Much of the IT media watched with interest last week as SaaS based ERP provider NetSuite went forth with its initial public offering. The IPO had been long awaited and was the subject of much anticipation by media analysts.
The IPO did well, as expected. The San Jose Mercury News reported that the EPO made a great deal of money for Larry Ellison, a major backer of the project. The initial price per share had been doubled in the days leading up to the offering, and this stoked excitement even further.
San Jose Business Journal reported that the price bounced around a bit on the first day of trading, starting at $26 and going down to $23.86 before bouncing up to $35.
Ann All of IT Business Edge pointed out that the IPO showed increasing acceptance of the SaaS Model for ERP. She points out that the IPO bodes well for other companies trying to enter the market and also pointed out the implication that NetSuite marketed itself more similarly to traditional software companies than SaaS providers.
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