I can remember the old netscape. My first e-mail address was “something @netscape.net.” That brings back some truly old memories of the old internet when I didn’t even have a computer at home. And then I had dial-up. And, well, you may have had similar experiences. Anyway, on this date in history, Netscape, one of the original internet browsers, went public and doubled in value on its first day of trade. Amazing, isn’t it? Originally they were going to offer it to the public for $14 per share, but then at the last-minute, they upped it to $28 per share. On the first day, its value went to $75 per share, and its market value was 2.9 billion! And every quarter that first year, it doubled in value. Following that year, it began to lose value, and once internet explorer came along, that was about the end of netscape.
For more information:
http://famousdaily.com/history/netscape-goes-public.html
http://en.wikipedia.org/wiki/Netscape
http://www.npr.org/templates/story/story.php?storyId=4792365
