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TheStreet Open House

3 IPOs Logging a Blockbuster Week

By Tom Taulli, InvestorPlace Writer

NEW YORK ( InvestorPlace) -- Because of the Thanksgiving holiday, no IPOs are scheduled for this week. However, there's a good chance we'll see some filings, as well as updates on upcoming deals, such as with Zynga.

Instead, let's take a look at the IPO action for last week.

The good news is that -- after a horrendous summer -- investors are showing renewed interest in deals. But that interest is selective. The fact is that, for many of last week's deals, underwriters had to price the offerings at discounted valuations.

  • Also see: Asset manager's IPO struggles out of the gate
  • Those companies that showed strength, such as Angie's List (ANGI), Mattress Firm (MFRM) and InvenSense (INVN) have standout growth records. And investors always are looking for ways to juice up their portfolios.

    So let's take a look at these recent IPOs:

    Angie's List: The company has carved out a strong niche as a matchmaker for contractors. Revenues include a blend of advertising and paid memberships (the base is over 1 million).

  • Also see: LinkedIn's Reid Hoffman has a Facebook IPO prediction
  • However, the company has been spending aggressively to attract users and customers. During the first nine months of this year, these costs came to $48 million. This compares to revenue of $62.6 million. So the question investors have to ask themselves is "Can Angie's List really get to profitability anytime soon?"

    Mattress Firm: The mattress retailer has 757 stores across 25 states and has been growing like a dot-com. For the first half of this year, MFRM's revenues spiked by 41% to $331.8 million and net income was $4.7 million. The company has posted 24 consecutive months of positive comparable-store sales growth.

  • Also see: Intermolecular shares built for tech's big picture
  • More importantly, despite its growth, Mattress Firm has plenty of room to stretch its legs. MFRM believes that its market potential in the U.S. is 2,500 stores.

    InvenSense: The company develops motion-processing semiconductors, which can sense movement in a three-dimensional space. The company's marquee customer is Nintendo (PINK: NTDOY), a company that uses the technology to power the Wii Motion Plus. This system uses "Wiimote" controllers that mimic the use of such things as tennis rackets and golf clubs to interact with games.

    For fiscal years 2009 to 2011, InvenSense's revenue went from $29 million to $96.5 million. INVN also is profitable, with net income of $20.5 million in the first half of 2011.

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