NetSuite IPO Seeks to Raise $99 Million

NetSuite (N) said Wednesday that it plans to sell 6.2 million shares at $13 to $16 a share in its IPO.

Data Center Knowledge

December 6, 2007

1 Min Read
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NetSuite (N) said Wednesday that it plans to sell 6.2 million shares at $13 to $16 a share in its initial public offering, which could raise $99 million and give the software as a service (SaaS) provider a market value of about $950 million. The company said overallotments could result in the sale of 565,000 additional shares by the company and 365,000 by existing holders.

Oracle CEO Larry Ellison is the majority owner of NetSuite, has 5,300 customers and $67 million in 2006 revenues, but has a year-to-date loss of $20.6 million. The company's data center operations came under scrutiny earlier this year when NetSuite revealed in an SEC filing that it didn't have a backup data center, even though its primary data center is in an earthquake zone.

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Data Center Knowledge, a sister site to ITPro Today, is a leading online source of daily news and analysis about the data center industry. Areas of coverage include power and cooling technology, processor and server architecture, networks, storage, the colocation industry, data center company stocks, cloud, the modern hyper-scale data center space, edge computing, infrastructure for machine learning, and virtual and augmented reality. Each month, hundreds of thousands of data center professionals (C-level, business, IT and facilities decision-makers) turn to DCK to help them develop data center strategies and/or design, build and manage world-class data centers. These buyers and decision-makers rely on DCK as a trusted source of breaking news and expertise on these specialized facilities.

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