Word: ipos
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...another $40 million of his own money into the company, now called Pixar, as it set out to make the first-ever computer-animated feature film. The result was Toy Story, which since its release in November has grossed more than $177 million at the box office. The Pixar IPO, timed to take place just after Toy Story opened, was a huge hit too. The share price more than doubled in the first hour of trading, and Jobs, who owns 80% of the company, was a billion dollars richer. Since then, the price has dropped so that Jobs' holdings...
Jobs makes the point that Pixar, like other IPO overnight successes, was really anything but an overnight success. "The things that I've done in my life have required a lot of years of work before they took off," he says. He and Wozniak started work on Apple in 1975. "So it was really six years of work before we went public. And Pixar has been 10 years...
...simulation games. The company went public last May, and now Braun's stake is valued at about $79 million. To commemorate deals, investment banks make Lucite cubes containing miniature versions of the "tombstone" ads that run in newspapers announcing an offering. Braun holds up his memento of the Maxis IPO and says, "I'm proud of this. This represents the maturing of the company. It says you're an adult now. You can go out in the real world...
...motivation for Bill Schrader either. He's another brand-new IPO multimillionaire--his company, PSINet, went public last May. It claims to operate the largest service devoted to providing Internet access to businesses and individuals. Schrader's life has remained the same--he still works seven days a week, still drinks 20 Diet Cokes a day, still unwinds by throwing a softball around with a colleague, talking about business. He and his wife, he says, "go out to dinner a bit more...
AFTER BARELY TWO YEARS OF EXIStence, NetEdge Systems is ready to cash in big. The fast-growing North Carolina company, which makes devices called edge routers that connect computers to high-speed voice and data networks over telephone lines, plans to launch an initial public offering (ipo) of its stock to raise some $40 million in the second half of this year. NetEdge already has more than 100 employees and revenues of about $25 million and expects to show a profit by the end of 1996. The public offering will finance the firm's expansion; it will also boost...