NEW YORK ( TheStreet) -- Venture capital-backed initial public offerings strengthened during the first quarter of 2011, marking the highest number to go public during a three month period since 2007.
Fourteen venture-backed IPOs valued at $1.4 billion priced during the quarter, up from 9 offerings with a total of $936 million raised during the same period last year, according to the National Venture Capital Association.
|LinkedIn filed to go public in January.|
Half of the IPO exits for the quarter came from the information technology sector, including data center company InterXion (INXN), the largest offering for the period.
Of these offerings, 11 are trading at or above their offering price, like Chinese Internet company Qihoo (QIHU), whose IPO doubled in size after its debut, and software company ServiceSource International (SREV), which saw shares rise 22% following its offering.A strong IPO market could spell good news for the 49 companies that have registered to go public but haven't yet priced, like LinkedIn, Pandora and Kayak, said Lou Basenese, chef investment strategist at White Cap Research Group. "
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