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 The National Venture Capital Association and Thomson Reuters rang in the new year Monday with a final tally of 2008 venture-backed exits, and, as one would expect, the numbers were dismal.The year ended with only six IPOs -- the worst performance since 1977 -- and 260 acquisitions of VC-backed startups, marking the first time in five years when the annual M&A tally dipped under 300. There were no VC-backed IPOs in the fourth quarter, and only 37 acquisitions during the period. Twenty-eight companies have filed S-1s and are waiting in the wings to go public, the latest being Penthouse magazine owner FriendFinder Networks Inc., which made its public aspirations known Dec. 23. But for the most part, the bad news continued in the waning days of the year, with two more tech companies -- online media startup NameMedia and Web ad services firm Eyeblaster Inc. yanking their IPOs on Christmas Eve. - Olaf de Senerpont Domis See Jan. 5 press release from NVCA and Thomson Reuters See FriendFinder profile from Renaissance Capital's IPOhome See FriendFinder's Dec. 23 S-1 from SEC.gov See March 11 post on Eyeblaster's IPO from Tech Confidential
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This means that the IPO's that do happen will be successful as those will have prepaid subscribers.Only three industries are somewhat immune to this crisis
1) entertainment, a bit not much
2) natural gas exploration in the Marcellus Shale formation in Pennsylvania
3) medical devices and some new pharmaceuticals