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Enterprise Software - Tuesday, December 19, 2006

NetSuite To File $100M IPO

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Salesforce.com competitor NetSuite is planning an IPO to raise about $100M at a $1B valuation, says TechCrunch.
We have posted on this before but repeat our position that it is unseamly that NetSuite backer Larry Ellison will benefit so much from his investment in a company that competes with his own company. Ellison is likely to own over 50% of the stock.

Businessweek says that Netsuite had 2006 revenues of about $70M. NetSuite has raised over $100M to date, so it has clearly payed a steep price for its revenues.

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