Lake Walshes in southern California, where a lot of tech companies are headquartered, is the ideal location for an IPO, according to two people familiar with the matter.
The Lake Waksan site offers a wide swath of waterfront property in the Lake Wilsons and is about three times the size of other companies in the region, including Google, according a person familiar with Lake Welsons bid strategy.
The site is in a prime location in a waterway that is the primary source of heavy water in the Bay Area.
It has a large, beautiful bay, and it’s well connected to other water sources, according the person familiar.
Companies seeking to locate in the area tend to be small and have deep pockets, the person said.
Lake Wesans bid strategy includes a proposal to sell a controlling stake in its parent company to an international group of investors, according this person familiar, who asked not to be identified because the details are confidential.
That bid has been rejected, and Lake Wysans proposal has been referred to the California Securities Commission.
The company has not publicly released its IPO valuation, but its stock price is up nearly 5 percent since it announced it had raised $6.6 million.
Some tech companies, including LinkedIn, Apple, and Google, are seeking to relocate to the Bay area, according, to people familiar.
Lake wales is also a popular destination for investors looking to take advantage of the region’s cheap land prices, according one of the people familiar, which helps offset the cost of building a new office building in the lake.
The company has been making a push to build offices in Lake Wlas, according people familiar who asked to remain anonymous because they weren’t authorized to speak publicly about the matter and the matter is private.
Lake Wesans bid, which was presented to the state, seeks to buy back a 10 percent stake in Lake Wesan, the people said.
This article was updated on Jan. 10 to include a statement from Lake Weslands bid strategy company.