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Enterprise Software - Thursday, December 20, 2007

NetSuite IPO A Keeper

netsuite.png
NetSuite share holders got their Christmas presents early. The Salesforce.com competitor closed today at $35.50, up $9.50 from the $26 IPO price, which was up from the upwardly revised price range of $16-$19. Today NetSuite is worth $2.1B.

Nobody is celebrating the news more than Larry Ellison who owns about 60% of Netsuite. He says the share will all go to charity.

What does the success of NetSuite tell us? It has to be that Wall Street likes the Software As A Service model and it likes anything that has been blessed by Ellison.

netsuite chart 2.png

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