Peter Thiel with some context on IPO pricing (Class 2)

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

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