]
Offer Size: $409.8 million
Offer Date: 2/24/00
Price per share: $17.48
Exchange: Nasdaq: CONEQ

VC History
: Carrier1 raised around $37 million from Primus Ventures and Providence Equity Partners (both firms now focus almost exclusively on buyouts — but were still doing VC in the late 1990’s).

Update: The European company filed for a version of bankruptcy protection in 2002.

[slide title=”Savvis Communications”]
Offer Size: $358.21 million
Offer Date: 2/14/00
Price per share: $24
Exchange: Nasdaq: SVVS

VC History
: Savvis raised VC funding — and later some PIPE funding — from firms like Advantage Capital Partners, BCI Partners, Constellation Ventures, First Union Capital Partners (Wachovia), Two Rivers Associates and Welsh Carson Anderson & Stowe.

Current price per share: $14.25
Percentage change: (-40.63%)
[/slideshow]