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The IPO this week of Santa Monica-based Demand Media has drawn widespread attention, with a number of articles yesterday talking about how the firm's market cap exceeded the New York Times Company after the IPO. In intraday trading Thursday, Green Dot (GDOT) had a market cap of approximately $2.68
The number of Southern California related initial public offerings is growing steadily upwards, as Gevo --originally started in Pasadena, and based on technology out of Caltech and UCLA--hit the market this morning. Gevo is just the latest in a surge of companies hitting the public markets which have Southern California links.
Los Angeles-based Internet Brands , which operates a suite of online, advertising driven websites across a wide range of verticals, said Monday that it would go private in a $640M, private equity deal, bucking the trend of Southern California companies filing to get to the public markets. Internet Brands had gone public just three years ago.
Monrovia, California-based Green Dot , the prepaid payment card provider, has launched itself into the mobile banking market today, unveiling its new GoBank bank account. The firm said it designed the new, mobile banking account "from scratch", specifically aimed at the new mobile generation.
Southern California appears to be on a IPO roll this month, with the pricing of Monrovia-based Green Dot 's IPO last night and expected trading today, following the successful IPO of Beverly Hills-based RealD last Friday.
Monrovia-based Green Dot , the provider of prepaid credit cards headed by Steve Streit, is looking to expand its market, with a partnership with the AARP. According to Green Dot Thursday, it will launch an "AARP Foundation" prepaid Mastercard, which will be tailored to older Americans. READ MORE>>.
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