Word: ipos
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...other hand, successful new companies are a welcome source of jobs, and the point of an IPO is usually to help a firm carry out a business expansion. "All you have to do is talk to people in Silicon Valley," says Ritter, who points out that "almost all of the firms that got started there in the past 10 to 15 years" were founded by people from behemoths such as Xerox or Hewlett-Packard...
...Perkins Caulfied & Byers, a Menlo Park venture-capital firm that has helped finance dozens of new companies, including Netscape and Pixar. Doerr says Kleiner Perkins clients have created 150,000 new jobs in the past five years alone and have reinforced America's technological edge. "Some people refer to [IPOs] as a game," Doerr says. "But the notion that an entrepreneur can have a big idea and gain financial independence for his family is at the very heart of the American system of fair play." Echoing that sentiment is Dan Case, chairman of Hambrecht & Quist, a San Francisco venture-capital...
...this year, has got some $15 million from venture capitalists since 1991. "They've been essential in helping us attract the right management and giving us the credibility we need," says Silicon Video president Robert Duboc. "And they will be critical in helping us get ready for the IPO...
...successful IPO can hit the jackpot not only for the start-up but for venture capitalists as well. Doerr and his Kleiner Perkins partners invested nearly $5 million in Netscape before it went public in return for stock now worth some $590 million. Some venture capitalists have even launched their own high-tech companies to ensure getting in on the gold rush. Kleiner Perkins joined forces with cable-TV giant TeleCommunications last year to create a firm called @Home; it plans to bring the Internet and its World Wide Web--along with programs like local news shows--to home computers...
...NetEdge founder Bender prepares to take his company public, he disavows any interest in the complicated stock-market gymnastics that lead to instant wealth. "An IPO is not an end in itself," he declares. "It's a vehicle to finance growth, not to make investors rich. That happens too, but it shouldn't be the goal." The real aim, Bender says, is to help founders build their companies, "something out of nothing, like an artist painting on a canvas." Perhaps so. But the public has its own ideas about the difference between art and commerce...