A number of tech companies are getting ready to ride the coattails of the Facebook IPO. Palo Alto Networks, ServiceNow and Workday are rumoured to be preparing for an IPO filing. According to Reuters, Splunk(software) and Violin Memory (flash memory manufacturer) are also planning their IPOs. These companies are expected to go public with valuations north of $1 bn.
Here’s where they are in the process:
1. Palo Alto Networks: is rumoured to be picking its bankers this week. It could go public before the end of Q2.
3. Workday: has narrowed potential underwriters to a shortlist but isn’t revealing any details.
4. Violin Memory: is involved in ‘early talks’ with banks about a possible 2012 IPO filing.