IPO

Facebook amends IPO filing with Yahoo patent suit details

Facebook filed a third amendment to its $5 billion initial public offering filing with the U.S. Securities and Exchange Commission today.

There aren't many changes to speak of -- except that Facebook has included notes about the recent lawsuit that Yahoo handed the social network over patent infringement earlier this month.

Although the suit is not a secret to anyone, at this point, it's a good idea for Facebook to disclose its potential liabilities -- both to the SEC and investors.

Actually, Facebook hinted at a pending legal battle with Yahoo in Amendment No. 2 to its … Read more

Reporters' Roundtable: JOBS Act makes crowdfunding the law

Crowdfunding is one step from becoming the law of the land. The JOBS Act, which has passed the House and the Senate in slightly different versions, is soon to be voted on again in the House for final approval, before it goes to the President, who has indicated he will sign it. This new law will make it possible for entrepreneurs to raise money from anyone they want to. It will also make it easier for new companies to go public, or to delay going public if they wish.

When JOBS becomes law, the landscape for technology startups will change dramatically. If you want to know how, and why it's happening, and what could go wrong when it does, watch this episode of the Roundtable.

Our guests today are:

George Zachary, partner at the VC firm Charles River Ventures Chance Barnett, CEO of the crowdfunding marketplace, Crowdfunder Tim Rowe, CEO of the Cambridge Innovation Center

… Read more

JOBS Act clears Senate, one step from becoming law

The JOBS Act has passed the Senate. In a 73 to 26 vote today, an amended version of H.R. 3606, which opens startup investing to individuals ("crowdfunding") and gives young companies more flexibility in filing to enter the public stock markets, cleared what is probably its last major hurdle before becoming law.

An amendment to increase investor protections in the crowdfunding section of the bill, Amendment 1884, passed the Senate earlier today. It increases restrictions on raising money from individuals, including a sliding scale of investment caps. And the bottom of the scale, individuals making less than $… Read more

JOBS Act debates getting more focused in Senate

The JOBS Act, a collection of regulatory changes that would make crowdfunding legal and make it easier for companies to become publicly traded, has been wending its way through congressional proceedings this week.

Today, two Democrat-sponsored Senate amendments to the House version of the bill--one to increase consumer protections in the crowdfunding section, and another unrelated amendment to reauthorize funding of the export/import bank--failed to win necessary votes in the Senate to be attached to the act.

The JOBS Act passed the House easily on March 8 by a 390-23 vote, and its supporters hoped that it would sail … Read more

Elevation seeks $1 billion with help from U2's Bono

U2 frontman Bono is embarking on a solo tour but it doesn't involve music. A private equity firm co-founded by the musician is hitting the road to search for more money, according to Reuters.

Elevation Partners, which has invested heavily in social networking, is now looking to dig up $1 billion for a second fund, reports Reuters. The company's largest investment to date has been in Facebook, to the tune of $270 million, which came in three installments and valued the social networking site at $16 billion at the time. (The company is now estimated to be worth $… Read more

Battle over crowdfunding slows JOBS Act passage

Crowdfunding will likely become the new law of the land, but not as soon as its advocates had hoped.

The JOBS Act passed the House easily on March 8 by a 390-23 vote, and its supporters hoped it would sail through the Senate. But today the Act has been delayed in the Senate by new arguments and amendments.

Senate Democrats created an amendment to the Act, S.AMDT. 1833, designed to improve transparency and consumer protections around the crowdfunding portion of the act. It would replace H.R. 2930, the Crowdfunding bill that is incorporated into the JOBS Act. Today, … Read more

JOBS Act to rewrite rules of Silicon Valley investing

This week, possibly as soon as tomorrow, the Senate is likely to pass the JOBS (Jumpstart Our Business Startups) Act. It has already passed the House, and most of the influencers in Silicon Valley are in favor of the bill. It will certainly change the way the Valley works. But not for the reasons many people think.

The JOBS Act is a collection of bills that were rolled up into one act in the House: H.R. 3606. The Senate was working on variations of some of the components included in 3606, but sources say that the most likely outcome … Read more

The stage is set for a monster Facebook IPO

With Yelp's impressive IPO out of the way, all eyes are now on Facebook and its highly anticipated public debut. And thanks to Yelp, Facebook will have a lot of momentum for its IPO.

On its first day as a public company, Yelp's stock jumped by more than 60 percent, valuing the company north of $1.4 billion. It remains to be seen how Yelp will fare in the weeks to come, but for now Wall Street has declared Yelp a winner.

It's a stark difference from Groupon and Zynga's run on the public market. Groupon … Read more

Yowza! Yelp surges to 64 percent gain in first day of trading

If there was any doubt about Yelp's IPO pricing, it should be laid to rest right now.

The local-reviews site kicked off its IPO at $15 a share today on the Nasdaq, but soon after trading began, the stock jumped 73 percent to $26. After hitting the high mark, the shares cooled off a bit, eventually ending the day up 64 percent to land at $24.58.

Yelp in November announced its plans to go public. The company yesterday priced its shares at $15, raising $107.25 million on the 7.15 million shares it made available.

From a … Read more