Today’s round-up starts with dismal news of a down IPO market but perks up with the revival of social media darling Spourter and a positive small business hiring forecast.
Bad news for those of you who want to go public. Sarah McBride of Reuters writes that only five venture capital backed companies had successful IPOs in Q3—the worst showing in two years. The data comes from the National Venture Capital Association and Thomson Reuters, and says that the total IPO amount for the quarter was a measly $442.9 million. The good news? About 101 venture-backed companies were acquired. Maybe it’s time to warm up to your competitors.
Sprouter fans rejoice! The social media resource for startups is back in business (it closed back in August due to lack of funding). As Terry Brodie of The Globe and Mail reports, Sprouter was acquired by Canada-based Postmedia Network, Inc. The site will still operate with founder Sarah Prevette at its helm, and will keep the same look and branding. For those of you unfamiliar with Sprouter, check it out—it gives entrepreneurs and small business owners the opportunity to solicit advice from business vets.
It seems like hiring news changes from day to day. The latest? According to a survey titled ‘High-Growth Entrepreneurs Plan to Continue Growing,” which polled 133 CEOs, 96 percent of them plan to hire next year. Eric Markowitz of Inc. magazine reports that 41 percent plan to hire more than 20 people and 71 percent don’t outsource business operations to off-shore locations. This may seem like great news, but for perspective, the data was gathered at the recent Inc. 500|5000 Conference, a landing spot for the best and brightest. Even so, it’s nice to hold on to hope of a better future.
The good old days of skipping class are over, thanks TruantToday, a new startup launched in January by a 16-year-old and 18-year-old from Westlake Village, California. As Jessica Bruder of The New York Times reports, the company works to send out text and e-mail alerts to parents the minute their child cuts class. Buzz and funding are strong for this early venture as it runs free trials in schools around the country.
As a little Tuesday treat, Chris Brogan blogs on his site in pep-talk form about how business owners are smart to think back to their youth and identify things they’ve always wanted to do/accomplish. His message: stop complaining and make the choice to better your life.
About three years ago, The Boston Beer Company launched a program to help boost the economy by giving microloans to small businesses. So far, $825,000 has been dolled out to almost 100 businesses in New England, New York and Ohio. As Angus Loten of The Wall Street Journal blogs, the company is now expanding its loan offerings (of up to $25,000 per food and beverage company) to Chicago. That should help Rahm Emanuel sleep a little better at night.