Business
Andreessen's Loudcloud ready for IPO
Nearly six years after taking Netscape Communications public at the tender age of 24, high-profile Internet pioneer Marc Andreessen is again preparing to introduce a company to the public market. Loudcloud, which designs, builds, and maintains Web sites for businesses such as Nike, is expected to raise nearly $180 million when it sells 20 million shares for between $8 and $10 to institutional investors late Wednesday.
Nearly six years after taking Netscape Communications public at the tender age of 24, high-profile Internet pioneer Marc Andreessen is again preparing to introduce a company to the public market.
Loudcloud, which designs, builds, and maintains Web sites for businesses such as Nike, is expected to raise nearly $180 million when it sells 20 million shares for between $8 and $10 to institutional investors late Wednesday.
But though Netscape's share sale arguably jump-started an unprecedented five-year boom in tech IPOs, some analysts and investors say Loudcloud is bringing up the rear--and may possibly be too late to Wall Street's party. Story to follow. --Cecily Barnes, Special to ZDNet News