ipo-buzz

Zach Nelson's Sweet IPO Dream

lock · 12/19/06 03:45PM

LOCKHART STEELE — Why is Zach Nelson smiling? Because he'll soon be able to afford another Bentley or two. Fresh off a glowing Business Week profile, more details leak via TechCrunch about the impending IPO for NetSuite, the business software firm Nelson heads. Today's news: the firm's reportedly going with just Credit Suisse as its banker, which took it on the chin to snag the business. Reports TC, "Our understanding is that the company may have negotiated a lower fee for the IPO than the standard 7%, which is extremey rare." (As previously reported, the IPO hopes to raise about $100 million at a $1b valuation.)