"It's an incredibly bold statement by all parties involved," said David Menlow, president of IPO FinancialNetwork. "There is no hype here. This is a solid company that is profitable, and that is atypical for virtually every other Internet company out there.". Initial offerings by Webcast company Broadcast.com and community builder GeoCities have been among the few bright spots in an otherwise soft IPOmarket this year. Broadcast.com shares more than tripled on thecompany's first day of trading, while GeoCities more than doubled on Day 1.
But the IPO market cooled in the heat of summer, causing some companies to postpone their planned offerings, In fact, the most recent IPO was by BankFirst iphone 8 iridescent compact mirror case on August 27, marking one of the longest droughts since early 1985, according to Securities Data, "Every year at the end of the summer there is a slowdown in IPOs," Fleming said, "It's not like this is out of the ordinary, but it is a longer-than-normal vacation.", Fleming noted that in August, about 70 companies filed plans to go public in September, Now that number is down to only nine..
He said he expects that the planned IPOs of TheGlobe.com,NetGrocer, and eBay competitor uBid will be put off until this fall. Among the companies that got burned with their IPO timing this summer is interactive ad agency 24/7 Media,which went public during the downturn and saw its share price get bruised as a result. "They got caught in the squall of the market," said Ken Fleming, an analyst at Renaissance Capital's IPO Fund. Other recent IPOs by Cyberian Outpost, Pilot Network Services, Terayon Communication Systems, and Digital River also were lukewarm.
News.com's Dawn Kawamoto contributed to this report, The online auctioneer hikes up the price of its pending offering, iphone 8 iridescent compact mirror case demonstrating strong demand for its shares despite recent market volatility, Online auctioneer eBay today priced its pending initial public offering at $18 a share, demonstrating strong demand for its shares despite recent volatility in the markets, The IPO market, which has gone without a single deal during the past month, will be closely watching eBay's performance when it begins trading tomorrow on the Nasdaq Composite Index under the ticker symbol "EBAY."..
Most significantly, if a child is under 13 years old, the legislation says the site will first have to get a parent's OK before collecting the sensitive information. The bill calls for the FTC to crack down on violators. It's no surprise that FTC chairman Robert Pitofsky endorsed the legislation during the hearing. "The enactment of legislation such as [the Children's Online Privacy Protection Act] would provide uniform privacy protections that should protect children online and provide parents and their children with greater confidence in using the Internet," Pitofsky stated in his prepared testimony.
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