A Big Year for Tech IPOs

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Dec. 27 (Bloomberg) –- Chegg President & CEO Dan Rosensweig discusses the tech IPOs that have all listed this year and the process of taking a company public with Jon Erlichman on Bloomberg Television’s “Bloomberg West.” (Source: Bloomberg)

House.

My daughter came home from college.

My wife did everything.

Our data -- our ipo is reaching an anniversary.

That is anniversary it of itself.

You were doing your ipo roadshow the same time that twitter is doing it.

Talk to us about the process.

Shed some light on why this is the year for tech ipos.

The process is grueling.

You're on the road for nine straight days.

You meet with 65 one on ones.

You tell your story.

It is exciting to represent your company and employees.

It is a grueling process.

It is a process that needs to be read visited.

I do not understand why with all of the technology that exists that you cannot do the things electronically.

The reason that a lot of companies went public this year is that they were right to go public.

They have been around for a long time.

The company was seven years old.

If you look at the successful ones, facebook, twitter -- they have reached the age where revenue growth is strong enough.

Profitability is strong enough.

There was a gay reception for ones who had come out earlier.

Pandora and others who have been successful.

Also, your job is to raise capital.

At the best rate that you can raise it.

It turns out that the public markets were much more willing than the private markets to give companies the value that they deserved.

What you saw was just the beginning.

Wendy 14 will be even bigger.

What changes when you are a public company?

Facebook and twitter have gone company.

How does that affect the flow in the valley.

Does that change anything?

It changes a lot of things.

A lot of ceos will say it changes nothing and they're not telling the truth.

You have a whole constituency of public investors.

They do have a voice in your company.

They own your company and you run it differently.

If you think about all the companies that we like, most of them spend their time talking about modernization.

Facebook started to focus on mobile and modernization.

Now video and video ads.

These are things they probably never would've heard about before.

Twitter is introducing new ads.

All good for the business.

Even google.

When they went public, they moved their engineers off onto search modernization.

Priorities change.

At the end of the day, it all equals out.

These are great companies trying to build hundred year companies and tear out the right balance.

Coming out of the gate is not the easiest thing.

Another theme was leadership changes at older technology companies.

The obvious one is microsoft.

The company is still looking for its new leader.

What do you make of their situation?

When i make of it is what we have seen.

There is probably -- companies that have been public for 100 years, there are not many of them.

There's one from the west coast, wells fargo.

Technology companies, ibm is probably the only one that has been public more than 100 years.

Technology companies have not been around that long.

They have to learn to go through this leadership transition.

You're seeing a lot of companies -- my former company, yahoo!, struggled with change for years.

There are two models at work.

Ebay under john donahoe.

And adobe -- these were older companies that went through model transitions and leadership transitions.

You start to see the beginning of that with meg whitman.

Microsoft will be a difficult opportunity or challenge for whoever takes it.

You mentioned yahoo!. do you think the microsoft board has observed at the yahoo!

Scenario and what has happened with morris the?

I think that microsoft goes on its own angle.

They have a view of what they want.

Marissa has done a phenomenal job.

A lot of the benefits outside of yahoo!

Is alibaba.

I am excited about the guy who

This text has been automatically generated. It may not be 100% accurate.

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