Hootsuite, Shopify, BuildDirect and Others To Go Public?

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A new Bloomberg report that quote’s OMERS Ventures’ John Ruffalo is saying that several Canadian technology companies could be going public soon.

Social media and online-education startups are “poised to lead a resurgence in technology initial public offerings in Canada as investors burned by a slump in the commodity industry turn to more lucrative markets,” reads a succinct opening sentence.

Hootsuite Media Inc., Desire2Learn Inc. and Vision Critical Communications Inc. are “among technology companies that will be ready to go public within two years” according to Ruffalo.

But that’s not all: Mark McQueen of Wellington Financial was quoted as saying the “Canadian IPO window is open” and will be for the remainder of 2014. Among those other companies in the group could be Ottawa’s Shopify and Kanata’s BTI Systems, which are “all on the speed dials of Canada’s tech investment bankers,” wrote McQueen.

Bloomberg revealed that more than $400 million will be raised through technology IPOs in Canada this year, which would be the most for the industry in more than a decade. Tech companies in Canada rose by 36 percent in 2013 and investors are increasingly turning to the space after slumps in mining and materials companies.

Hootsuite, Desire2Learn and Vision Critical “certainly are big enough and the markets are ready enough,” Difference Capital Tom Astle told the media company. “The market still seems to be fairly open. They’re quite hungry for growth products versus commodity-resource-type products.”

Vancouver’s Hootsuite provides a social media dashboard platform for both individuals and enterprise clients. Desire2Learn Inc. is a leader in providing innovative eLearning solutions to academic and other leading organizations around the world. Vancouver-based Vision Critical, which was founded in 2000, creates software for market research that helps brands survey customers and get feedback in online forums. BuildDirect is an e-commerce provider in the retail building products industry that bridges the gap between the manufacturer and end user.

Joseph Czikk

Joseph Czikk

Joseph Czikk previously has written for the National Post, Montreal Gazette, Vancouver Sun, Regina Leader Post, Techvibes and BC Business Online. Joseph often goes crazy on twitter during NHL and NFL games.