2015 shaping up to be a big year for high-tech IPOs

The year has already seen several highprofile tech IPOs. Here’s what’s on the market and what could be coming.

Launched

Shopify Inc. Completed: May 27 Offer size: $131 million (U.S.) Offer price: $17 (Cdn.) TSX midday price on June 10: $34.60

Backed by venture capitalists, the Ottawa-based vendor of software that helps merchants sell products and services online saw its offer oversubscribed by as much as 30 per cent. The company has rapidly expanded revenue to $105 million (U.S.) but has posted cumulative losses of $33.6 million since it was founded in 2006 and expects the red ink to continue as it expands. Some analysts are advising caution, noting that Shopify faces risks due to its reliance on resellers and payments-processing outsourcing.

Stingray Digital Group Inc.

Completed: June 3 Offer price: $6.25 Offer size: $140 million TSX midday price on June 10: $8.08

Inspired by the success of Shopify, investors piled into the Montreal-based company’s IPO, which raised $179.5 million including an over-allotment option granted to underwriters. Sting- ray Digital started life in 2007 as the Karaoke Channel but now offers music TV channels, smartphone apps and online streaming services.

Innova Gaming Group Inc. Completed: May 5 Offer size: $49.08 million Offer price: $4 TSX midday price on June 10: $3.72

The operator of online gambling sites PokerStars and Full Tilt priced its IPO below its targeted range and reduced the amount it planned to raise via a secondary offering after parent Montreal-based online gaming company Amaya Inc. came under investigation by Quebec’s security regulators over trading activity.

Pending, possible public offerings:

Mogo Finance Technology Inc.

Filed a preliminary prospectus in May and could complete IPO within weeks. The company aims to raise $50 million through a TSE listing.

Mogo, which allows customers to apply online for loans of up to $25,000, is attempting to establish a first-mover advantage as Canada’s only “full spectrum” online lender, according to Cantech Letter.

BuildDirect

Vancouver-based online home improvement products retailer uses pro-

prietary software to offer shipping solutions for items that weight more than 68 kg.

Vision Critical

Cloud-based business data platform with headquarters in Vancouver.

Payfirma

Vancouver startup’s technology allows customers to streamline payments.

Hootsuite

Sells software to manage social media. Investor appetite for Shopify’s shares could hasten an offering that was not expected until next year.

Shop.ca

Toronto-based online retailer.

Wattpad

Toronto-based writing platform lets users post articles online or through app.

Shoes.com

Has raised more than $45 million and could pursue an IPO in the fall.

PointClickCare

Mississauga cloud-based health-care platform.

Real Matters

Thornhill property info provider.

Desire2Learn

Kitchener developer of the Bright-space integrated learning platform.

Chango

Toronto-based online marketer.