China's Alibaba Projected to Lead IT IPOs in 2014
NEWS ANALYSIS: Alibaba dwarfs even Amazon.com by sales volume: $160 billion in 2012 compared with $86 billion for Amazon.Despite a few noisy IT industry experts who believe another financial "bubble" is inevitable and could hit in the near future, 2014 nonetheless appears to be a promising year for initial public offerings because the pipeline of hot companies ready to access the market is stronger than ever. This insight comes from attorney Rick Kline, a partner in the Goodwin Procter law firm, which has served as lead adviser on IPOs for Xoom, Gigamon, Marketo, Control4 and several others in the last several years. Overall, Goodwin Procter handled 18 IPOs in 2013 in the technology and life sciences sectors, ranking second behind Davis Polk as the most active of all law firms advising on IPOs. "The pipeline is great for 2014. There are a number of companies who have filed confidentially or are gearing up for their first filing," Kline told eWEEK. "My sense is that the market is in great shape, unless there is some external event that hits us or the U.S. has a problem with the debt ceiling issue. I expect 2014 to be robust as 2013 was." No Facebook, Twitter in Sight for 2014
In the last two years, a number of companies decided to wait for Facebook (May 2012) and then for Twitter (November 2013), Kline said, to gauge interest from the market. "The one I hear people talking about this year is Alibaba [the Chinese e-commerce site]," he told eWEEK.