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Tech PR Agencies Hoping for IPO Market in 2010
Rumors abound this week that investors in user review social network Yelp are potentially pushing the company to IPO after turning down a $500 acquisition deal from Google. Similarly, “at least 50 venture-backed companies could seek to go public next year, possibly as high as 100,” reports Marketwatch’s Theresa Poletti.
This led us to thinking: Is it better for PR agencies to have clients in an M&A market or an IPO market?
“I sure wish there was a bigger IPO market,” said Horn Group CEO Sabrina Horn when asked the question in an interview with PRWeek on December 4th. “When a company goes public, their communications needs grow and expand. In an M&A market, when a company gets acquired, they go away, and that’s tough for agencies.”
Brew Media Relations founder Brooke Hammerling took client NetSuite through its IPO two years ago and has retained them since. “Obviously, we want our clients to be happiest,” she told PRNewser. “From an agency perspective, if a company is bought, that’s great for the company, but usually you wind down your work with them. The acquiring company will handle all PR. If a company goes public they will more likely keep their PR firm.”
Tech PR professionals: what’s your take? Leave your thoughts in the comments.
[Disclosure: This PRNewser previously worked at Horn Group.]
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