Another Dot Com Goes Public
from the amazing,-but-true dept
So, following on the IPOs of Paypal and Netflix, Overstock.com has now gone public, selling their shares at $13 to raise $39 million. As we discussed earlier, they’re using the WR Hambrecht open auction IPO system, which should generate a much more accurate price for the shares. The $13 falls within the expected $12 to $16 range, so that’s probably a good sign. It will be interesting to see how the market responds tomorrow. Historically, IPOs that go through the open auction system haven’t been received as well, since they don’t have the same sort of underwriting clout pushing them up.
