Kathleen Smith - Renaissance Capital


Last quote by Kathleen Smith

Some of these companies have had investments in these companies for ten years. They have to provide returns to their investors. That means they have to find a way out. There is going to be pressure from the limited partners. And pension companies have a boatload of money in private ventures. They have obligations they have to pay out as well. They can't stay private forever. That is not the business model for the private equity or venture people.feedback
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Jun 20 2017
Kathleen Smith has been quoted 36 times. The one recent article where Kathleen Smith has been quoted is Trader Talk: IPOs at the midpoint. Most recently, Kathleen Smith was quoted as having said, “Because IPOs are being priced more reasonably, so they have more room to move up. Investors in the IPO market have become hyper-sensitive to valuations.”.
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Kathleen Smith quotes

Feb 16 2017 - Snapchat

Snap is right to be conservative in setting the initial range. They want to avoid setting a range and then price below the range.feedback

Feb 03 2017 - Alibaba

That's why there is such high multiples for these software companies. The profit margins are really high because they can scale very easily without adding that many employees.feedback

Feb 02 2017 - Snapchat

I don't know any bank that would turn down the opportunity to be on the Snapchat IPO.feedback

Dec 19 2016

This could be the whale that ate the unicorns.feedback

Dec 19 2016

Many investments are now running on to 10 years old, about the limit for a private equity investment. Some are going to want to re-allocate at some point soon.feedback

Nov 02 2016

We are trying to project returns in the future, so you have to be confident in your model.feedback

Oct 24 2016

An active M&A market is a positive thing for the IPO market.feedback

Oct 24 2016

What makes ZTO important is it's so large. It'll be the largest IPO of the year. The Chinese IPOs this year in general, they've performed well. I don't think investors are afraid of China. They're looking for real growth.feedback

Oct 24 2016 - Snapchat

It's a cloud over the Snap IPO that's going to come.feedback

Oct 24 2016 - Twitter

On a negative note, Twitter has been on the block and hasn't been sold. There's always a price for a company. ... The strategic value has not been better than the dilution they would have to incur to own it.feedback

Oct 13 2016 - Snapchat

Investors aren't willing to buy growth at all costs.feedback

Oct 06 2016

The companies that have come out have come out at low valuations compared to their peers and in some cases – like Nutanix and Coupa Software – priced below their last round of funding. So they have been leaving a lot of money on the table. Now that some are trading up notably on the first day, others will try to come out at higher prices – and that could be a problem.feedback

Oct 06 2016

Because we had the shutdown in the market since April, investors have been nervous about valuation.feedback

Oct 03 2016

I think we can say for sure that there's a lot of interest now, contrary to the beginning of the year, in high-growth technology IPOs.feedback

Oct 03 2016

They have a lot of visibility and strong cash-flow dynamics – that's a long-term thing.feedback

Oct 03 2016

We think this is a good business.feedback

Oct 03 2016

Investors are willing to value high-growth companies as long as volatility is low.feedback

Oct 03 2016

We expect more this year, and we'd imagine some of the larger ones are targeting 2017.feedback

Oct 03 2016

Tech IPOs are being very well received right now in the market. ... The window has opened up.feedback

Sep 30 2016

Nutanix is a very important deal for technology, because as a deal that will be above its private valuation. It is a sign that there's an appetite for a high-growth company that doesn't yet have earnings.feedback

Jul 15 2016

The success of Line is sending a clear message that the IPO market is open for business.feedback

Jul 14 2016

Strong returns are the fuel that powers the IPO issuance engine.feedback

Jun 22 2016

It doesn't look like the company fundamentals will be hit by some of the macro-events, because it's riding on a wave of new technology.feedback

Jun 10 2016 - Alibaba

This is not going to help the case for the unicorns. The more you wait, the more the competitors come out.feedback

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