Has the internet bubble popped already?
Pandora IPO'd at $20, opened at $25, and then slid down to $17.42.
This should be celebrated as a triumph, as Pandora raised the correct amount of cash from its offering (as opposed to LinkedIn, who left a bunch of money on the table).
That said, this may deflate the bubble which is strong in private markets, but needs greater fools in the public market to keep on going. I've met Tim, and I hope he's not too bummed about what happened today.
This should be celebrated as a triumph, as Pandora raised the correct amount of cash from its offering (as opposed to LinkedIn, who left a bunch of money on the table).
That said, this may deflate the bubble which is strong in private markets, but needs greater fools in the public market to keep on going. I've met Tim, and I hope he's not too bummed about what happened today.
Labels: internet
posted by winterspeak at
1:50 PM
3 Comments:
what makes you say that it was a bubble at all?
Very generous valuations in private markets.
Aswath Damodaran over at Musings on Market also spoke about groupon,skype and linkedin and their valuations. You should check out his take on it if you already haven't.
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