“Fernand Sarrat, CEO of Linuxcare, admits that new financing
raised by the company this week allowed him to dream of escaping
dot-com mania for the beaches of Rio de Janeiro. But it didn’t take
long for him to snap out of it. “We’re not going to Brazil,” Mr.
Sarrat told a group of business partners, journalists, and
Linuxcare employees Tuesday morning….”
“Linuxcare wants to be the ultimate services and support
company for Linux, an open-source operating system that’s gaining
support among computer users and investors alike. Look no
further than VA Linux…for an example of Wall Street’s latest love
affair with the technology sector. The company, which builds
computer systems that run Linux, began trading on Nasdaq last week
at more than ten times its IPO price, the highest first-day jump in
history. Shares closed at $173 7/8 each on Tuesday….”
“Linuxcare set out to raise $25 million, and was offered a total
of $300 million, Mr. Sarrat claimed. A number of Japanese banks
were among those shut out of the round.”