There were no IPOs in the first quarter and none in the previous quarter, the first time on record that's happened, according to the National Venture Capital Association.
John Cook at TechFlash also reports that in the mergers and acquistions market, 56 companies sold in an average disclosed deal value of $49.6 million during the quarter. During the same period a year ago, there were 106 deals at an average deal value of $113 million.
His commentors then get into a fistfight over Sarbanes-Oxley. But there have been rumblings of some possible IPOs lately, namely by Facebook.