Local online ad company ReachLocal IPO’ed yesterday, raising $54 million for investors. JP Morgan and Bank America Merrill Lynch underwrote the offering. $54 million is a respectable number, but nowhere near the highs seen during the tech boom of the 90s. Paul Boutin of VentureBeat essentially calls it boring (which not a little bit of sarcasm), but boring may just be better when it comes to IPOs. Here is Boutin’s analysis: ReachLocal IPO raises $54 million for local business-ad service
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