NetSuite - All Grown Up, Worth Over $1 Billion
Written by on December 19th, 2007 in Ajax News.
So NetSuite’s IPO process is basically complete. They priced the stock today at $26, and barring any major market disruptions the company will begin trading Thursday morning under the symbol “N” on the New York Stock Exchange. A total of 6.2 - 7.1 million shares will be sold, raising the company around $165 million. And if the stock price holds, they’ll be worth well over $1 billion in the public markets.
Rumors first came up that the company was going public a year ago. In July 2007 the company made their first filings with the SEC.
Revenue to date this year is nearly $77 million, with losses of around $20 million.
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Source: TechCrunch
Original Article: http://feeds.feedburner.com/~r/Techcrunch/~3/203144843/