There have already been more tech IPOs in 2009 (5) than in all of 2008 (4), reports the WSJ, citing data from Renaissance Capital’s IPOHome.com Web site. What’s more, each of those IPOs produced first-day gains of 10% and better. OpenTable (OPEN), which went public last week, shot up 59% during its first day of trading. That made it the best IPO since December 2007.
The Journal says the common thread between all five companies are “strong revenue growth, and in many cases, generous profit margins, even when other factors made the companies seem risky.”