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1998 Initial Public Offering: Noted to be an IPOmania for Internet-based Companies
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The year 1998 is just a common year on the Gregorian calendar aside from being the year of the Gemini or the Twins. However, there are various significant events happened during this year.
In this year of January 6 when the Lunar Prospector (a mission selected by the National Aeronautics and Space Administration for full construction and development as part of the Discovery Program and designed for low polar orbit investigation on the moon) spacecraft was launched into the Moon’s orbit, and later on found out that there are evidences of frozen water in the Moon’s poles. It was also this year of January 8 when Ramzi Yousef, the prime suspect in World Trade Center bombing was sentenced to life imprisonment. It was also the same year of February when the U.S. Senate passed Resolution 71 which urged then U.S. President Bill Clinton to take all necessary actions in response to the threat posed by Iraq’s refusal to end its WMDP (weapons of mass destruction program).
And who would ever forget the discovery of the White House scandal wherein then U.S. President Bill Clinton have discreet relationship with former White House intern Monica Lewinsky that has captured the attention of the international community? The year 1998 is full of events that everybody would not forget.
And it is also the year when various Internet companies go IPOmania!
The Internet technology had its growth in 1998, both in terms of usage and sophistication of the features it offered to the public. It brought out promises to the general public that it would change the way they lived. In the same manner, it also brought a promise to the business community that it would change the way investors would conduct business and could generate huge profits.
And it became true. Google, Inc., which is the largest search engine company on the Internet, launched its first search services in 1998. It is also the same year when online auctioneer eBay went public in September 1998.
Initial public offering (IPO) in 1998 was noted to be one of the most remarkable performances of the IPO market. According to the statistics of the U.S. Securities and Exchange Commission (SEC), there are about 370 IPO registrants in this year and it generated total revenues of $44.8 billion, making it one of the remarkable years in the IPO market. Out of this number of IPO registrants, 25 are Internet-based companies. Some of them are as follows:
• 24/7 Media- when it went public in August 14, 1998, its initial IPO price is $14 per common share. After its closing, per common share’s value increased to $25.88 or a change of 84.82 percent.
• Broadcast.com- when it went public on July 17, 1998, its initial IPO price is $18 per common share. After its closing, per common share’s value increased to $71 or a change of 294.44 percent.
• Broadcom- when it went public in April 17, 1998, its initial IPO price is $24 per common share. After its closing, per common share’s value increased to $112 or a change of 366.67 percent.
• eBay- when it went public in September 24, 1998, its initial IPO price is $18 per common share. After its closing, per common share’s value increased to $252.25 or a change of 1,301.39 percent.
• Geocities- when it went public in August 11, 1998, its initial IPO price is $17 per common share. After its closing, per common share’s value increased to $37.88 or a change of 122.79 percent.
What else can you say? The year 1998 is noted to be an IPOmania for Internet-based companies. Huge revenues and successful business operation-- that is how initial public offering works for a company.
Initial Public Stock Offering Specific links
Initial Public Stock Offering News
Facebook IPO: Who is selling stock? - CBS News
 Telegraph.co.uk | Facebook IPO: Who is selling stock? CBS News Facebook Inc. sold 180 million of its shares in its initial public stock offering. Another 241.2 million came from existing stockholders, including the company's earliest investors and CEO Mark Zuckerberg. Even after the IPO, Zuckerberg remains ... Facebook IPO falls flat in public debut Why you shouldn't buy Facebook stock today |
Facebook Dashes Faith - Wall Street Journal
 New York Daily News | Facebook Dashes Faith Wall Street Journal By AL LEWIS When some people predicted Facebook stock would rocket up 50% on its initial public offering on Friday, I did not laugh. I had faith that the Facebook storyline would overcome: A greedy move by investment bankers to jack up its offering ... Facebook Stalls in Public Debut After Record $16 Billion IPO The Facebook Puzzle Facebook Gold Rush: Fanfare vs. Realities |
Status update: Facebook's Mark Zuckerberg gets married - Reuters
 Sydney Morning Herald | Status update: Facebook's Mark Zuckerberg gets married Reuters The 28-year-old billionaire's wedding took place a day after Facebook's initial public offering on the Nasdaq stock exchange on Friday. More than 280000 people "liked" Zuckerberg's status change, which was accompanied by a photo of the smiling couple ... What To Expect In Facebook's Future Zuckerberg's other initial public offering: he just got married |
Intelsat Global files for $1.75 billion IPO - Reuters
 BusinessTech | Intelsat Global files for $1.75 billion IPO Reuters By Sharanya Hrishikesh (Reuters) - Intelsat Global Holdings SA, the world's biggest operator of satellite services, filed with US regulators on Friday to raise up to $1.75 billion in an initial public offering of its common stock. Intelsat files plans for public offering Intelsat Files Plans For IPO Of Up To $1.75 Bln Intelsat files plans for $1.75b IPO |
Facebook Banker Morgan Stanley Props Up Price It Helped Boost - Bloomberg
 The Guardian | Facebook Banker Morgan Stanley Props Up Price It Helped Boost Bloomberg Morgan Stanley (MS)'s reputation as lead underwriter may suffer from the stock market debut of Facebook Inc., whose initial public offering left investors in the largest social network disappointed. The bank stepped in to prop up the stock from dipping ... Morgan Stanley made big bet on Facebook Facebook IPO reaps huge rewards for founders as buyers watch and wait Facebook Underwriters to Split $176 Million in IPO Fees |