Skip to: Content
Skip to: Site Navigation
Skip to: Search

December 2, 2008 11:11:10 AM CST

Learn about Newser Points »

« Back to the grid | Next story »

Ellison-Backed IPO Wraps '07

Posted Dec 17, 07 7:40 AM CST in Business 

(Newser) – On-demand software company NetSuite goes public this week with an offering likely to draw the bulk of attention in an otherwise quiet finale for IPOs. Only three firms will go to market, compared to eight in last year’s final week. Oracle CEO Larry Ellison’s NetSuite hopes to raise $100 million, despite never having been profitable, reports the Wall Street Journal.

NetSuite revenue was up 63% over 2006 in the first three quarters and, despite a $1.8 million loss in the third quarter, the outlook excites some investors. "Their top-line growth is outstanding," said one analyst. Not everyone agrees. NetSuite’s IPO will go out as a modified auction, which could drive the price beyond market demand.

Source Wall Street Journal

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • Market Meltdown Reshapes Forbes Rich List

    Oct 10, 08 12:15 PM CDT
    Market Meltdown Reshapes Forbes Rich List The mortgage meltdown has certainly hit middle-class Americans hard but hasn't spared the uber-wealthy, Bloomberg reports. Las Vegas Sands CEO Sheldon Adelson’s net worth shed $4 billion between Aug. 29 and Oct. 1, for instance, while Warren Buffett overtook Bill Gates, whose net worth declined $1.5 billion, as the richest American. Other losers and their losses:
    More »

  • Web 2.0 Firms Taking Slower Route to IPOs

    Mar 6, 08 1:19 PM CST
    Web 2.0 Firms Taking Slower Route to IPOs Growing Web 2.0 companies like LinkedIn, Facebook, and Slide are biding their time before going public, making sure to run up their value as much as possible to fetch top dollar with an IPO, reports Business Week. It’s a far different approach than companies took before the dot-com bubble burst, when the fast track to an IPO was the goal. More »

  • Oracle Wins BEA With Sweetened $8.5B Bid

    Jan 16, 08 7:51 AM CST
    Oracle Wins BEA With Sweetened $8.5B Bid Business software maker Oracle continued its yearlong buying spree, closing a contentious deal with middleware maker BEA Systems after raising its offer to $8.5 billion, or $19.38 a share, Bloomberg reports. In October, Oracle offered BEA $6.7 billion, or $17 per share, and was rejected. Instead BEA, one of the Silicon Valley's last midsize independents, demanded what Oracle termed an "impossibly high" $21. More »

  • NetSuite IPO Brings Market Early Christmas Gift

    Dec 21, 07 6:19 AM CST
    NetSuite IPO Brings Market Early Christmas Gift Online software provider NetSuite reminded Wall Street of the good old days yesterday as the year’s final IPO scored a 36.5% increase over its opening price, reaching $35.50 by the NYSE closing bell, reports the Wall Street Journal. The company, backed by Oracle CEO Larry Ellison, in the last week doubled its target price from near $13 to $26. More »

  • NetSuite Doubles IPO Price

    Dec 20, 07 5:11 AM CST
    NetSuite Doubles IPO Price On-demand software vendor NetSuite has doubled the price on its IPO after a Dutch-auction-style bidding war over the past two days saw investor interest surge. After originally pricing the offering at $13-$16, NetSuite bumped it to $16-$19 Tuesday and then $19-$22 yesterday. Late last night the company set a target at $26 for today’s sale, MarketWatch reports. More »

Oracle CEO Larry Ellison crosses his fingers as he speaks at Oracle World Conference in San Francisco, Wednesday, Nov. 14, 2007. (AP Photo/Paul Sakuma)   (Associated Press)
Oracle CEO Larry Ellison speaks at the Oracle World Conference in San Francisco, Wednesday, Nov. 14, 2007. (AP Photo/Paul Sakuma)   (Associated Press)
Oracle CEO Larry Ellison smiles during the Oracle Open World conference in San Francisco, in this Oct. 25, 2006, file photo. (AP Photo/Paul Sakuma, file)   (Associated Press)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Tags

IPO • Oracle • Larry Ellison • NetSuite


Loading...

Premium Articles from HighBeam

Find more articles like this

Today's Most Popular

Loading...

Other Business Stories

What is Newser?

2008 Codie Finalist

Face it: there's too much news. At Newser a team of editors and writers culls the most important stories from hundreds of U.S. and international sources and reduces them to a headline, picture, and two paragraphs. It's the Newser guarantee: we can take any report or column or video and pack what you need to know into 120 words or less. Newser's short-form aggregation, visual format, and unique information tools help you get more of the kind of news you want, in a quicker and more entertaining way. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »