SFGate interviews Bill Hambrecht, whose firm was an innovator in the auction style approach that Google pursued in its IPO. Google’s quiet period lifted earlier this week. Excerpts:
“That everyone who bid 85 or higher got the shares is a remarkable achievement in a world where hot issues are doled out in a favored way,” (Hambrecht said)….
….Ultimately, though, Google decided on a hybrid offering in which lead investment banks Morgan Stanley and CS First Boston required the largest U.S. investment firms to place their bids through those two banks exclusively.
That led to a process that was “a compromise between the interests of the (lead) bankers and the interests of the company,” Hambrecht said.
“It wasn’t an IPO auction in the purest sense,” he said. “I think it worked almost in spite of itself,” he said….
…Neither Hambrecht nor Corbus would disclose what the clearing price was for the entire auction, citing a confidentiality agreement with Google.
SFGate? I don’t like it when bloggers (or Slashdot readers) refer to news organizations by their domain names vis a vis News.com.com, SFGate, or Newsday.com. It’s just … wrong. ;(
Their publication names are the San Francisco Chronicle, CNET News.com, and New York Newsday. You get the picture.
</nag>
Cheers,
Doug
It’s not that wrong. After all, when you click the sfgate.com link above, the top left corner of the page is clearly branded “SFGate.com”. The actual title of the newspaper is not nearly as prominently displayed.
True enough. I guess you’re right, even though SFGate is sort of the name of the “portal” that houses the San Francisco Chronicle, among other mini-sites.
Sorry,
Doug
I was going to bitch about the same thing Doug is talking about until I saw his eloquent description of Battelle’s error. Did SFGate interview him, as JB says, or did the Chronicle staff writer interview him, as the byline says.
More importantly, what the hell is Hearst’s branding strategy these days?
Hey Guys – In fact I made a conscious decision to say “SFGate.” It’s the online name of the paper, I read the thing online, I never ever ever read the paper, and if that’s what they want to call it, fine with me. Also, a good friend now runs SFGate. So I guess I was giving his site props as well.