LogMeIn, a US technology business that enables remote connections to a PC for support, access and backup, has just gone public.
This is great news for anyone who wants to raise venture capital or private equity. For VCs, trade sales are good, but can be messy and prolonged. All funds want to see the public markets are open for exits, and it makes them much more comfortable making new investments.
LogMeIn was backed by four VCs (Integral Capital Partners, Intel Capital, Polaris Venture Partners and Prism VentureWorks). Together, they invested $20 million for shares which are now worth $155 million.
If you’re in the market for venture funding at the moment, pray for more successful exits like this.
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