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NY Times: A Tiny Company With Dim Prospects Goes Public With a Bang

Dec 10, 1999, 15:33 (6 Talkback[s])

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"Internet mania reached new levels of frenzy Thursday as investors paid huge multiples on an initial public offering, giving a market value of almost $10 billion to a tiny company with powerful competitors, little revenue and no expectation of earnings in the foreseeable future."

"The company, VA Linux Systems of Sunnyvale, Calif., sells computers powered by standard Intel Pentium processors that run on Linux, the free Unix-based operating system created by a Finnish graduate student and now marketed by more than a dozen companies worldwide. The computers are designed as servers, computers that deliver Internet products, like Web pages and e-mail, or other network services."

"Though giants like Dell Computer and I.B.M. already market Linux servers of similar power, shares of VA Linux Systems surged more than eightfold today, setting a record for an initial public offering."

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