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MySQL had raised $18.5 million in series C funding in early 2006 (total $39 million) and Mickos says that half of that capital is unused. The company has started talks with bankers.
Long a favorite of web developers, MySQL saw serious growth in 2006 and added 2,500 new customers, and also introduced MySQL Enterprise. There seems to be a renewed interest in open source IPOs. SourceFire, an open source company is looking to raise $75 million and list on the NASDAQ. There are quite a few others with similar plans. This is not as crazy as the LPO (Linux Public Offering) boom during the 1990s bubble. For starters, the corporations have taken a shine to the open source software.
Secondly, most companies with IPO dreams have been around for a while and have been able to build solid businesses around their offerings. Open Source Weblog has a nice overview of open source public offerings.