Word: ipos
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President of The Crimson while at Harvard, Meislin currently runs New York Times Digital, the company that operates The Times on the web. Two weeks ago, Arthur Sulzberger Jr., the publisher of The Times, announced that the digital division would file for an initial public offering (IPO) under a separate tracking stock...
...Greed," (thank you, Fox, for telling it like it is). It also goes a long way to explaining the real reason why the stock market performed so atrociously last week. What could possibly more seductive than the prospect of making untold amounts of money from an IPO for a website, something that anyone with a modicum of technological savvy can create and maintain? How many times over the last few years have we heard about how groups of college students--portrayed without fail as greasy, nerdy and severely lacking in fashion sense--became multimillionaires overnight, thanks to somecreativeidea.org...
...with many dotcoms declining, neither venture capitalists nor Wall Street is eager to give them a dime, prompting a flurry of IPO postponements. "You'd be a fool to invest in an e-tailer that sells books today or wants to go into any other well-recognized market," says Michael Moritz, a general partner at Sequoia Capital in Silicon Valley, which launched the popular Internet portal Yahoo. "The large waterfront properties have not only been purchased but developed...
...firm, of course, we're fine. Those jerks down the block may obsess about IPO millions, but here at Keen.com we care only about building a great business by continually improving our products and better serving our customers' needs...O.K., the truth: if you just bet your career on a Web play (as I did, leaving TIME a few weeks ago), the last thing you want to deal with is reality. "Please let the market hold," said a colleague last week with a shaky laugh...
...take solace in, of all things, the long view. Forget the NASDAQ and going public, Karl says. Last year's IPO darling is this year's sinkhole. What matters is our 2003 bottom line, and that means--sing along, kids--building a great business by continually improving our products and better serving our customers' needs...