HootSuite and Shopify Poised to Go Public: Report

Posted by Techvibes NewsDesk

Vancouver's HootSuite Media, Waterloo's Desire2Learn, and Vancouver's Vision Critical Communications are "among technology companies that will be ready to go public within two years," according to investor John Ruffolo of venture capital firm Omers, who was cited in a report by Bloomberg on a potential forthcoming wave of Canadian tech IPOs.

Quoth Bloomberg:

Canaccord Genuity Group forecasts that more than US$400 million will be raised through technology IPOs in Canada this year, which would be the most for the industry in more than a decade, according to data compiled by Bloomberg. Canadian investors are turning to technology for growth after three straight years of declines for mining and materials companies ... Technology companies in the country rose 36% in 2013, the biggest gain in four years and returning more than comparable U.S. firms. Entrepreneurs are choosing to stay in the country instead of moving to the U.S. because of the increasing availability of pre-IPO funding, said Ruffolo.

HootSuite, Desire2Learn and Vision Critical “certainly are big enough and the markets are ready enough,” said Tom Astle, head of strategy at Toronto investment firm Difference Capital, told Bloomberg, adding that "the market still seems to be fairly open."

HootSuite has been speculated to have a value of anywhere from $500 million to $1 billion following its record-breaking $165 millon Series B funding round last year. Founded in 2008, it's a lot younger than D2L or Vision Critical, which launched in 1999 and 2000 respectively. Astle figures HootSuite could easily raise well over $50 million in an IPO today, according to the report in Bloomberg. The Canadian company would be riding the wave of social media IPOs in the US, including Facebook, LinkedIn, and Twitter.

Quoth Bloomberg:

Five of the technology companies OMERS has invested in will be ready to sell shares to the public within the next two years, Ruffolo said. “We have the deepest IPO pipeline that we’ve ever seen,” he said in an interview at his Toronto office. In addition to Desire2Learn, Hootsuite and Vision Critical, e-commerce company Shopify Inc. and BuildDirect, an online construction-materials store, may soon be ready to go public, he said.

Shopify has also been valued speculatively at close to $1 billion and, like HootSuite, is young, having been founded in 2006. BuildDirect's is as old as D2L, having launched in 1999.

But the companies themselves remain quiet. D2L declined to comment to Bloomberg, as did Vision Critical, and HootSuite, and Shopify, and BuildDirect. HootSuite and Shopify have previously stated that ultimately they went to go public, but neither will offer even the vaguest idea of timing.

 

Company:
D2L Corporation
Website:
http://www.D2L.com/careers/jobs
Location:
Kitchener-Waterloo, Ontario, Canada

Founded in 1999, D2L is a leader in providing innovative eLearning solutions to academic and other leading organizations around the world. more

Company:
Shopify
Website:
http://www.shopify.ca
Location:
Ottawa, Ontario, Canada

Shopify is an Ottawa based commerce platform that allows anyone to easily sell online, at their retail location, and everywhere in between. Shopify offers a professional online storefront, a payment solution to accept credit cards, a point of sale system to power retail sales and a card reader to accept payments through a mobile phone. Shopify currently powers over 80,000 active online stores around the world,... more

Company:
Hootsuite Media, Inc.
Website:
http://www.hootsuite.com
Location:
Vancouver, British Columbia, Canada

Hootsuite is the world’s most widely used social media relationship platform. More than 10 million users, including 744 of the Fortune 1000 companies, trust Hootsuite to manage their social media programs across multiple social networks from one integrated dashboard. Learn more about how Hootsuite is revolutionizing communication at http://www.hootsuite.com. more

Company:
BuildDirect
Website:
http://www.builddirect.com
Location:
Vancouver, British Columbia, Canada

BuildDirect is a technology company that is knocking down walls, changing the foundation and building a smarter, simpler and empowered home improvement industry. With its BuildDirect Demand Rank™ and BuildDirect Product Rank™ custom analytic and forecasting tools, the company can identify in real-time, consumer interest in a product, its competitiveness in the marketplace, and locations it will best perform. This... more

Company:
Vision Critical
Website:
http://www.visioncritical.com
Location:
Vancouver, British Columbia, Canada

Vision Critical provides a cloud-based customer intelligence platform that allows companies to build engaged, secure communities of customers they can use continuously, across the enterprise, for ongoing, real-time feedback and insight. Designed for today’s always-on, social and mobile savvy customer, Vision Critical’s technology helps large, customer-centric enterprises discover what their customers want so they... more


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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more




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