Netsuite, in which Oracle’s Larry Ellison owns 61.1% and controls 74.1%, is about to IPO. The company”
“offers Web-based services that let small and medium-size companies handle tasks such as accounting and keeping track of customers.”
It’s basically SAP/Peoplesoft/Seibel/Oracle for small and medium sized businesses with less than 1000 employees. and it is, like Xero, SAAS (delivered via the internet). It does kinda compete with Oracle, making for some interesting ethical questions.
They are expected to raise $75m for 10% of the shares – which is of course a $750m valuation. Of course Netsuite has actual revenue about $67m to be exact, though they managed to lose an impressive $23m last year.
Do click on that ‘Raise’ link above. It links to the IPO document that is hosted by the SEC. The Xero and BurgerFuel offerings are, well, pathetic in comparison. Yes the sec form is wieldy and repetitive, but there is a lot of information there.
I won’t be buying. yet.