Of the 25 venture-backed companies that went public between December 2001 and November 2002, 10 or 40% were trading at or above their initial public offering (IPO) prices. Of these 25 recent IPOs, three companies have shown price increases of 75% or greater since their IPOs. JetBlue Corp., a discount airline, holds the top-gainer spot, increasing by 106%. Centene Corp., an HMO, follows with a 100% gain, and Dick’s Sporting Goods Inc., a sporting goods retailer, rounds out the top three with a 75% increase.
Two venture-backed companies went public during November 2002, raising $72 million. This brings the total number of venture-backed initial public offerings for the year to 22 (including PayPal which has been removed from the index due to its acquisition by EBay) and the total offering amount to $2.34 billion. In comparison, there were seven venture-backed IPO’s in November of 2001, raising $774 million. The average issue size of the deals so far this year is $107 million, a $24 million increase from the $83 million average for the same period last year.