NetSuite plans initial public offering
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InfoWorld - Hosted business software provider NetSuite hopes to raise $75 million in an initial public offering.
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The Chinese online human resources provider 51job Inc made its debut on the NASDAQ stock market in New York with an initial offering (IPO) price of US$14 per share yesterday, China Daily reported Thursday.
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Privately held NetBooks Inc started  selling a line of computer programs designed to help run small  businesses on Wednesday, taking on QuickBooks provider Intuit  Inc  and NetSuite Inc, which has filed to go public.
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Netezza, a maker of data warehousing appliances, hopes to raise $108 million in an IPO of stock, the company said Thursday.
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Blackstone Group's initial public offering is seeing heavy demand from investors vying for shares of the biggest U.S. IPO in five years, which plans to price on Thursday.
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NetSuite on Wednesday set the initial price of its stock at US$26, greatly exceeding its original estimate.
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US stock exchange operator Nasdaq has formally launched a 2.9 billion-pound hostile takeover bid for the London Stock Exchange, setting shareholders a deadline of January 11 to accept the offer.
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NetSuite on Wednesday set the initial price of its stock at $26, greatly exceeding its original estimate.The company is selling 6.2 million shares of stock. It said in a filing with the U.S. Securities and Exchange Commission that the proceeds from the sale would net it $151.9 million after expenses.NetSuite, which sells a line of hosted business software, company initially set the suggested price range for its stock at $13 to $16, and&#160;subsequently raised it&#160;to $16 to $19 and&#160;then $19 to $22. The stock is now trading on New York Stock Exchange under the symbol &quot;N.&quot; After rising to $39.01, shares had dropped to $25.76 at 10 a.m. Eastern Time.The company set the price by running an&#160;online &quot;Dutch&quot; auction, in the same fashion of search giant Google, instead of having underwriters set the price.Scott Sweet, managing director of IPOboutique.com, a firm that tracks the IPO market and offers investment advice, said NetSuite is greatly overvalued as a result of the auction.&quot;Once again the Dutch auction concept failed to live up to its self-described mantra as being a better conduit in the pricing of an IPO by the investors than the standard method of pricing by the underwriters,&quot; he said in an e-mail message Thursday. &quot;In past Dutch auction deals, and it appears the same in this case, investors put in overzealous high bids to &#39;beat&#39; others in a scramble to get shares. In doing so, it is highly likely that it has greatly diminished the IPO&#39;s performance and highly overvalued the company.&quot;NetSuite has said it plans to use proceeds from its IPO to pay off an $8 million balance on a line of credit with Tako Ventures, an entity controlled by Oracle CEO Larry Ellison, and to possibly make acquisitions.Ellison controls about 60 percent of NetSuite&#39;s outstanding stock -- some 31.9 million shares.NetSuite said Wednesday that Ellison has now completed the transfer of those shares into a holding company, NetSuite Restricted Holdings. The move is meant to &quot;effectively eliminate&quot; Ellison&#39;s voting power and avoid potential conflicts of interests, NetSuite said.
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Faced with strong investor demand, NetSuite has raised its IPO pricing range by 46 percent since setting its initial range earlier this month. The on-demand enterprise applications company anticipates setting its final IPO price after the markets close We
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NetSuite set the initial price of its stock at $26, exceeding its original estimate of $13 to $16 per share.
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San Diego-based government contractor Science Applications International Corp. has set a price range for its initial public offering of between $13 and $15, which would give the company proceeds of about $1 billion, according to documents filed yesterday with the Securities and Exchange Commission.
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Fastclick sets the stage for a 2005 market debut by filing to go public.
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InfoWorld - NetSuite's initial public offering raised $185.4 million, close to double the amount the company originally forecast the IPO would generate and a positive sign for the market of hosted, software-as-a-service business applications.
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The next generation of software players prep for public offerings.
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Carlyle Group , a U.S.  private equity firm, is considering a stock market listing  similar to last week&#39;s initial public offering by rival  Blackstone , Dow Jones Newswires reported on Wednesday.
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(InfoWorld) - NetSuite, the other hosted CRM company, laid out version 2007.0 this week of its CRM, ERP, and PRM (partner relationship management) SaaS (software as a service) solution. The company unveiled NetSuite Assistants, a refinement of its current ERP solution that will make setup, data import, and ERP back-office management simpler, according to the company. Services within the Assistants suite include a setup assistant, a data import assistant, and a graphical transaction form assistant. Matrix Item Assistant will now allow for inventory tracking of multivariant products. NetSuite Global CRM and PRM adds the ability to manage orders, forecasts, quotas, and commissions on a per-country basis in local currency. Also included is a dashboard that can aggregate global information from across an organization into a single, consolidated view. An upgraded analytics capability, SuiteAnalytics, will add scorecards and the ability to include Excel-like customized formulas within a dashboard. As extensive as the additional functionality to the NetSuite suite is, perhaps the most noticeable part of the company's SaaS news was what wasn't announced. Unlike its archrival, Salesforce.com, NetSuite steered clear of discussing an integration platform technology, a programming language capability, or a program to add third-party applications such as Salesforce.com's AppExchange.Â  While NetSuite does have its own integration and customization technology, SuiteFlex, Craig Sullivan, vice president of international products, said NetSuite's strategy is to differentiate itself from competitors by giving companies all their business operations in a single application. "We understand it is important to integrate with other applications, especially when first deploying NetSuite, and we have those capabilities," Sullivan said. SuiteFlex includes a Web services architecture to integrate third-party applications. Sullivan added that users can configure and customize NetSuite through the UI and point-and-click technology rather than being code based. NetSuite 2007 will be rolled out to its current customers from June through August and starts at $499 per month, plus $99 for each user per month.
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NetSuite on Wednesday set the initial price of its stock at $26, greatly exceeding its original estimate.