There’s a lot of folks gambling on the IPO market this week, with a bunch of IPO news — both from local VCs as well as one local company.

This morning, ReachLocal filed for an IPO,  in what has been a long-anticipated move for the firm. ReachLocal started releasing financial information as a private company earlier this year, saying in August it hit $147M in revenues; and has been rumored  among local tech execs to be prepping for an IPO for much of this year. Among the investors who will benefit for an IPO there are VantagePoint Venture Partners, Galleon Group (yes, that Galleon), and Rho Ventures.

On the VC side, two prominent local venture capital firms both have their hands in one IPO each. Late Friday night, a Silicon Valley firm, Meru Networks, whose major backer is Santa Monica-based Clearstone Ventures filed for an IPO. Clearstone owns 21 percent of Meru, and is represented on that firm’s board by local VC William Quigley.  Another local venture capital firm, Redpoint Ventures,  which is split between Los Angeles and Palo Alto, also has a portfolio firm in the IPO lineup, Solyndra (also in the Bay Area). Solyndra also filed for an IPO this week, looking to raise up to $300M for the firm’s solar panels.

In any case, it looks like investors are anticipating a lot of potential IPOs in coming months, which might unclog some of the backlog of portfolio companies looking for exits who had held off due to last year’s market crash. (Full disclaimer: both Clearstone and Redpoint have or are current sponsors of socalTECH, though our coverage is always independent of our advertisers and sponsors.)

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IPO by Benjamin Kuo