Are We in a Tech IPO Bubble?

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Dec. 5 (Bloomberg) -- 37 Angels founder Angela Lee discusses why we may or may not be in a tech IPO bubble. She speaks with Trish Regan, Bill Cohan and Adam Johnson on Bloomberg Television's "Street Smart." (Source: Bloomberg)

Angela, what do you think?

It depends on how you define bubble?

Is it 2000 and evaluations are going to value off a cliff?

I don't think we are there.

Do i think people are getting a little irrationally exuberant and pushing prices up, definitely.

What else is out there?

What makes you think this is a bubble?

I think people aren't thinking about the next round.

First of all, not everyone need to be the c.e.o. of a start-up.

Six million start-ups are started every year.

Is that a lot.

Is that more than the past?

It is trending up every year.

It is 5% or 10 p.s.a. growth every year.

But with crowd funding, it is going to rapidly increase.

To it is not a bubble yet, so we have certainly set the stage.

Absolutely.

Bill?

I think val weighses are getting out of volley.

You have snap chad where they turned down $3 billion even though they have no revenue and not much prospect for any.

You have tumblr that yahoo pays $1 billionle for.

It is a great tool, great network on the net.

Is there a business there?

I am not sure.

Instagram was another.

Unlike in 1998 and 1998 where you just had eyeballs garnering things.

Maybe you can comment on this statistic.

In 2012 i.p.o.'s that came to market one month later were up 12% on average.

This year up 25%. that is twice.

Is that to you a sign of irrational exuberance?

I think it is.

There is a lot of money in the market right now, and i think it is -- you also keep hearing the buzz.

We keep hearing this $3 billion snapshot evaluation on twitter.

And people aren't hearing the other side of it.

People get swept along in the excitement of it.

The other side meaning of all the companies that go down the tubes without any evaluation?

Yes.

Six million companies getting started, 200 i.p.o.'s happen a year.

You are 10 finals more likely to get struck by lightning.

Social networking is where you are seeing a lot of this?

Saying social network is almost like a four-letter word

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

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