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The prospects for initial public offerings are murky at best, but that hasn't stopped a host of tech companies from diving into the market and drowning quickly.Investors are snubbing their noses at questionable companies just days (sometimes minutes) after they start trading.
With AOL Time Warner suggesting in its most recent regulatory filings that more restructuring is in the works, analysts agreed Thursday that layoffs are likely. "Management is pursuing various initiatives to enhance efficiencies," the company said in the typically oblique wording of regulatory filings.
Web services start-up Jamcracker struck a deal with technology giant Unisys on Monday to provide the systems giant with Jamcracker technology for delivering application software to corporations. Terms of the deal were not disclosed.
Marc Andreessen begins his second quest for IPO gold today with the offering of Loudcloud, but it's not going to be easy. Wall Street is a little more skeptical these days and Loudcloud's story has holes big enough to drive a truck through.
The Nasdaq continued its journey south at midday Friday, discarding IPOs and disregarding positive earnings results. The Nasdaq sank 251.
As the tech-heavy Nasdaq enters a bear market, down more than 37 percent from its high, companies are shying away from initial and secondary public offerings.Web consultant Zefer (Nasdaq: ZEFR) announced the postponement of its debut Friday, leaving the IPO slate blank on what is usually the most active day for initial public offerings.
Silicon Valley Bank Chairman John Dean has joined the board of directors of online payments company PayPal, the company said Friday. Dean, also a director or adviser to organizations such as the European Technology Fund, Leapfrog Ventures and Garage.
AssistGuide announced that it raised $900,000 in its first round of funding, which adds to the seed round of nearly $1 million that the company received from angel investors in September 2000. Ron Higgins, the founder, former chairman and CEO of Digital Island, led the round, and Silicon Valley Bank Chairman John Dean also was an investor.
Food site Tavolo.com has raised $36 million in a round of venture capital funding led by Van Wagoner Capital.
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.