2009 was a rough year for tech startups, particularly on the venture capital front. But there are promising signs that VCs might be loosening their purse-strings going into the new year, with social network and online service startups being the first beneficiaries, reports The Wall Street Journal.
Last month, for instance, social-networking advertising and software company RockYou Inc. received a $52 million infusion. Online textbook-rental service Chegg Inc. saw an investment of $57 million.
The IPO landscape is also showing signs of becoming a more hospitable environment for tech companies. For example, ReachLocal, which helps small businesses advertise online, is currently looking to go public, reports paidContent. The company, whose offerings include search, display, and analytics services, hopes to raise about $100 million in a stock offering.
