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		<title>LogMeIn Logs IPO Gains</title>
		<link>http://allthingsd.com/20090701/logmein-logs-ipo-gains/</link>
		<comments>http://allthingsd.com/20090701/logmein-logs-ipo-gains/#comments</comments>
		<pubDate>Wed, 01 Jul 2009 20:00:22 +0000</pubDate>
		<dc:creator>John Paczkowski</dc:creator>
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		<title>LogMeIn: IPO Drought? Feh&#8230;</title>
		<link>http://allthingsd.com/20090701/logmein-ipo-drought-feh/</link>
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		<pubDate>Wed, 01 Jul 2009 16:50:48 +0000</pubDate>
		<dc:creator>John Paczkowski</dc:creator>
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		<description><![CDATA[Earlier this week John Fitzgibbon, founder of IPOScoop.com, said that LogMeIn was an IPO "candidate that should blow the socks off people." Looks like he was right.]]></description>
			<content:encoded><![CDATA[<p><img src="http://digitaldaily.allthingsd.com/files/2009/07/logm.jpg" alt="logm" title="logm" width="200" height="194" class="alignright size-full wp-image-20568" />Earlier this week, John Fitzgibbon, founder of IPOScoop.com, said that LogMeIn was an IPO <a href="http://online.wsj.com/article/SB124623701308966781.html">&#8220;candidate that should blow the socks off people.&#8221;</a></p>
<p>Looks like he was right.</p>
<p>LogMeIn became the fourth venture-backed IPO of 2009 this morning, hitting the markets with an offering that raised $107 million for the remote-services technology provider. <a href="http://www.sec.gov/Archives/edgar/data/1420302/000095012309019360/b75316b4e424b4.htm">Priced at $16 each</a>, the high end of the stock&#8217;s IPO price range, LogMeIn (LOGM) shares spiked more than 30 percent to $20.90 shortly after the company made its public debut.</p>
<p>Great news for LogMeIn, which filed to go public in January 2008, only to see its prospects for doing so trashed by the econalypse. Great news as well for venture-backed companies hoping to go public. “The IPO window has cracked open a bit,’’ <a href="http://www.boston.com/business/technology/articles/2009/06/30/woburn8217s_logmein_plans_ipo/">Emily Mendell, vice president of strategic affairs for the National Venture Capital Association told the Boston Globe</a>. “I think the market has become slightly more stable.’’</p>
<p>It would certainly appear that way. Shares of SolarWinds (SWI), a network-management software outfit, are up 24 percent since their debut, and <a href="http://digitaldaily.allthingsd.com/20090521/opentable-shareholders-apparently-excited-to-book-reservations-in-empty-restaurants/">online restaurant-reservation service OpenTable’s</a> (OPEN) shares have soared 52 percent since they began trading in May.</p>
<p>Clearly, we’re seeing something of an awakening in the moribund IPO market, although whether it will continue is anyone’s guess. &#8220;I think this is a temporary market window,&#8221; David Liu, a managing director at Jefferies &#038; Co., told Forbes. &#8220;The economy is still screwed up&#8230;.We&#8217;re telling our clients, if you can get on file and do something quickly, go ahead and do it now so you&#8217;re not caught flat-footed.&#8221;</p>
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