Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Tuesday, December 18, 2007

Accounting Software Provider Goes Public

The total number of IPOs is up 25% from last year, and many of them are technology companies.  NetSuite, an on-demand accounting software provider, plans a Dutch auction IPO later this week.  What is interesting is that NetSuite's largest financial backer, and largest shareholder, is Oracle's Larry Ellison, and the IPO proceeds will be used to pay down the company's line of credit owed to one of his affiliates.  Ellison says that he will place his shares in a "lock box" LLC to avoid conflicts of interest.  NYTimes, Going Public Caps Dream for a Maker of Software.

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