The Internet IPO market showed signs of life in July, but both the number of
‘Net ticker debuts and the average first-day performance are well below the
heady days of last fall and winter.
Still, July’s average first-day return of 63% is the best monthly figure for
Internet IPOs since March, and marks the third straight month that
opening-day averages have risen.
There even were moonshots last month, as two companies, ‘Net software
vendors Blue Martini Software
and WebEx, more than doubled in price, while router seller Avici Systemsmore than
tripled.
However, not even Avici’s 212% first-day gain could crack the list of 10
best ‘Net debuts this year, proving again that Internet moonshots aren’t
what they used to be. Indeed, since March, only one ‘Net IPO, Storage Networkson June 30, has made the top 10 list for the year.
INTERLAND, an
Atlanta-based provider of Web services, had no problems establishing its
presence on another IPO list. By closing in its debut last week at 26% below
the $12 per share offer price, ILND zoomed to the top of this year’s list of
biggest first-day ‘Net IPO disasters. Also sneaking onto the flop chart was
Chicago incubator divine
interVentures.
| Month | This year | 1999 |
|---|---|---|
| January | 5 | 4 |
| February | 27 | 11 |
| March | 27 | 13 |
| April | 13 | 17 |
| May | 6 | 26 |
| June | 11 | 32 |
| July | 13 | 35 |
| Total | 102 | 138 |
Average First-Day Return (By Month)
| Month | This Year | 1999 |
|---|---|---|
| January | 160% | 241% |
| February | 126% | 122% |
| March | 99% | 134% |
| April | 31% | 116% |
| May | 38% | 59% |
| June | 41% | 116% |
| July | 63% | 74% |
10 Best Internet Debuts of 2000
| Company | IPO Date | Gain |
|---|---|---|
| webMethods | Feb. 11 | 508% |
| Crayfish | March 8 | 414% |
| Selectica | March 10 | 371% |
| FirePond | Feb. 4 | 356% |
| Neoforma.com | Jan. 24 | 303% |
| Extensity | Jan. 27 | 256% |
| ArrowPoint | March 31 | 248% |
| Storage Networks | June 30 | 234% |
| GigaMedia | Feb. 17 | 226% |
| net.Genesis | Feb. 29 | 216% |
10 Worst Internet Debuts of 2000
| Company | IPO Date | Gain/Loss |
|---|
< /tr>
| INTERLAND | July 25 | -26% |
|---|---|---|
| ARTISTdirect | March 28 | -22% |
| AsiaContent.com | April 12 | -21% |
| coolsavings.com | May 19 | -21% |
| PartsBase.com | March 22 | -12% |
| ImproveNet | March 16 | -12% |
| Hanaro Telecom | March 29 | -9% |
| HealthStream | April 11 | -6% |
| divine interVentures | July 12 | -2% |
| VarsityBooks.com | Feb. 15 | -1% |
Here are the July Internet IPOs, listed by date, with their first-day
performances:
- July 12 divine interVentures (DVIN),
-2% - July 12 Sohu.com (SOHU),
0% - July 13 Network Engines (NENG),
71% - July 13 I-many (IMNY)
, 39% - July 19 Support.com (SPRT)
, 133% - July 21 Corio (CRIO)
, 41% - July 25 INTERLAND (ILND)
, -26% - July 25 Evoke Communications (EVOK)
, 2% - July 25 Blue Martini (BLUE)
, 174% - July 27 Mainspring Communications (MSPR)
, 19% - July 28 WebEx (WEBX)
, 136% - July 28 ValiCert (VLCT)
, 19% - July 28 Avici Systems (AVCI)
, 212%