Wednesday, April 1, 2009

Venture Backed IPOs Still Frozen

The freeze in the IPO market for U.S., venture backed companies continued in Q1, according to numbers released by Dow Jones VentureSource today. According to Dow Jones, total merger and acquisition activity only totaled $3.2 billion in the first quarter of 2009, down 65 percent from the $9.1 billion generated in liquidity last year. The numbers were the lowest quarterly total since 2003. VentureSource Global Research Director Jessica Canning said that "may not be at the bottom yet" explaining that the market has already reached the lows seen after the dot-com bust.