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5 IPOs Tech Needs Now

No. 5: Swype

Touch-screen gadgets. Love them or hate them, they aren't going away. Swype makes a touch-screen typing application that lets you drag your finger from key to key rather than tap out the letters. Users say they find Swype faster and more accurate.

The Seattle shop has 35 employees and doesn't have immediate plans of going public, said CEO Mike McSherry. The company mission is simple: Sell Swype to as many telcos and phone makers as possible. Swype has made inroads at Google's Android effort and is expected to be available later this year on the Motorola (MOT) Droid X. Samsung and HTC phones are also included in the list. But one name is missing -- Apple. And that's not likely to change anytime soon.

"I don't think they like the fact that we work with other companies," McSherry said at the recent Verizon (VZ - Get Report) Droid X introduction show in New York.

Apple is so touchy. Swype would give investors a software company that supplies nearly all the cutting-edge superphone makers. But the company might also get tossed aside by the next input-software star on the block.

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