I recently got back from a visit to Boulder, CO, one of my homes away from home. There was palpable excitement in the air about noodles. You see, the recent Noodles & Co. IPO was pumping yet more money back into what appears to be a thriving entrepreneurial market in Colorado.
Noodles & Co. (Nasdaq: NDLS) is now one of the best-performing IPO of 2013, according to IPOScoop.com, with a 128.14% return from the offering price — which was on June 28.
Yes, noodles are hot. But so is cloud computing, biotech, and Internet services — many of these with even bigger gains. The first half of 2013 has been a robust market for IPOs. If you exclude the mega Facebook IPO from last spring, quarterly IPO proceeds are up 79% year-to-year, according to Renaissance Capital
Some hot tech plays went public in the 1H of 2013 and had great results, according to IPOscoop.com. These include cloud-marketing and CRM services Marketo (Nasdaq: MKTO) and Eloqua (Nasdaq: ELOQ), with respective returns of 94% and 104% off the offering price; Internet real-estate service Trulia (Nasdaq: TRLA), up 96% so far; Tableau Software (Nasdaq: DATA), up 84%; collaboration software player Textura (Nasdaq: TXTR), up 100%; and cloud HR service Workday (Nasdaq: WDAY), up 133%.
Biotech also continues to be red-hot with the following offerings completed in the 1H: Intercept Pharmaceuticals (Nasdaq: ICPT), up 225%; Regulus Therapeutics (Nasdaq: RGLS), up 195%; and Epizyme (Nasdaq: EPZM), up 147%.
Overall, technology and healthcare returns have been robust, with a thriving market in the United States in particular. Globally, proceeds raised in the first two quarters of the year totalled nearly $60 billion, according to Renaissance. The median deal sizes were $290 million and $268 million in Q1 and Q2, respectively.
Feeling left out? There are plenty more to come. According to IPO Scoop Founder and Editor John Fitzgibbon, the JOBS act is streamlining the IPO process and allowing more IPOs by speeding up the process. Fitzgibbon expects the healthy public markets, if they continue, to allow a busy IPO pipeline to continue through the summer.