Thursday, June 24, 2010

eSolar Gets Focus In Solar IPO Speculation

Pasadena-based eSolar, the solar thermal technology firm backed by Idealab, Google, and others, is being eyed as the next possible solar IPO in the pipe, according to GigaOm. Citing the Next Up! research report released yesterday on Santa Monica-based SharesPost, the report says that eSolar has an estimated valuation of close to $700M. The report says that eSolar has deals lined up which could bring it $185M per year by 2015. eSolar is heavily backed by Idealab, Google, Oak Investment Partners, Quercus Trust, NRG Energy, and others.

SharesPost, the online marketplace for private company shares, is headed by Greg Brogger, and has become a regular source for speculation and stories about the valuation and IPO prospects of private companies. SharesPost allows owners of private, venture backed firms--usually executives and employees--to sell their shares to accredited investors through an online marketplace. The site also regularly features reports on the valuation and prospects of those privately held firms. Interestingly enough, SharesPost itself has deep ties to Idealab, the backer of eSolar, as Greg Brogger was a VP at Idealab, and was the COO of CarsDirect.com, an Idealab firm.

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