TITLE

WHY THIS IPO WON'T REIGNITE THE MARKET

AUTHOR(S)
Lashinsky, Adam
PUB. DATE
December 2003
SOURCE
Fortune International (Europe);12/8/2003, Vol. 148 Issue 12, p41
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
This article focuses on Google Inc.'s initial public offering (IPO). Listening to some folks on Wall Street and Sand Hill Road, you'd think Google's upcoming IPO was the second coming of Netscape -- a financial phenomenon that will spawn a whole new generation of IPOs, as Netscape did in 1995. Writing in the "Wall Street Journal," an editor of the Gilder Technology Report noted enthusiastically that Google "could reinvigorate the Valley and part the waters for a new round of Internet capital." Google is too special a case to serve as Moses for other Internet companies, never mind the overall market. If Netscape in 1995 proved that unprofitable Net startups could raise money from the public, Google will prove only that billion-dollar, highly profitable, quirky search-technology companies can do so now. A gaggle of tech companies that have grown profitably during the downturn -- including Salesforce.com, Shopping.com, VMware, and Motive -- are likely to go public in 2004 regardless of what Google does. Expecting greatness from Google is one thing. But trying to ride its coattails may result in a short trip.
ACCESSION #
11598765

 

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