We are certainly off our bottom and have seen the worst of it. This is all part of momentum increasing in the IPO market.

KPMG is the clear comparable. Most of KPMG's life as a public company has been below its offering price.

Nobody cares about it. The IPO market is pretty quiet.

With all the top name underwriters it will be interesting to see if investors see if it's worth buying into.

Investors will be looking to see if Prudential can match Principal and Anthem.

It's a pretty bad sign. It's a sign for what investors are willing to pay for an Internet company that's not making a profit.