Changyou

Richard Waters

Finally, some good news on the tech financing front.

April turned out to be the best month for tech IPOs in at least a year. OK, two is not a lot to shout about. But that was as many IPOs as the previous 11 months combined, and the stocks have traded up nicely (Chinese games company Changyou by 92 per cent, online education company Rosetta Stone by 66 per cent.)

That probably explains why we hear, through an unconfirmed source, that Jeff Jordan recently bought himself three new suits in preparation for an IPO roadshow. 

Chris Nuttall

You would have to be a gaming company and it would help if you were Chinese, if planning a successful IPO in these treacherous markets.

Changyou ticked both boxes and closed 25 per cent higher than its $16 placing on its Nasdaq debut on Thursday. It had already been priced at the top end of a $14 to $16 range, such was the demand. 

  • Silicon Graphics finally passed on to the Great Valley in the Sky. The former star workstation maker long ago became the symbol for how old tech companies never die, they just linger. No longer: SGI filed for bankruptcy and sold itself to Rackable Systems for $25m.
  • As we reported at the weekend, and News Corp has now confirmed, former AOL boss Jonathan Miller is the new top digital executive of a domain that includes MySpace and News’ stake in Hulu. Miller’s name had also been in the frame recently as a potential head of Yahoo, as well as Microsoft’s online division.