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CNET News.com: E*trade foils Red Hat IPO goodwill

Jul 29, 1999, 14:16 (3 Talkback[s])
(Other stories by Stephen Shankland)

"A gesture of goodwill on the part of software maker Red Hat has generated some ill will with the very people the company hoped to reward."

"Linux seller Red Hat had offered several open source programmers the opportunity to participate in the initial public offering of the company's stock, which likely will take place in the next two weeks. However, at least a dozen people who were invited to participate have informed Slashdot founder Rob Malda that they've been rejected by E*trade, the electronic trading company helping with the IPO."

"It seems all that glitters is not gold in the high tech industry, even though stories of financial windfall are legion amid the scene of so many companies rushing to go public. The price of a hot new issue often jumps markedly, and those who were invited in during the early stages can make a big profit."

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