Amazon.com

Shows pre- and post-IPO capitalization structure of Amazon.com in 1997 (Source: Nesheim, 2000. High-Tech Start-Up) || ||
 * [[image:Amazon IPO pricing 1997.jpg]] || == An overpriced public offering? ==
 * In 1997, Amazon's ([|AMZN]) underwriters had raised the offering range prior to IPO, ultimately pricing it at $18 per share.
 * It then "broke" on its fourth day of trading, closing down at $17.12 per share.
 * The following day was even worse, closing at $16.75 per share.
 * Amazon shares closed below their offering price for 5 of its first 13 days of trading and closed below the closing price on its first day of trading ($20.75) for two months (July 6). ||
 * == Saratoga Venture Table for AMZN IPO ==