I have been covering IPOs since Netscape dazzled the world with its offering. Well, this will be less common. Investors want business models that make sense. They want profitability that is foreseeable. This is when an auditor deems a company to be running out of cash.
Cash is king.
Yet, as the equity markets get selective, more Net companies will run out of cash. Now, expect a plethora of vulture funds. Seeing the low valuations, these funds will specialize in restructuring struggling companies. Who knows, perhaps some of these funds will go public. However, it appears that there is an oversupply of equity.