Report: R.I. 30th in nation for tech exits in first half of 2016

CB Insights recently released its Global Tech Exits Report, showing that the Ocean State ranked 30th in the nation for its number of exits for tech startups in the first half of 2016.
CB Insights recently released its Global Tech Exits Report, showing that the Ocean State ranked 30th in the nation for its number of exits for tech startups in the first half of 2016.

PROVIDENCE – CB Insights recently released its Global Tech Exits Report, showing that the Ocean State ranked 30th in the nation for its number of exits for tech startups in the first half of 2016.
California led the nation with tech exits in the first six months of the year, followed by New York, Texas, Massachusetts and Florida.
Rhode Island had four tech exits in the first half of the year, and all were mergers and acquisitions, according to a CB Insights spokeswoman.
The report, which analyzes global tech exits including mergers and acquisitions and initial public offering trends, as well as venture capital-backed exit trends, revealed that there were 1,590 tech exits worldwide during the first half of 2016, a 17 percent decrease from the same period last year.

After an “anemic” first quarter, there were 16 tech IPOs in the second quarter, including companies such as NantHealth, a Culver City, Calif.-based health care company, and Twilio, a San Francisco cloud communications company, the report said. NantHealth’s IPO was $1.69 billion, while Twilio’s was $1.2 billion.

The report said that IBM and Microsoft were the most active tech acquirers in the first half, and most tech companies – 53 percent worldwide – are exiting for less than $50 million.
The United States led tech exits worldwide in the first half of the year, with the internet sector dominating exits at 59 percent, followed by mobile and telecommunications at 15 percent, software at 10 percent, computer hardware and services at 11 percent, electronics at 5 percent and consumer products and services at 1 percent.
The U.S. was followed by the United Kingdom, Canada, India and Germany for tech exits. The internet sector dominated exits in those countries as well.
SV Angel and Lerer Hippeau Ventures held the first and second spots, respectively, for being the top investors in exited tech companies in the first half of 2016. Bessemer Venture Partners and 500 Startups tied for third in the investors list.

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