The Next Internet Bubble?
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Code : INB0017
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Region : US
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Introduction:The year 2011 saw a number of entrepreneurs in the internet market engaged in a race for the riches Many prominent startup companies were coming up with stock market listings or were being bought by bigger players in the industry. LinkedIn, a social networking site for professionals, came out with its initial public offering (IPO) on May 9, 2011, on the New York Stock Exchange (NYSE). It expected to raise around $ 274 million and was valued at around $ 3 billion by the exchange. The very next day, that is, on May 10, 2011, Microsoft Corp (Microsoft) announced that it was going to buy Skype for $8.5 billion. Some other firms such as Groupon too were likely to go public soon. There were many web companies globally that were racing to list on American exchanges. Soon after LinkedIn’s listing on the NYSE, Yandex floated its shares on the NYSE. Its price increased by more than 50% on the very first day of trading . These first-day "pops", as bankers call them, raised fears that a new internet bubble was being formed and sparked an unending debate on how best to value IT start-ups |
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