PC Week: VA Linux IPO takes off like a rocket
Dec 10, 1999, 15:40 (0 Talkback[s])
(Other stories by Larry Dignan)
Desktop-as-a-Service Designed for Any Cloud ? Nutanix Frame
"Analysts expected demand for the IPO to be strong, but they
didn't expect a run-up of 800 percent. If the VA Linux gains hold,
it will be the most successful first-day IPO opener. Theglobe.com's
606 percent jump in November 1998 stands as the biggest first-day
gain. Other IPOs this year including Linux player Cobalt Networks
have challenged the record...."
"VA Linux is seen as a leader in its category," said Francis
Gaskins, editor of the Gaskins IPO Desktop. "If you're a leader in
your category the market is paying up...."
"VA Linux will use the IPO proceeds to fund operating
expenses, including broadening its professional services
organization, hiring more research and development staff, and
expanding sales into Europe."