When IPOs got their reputation:
It was an unusual IPO because Netscape wasn’t profitable at the time. They priced it at $14/share. Then they doubled it. On the first day of trading the share price doubled again. Within 5 months, Netscape stock was trading at $160/share—completely unprecedented growth for a non-profitable company.
Peter Thiel’s CS183: Startup – Class 2 Notes Essay
http://blakemasters.tumblr.com/post/20582845717/peter-thiels-cs183-startup-class-2-notes-essay