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NETSCAPE’s IPOHOW IS IT POSSIBLE TO OBTAIN A VALUE OF MORE THAN 1 BILLION,WHEN THE BOOK VALUE IS $16 MILLION AND THE COMPANY HAD YET TO TURN A PROFIT?More specifically, at
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NETSCAPE's IPO HOW IS IT POSSIBLE TO OBTAIN A VALUE OF MORE THAN 1 BILLION, WHEN THE BOOK VALUE IS $16 MILLION AND THE COMPANY HAD YET TO TURN A PROFIT? More specifically, at what rate does the company have to grow over the next 10 years to justify an offer price of $28? Furthermore, and how much capital is initially needed to sustain this growth rate. ABSTRACT: Netscape Communications Corporation was one of the first companies to make the features of Internet easy accessible for old and new customers. The company developed user-friendly software. In the 1990's there was enormous developments of the "IT"-industry, a knowledge based industry. New "dot.com" companies were introduced at an accelerating speed. In these companies the most important asset is human capital. All goods sold are dependent on the way they improve or ease the work of the customers. All such companies are priced on expectations. Investors had...
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