We hear there's some kind of party happening tonight at the Pacific Heights mansionette of Larry Ellison, Oracle's multibillionaire CEO. He's not in town, so it should really be a rager. The occasion: The 10th anniversary of NetSuite's founding. Our invite was lost in the mail, but we're glad to hear Ellison's still doing his part for the local economy — especially considering how he just lost $6.6 billion in the stock market — more than any other tech CEO, according to the Wall Street Journal.

Sean Parker has had a hand in some of the Valley's biggest successes. His first company, Napster, took the world by storm, but didn't make Parker rich. His second, Plaxo, just sold to Comcast. And his third, Facebook — well, say no more. Except for the bit about him getting kicked out, according to Mark Zuckerberg's legal testimony, for a cocaine arrest. (Parker characterized the incident as "a misunderstanding.") That and more is covered in the 21 pages Sarah Lacy devotes to Parker in Once You're Lucky, Twice You're Good, new book about Web 2.0. The index page where Parker is listed:

In this Tech Ticker segment, correspondent Sarah Lacy laughs and smiles and pitches softball questions — "Salesforce.com is going to become Siebel, and you're going to become SAP?" (Siebel was swallowed up by Oracle, while SAP is Oracle's chief rival.) The flattery is effective: Lacy lets NetSuite CEO Zach Nelson talk, and talk, and talk. He spins a tale of how his company is poised for greatness; Salesforce.com, for obscurity. And then the financials pop up on screen: Salesforce.com is profitable, unlike NetSuite, and has nearly five times NetSuite's annual revenues. A ruthless evisceration. Nelson didn't even know he was being filleted. The full video:

Larry Ellison's likely too busy counting all the money he made today to ask this question, but we will: Why did NetSuite's shares rocket upwards in the final hours of trading today? The company went public with a Dutch auction, a process meant to get the best and fairest price for the company shares. This morning, it seemed like it had gone off flawlessly: The stock opened at $26, the auction-set price, and traded near there all morning. Then it suddenly raced upwards to close at $35.50, making the whole company worth $2.1 billion, and Ellison's stake $1.3 billion.

The SEC's website is the new location of the New York Times' corrections page. NetSuite stock is up 12 percent today after its $26-a-share IPO debut, a long-awaited victory for the Larry Ellison-backed software company, as the Times noted earlier this week. But it appears that the paper got several things wrong.

NetSuite, the online business-software company based in San Mateo, has priced its IPO, selling 6.2 million shares at $26 a share to raise $161 million. Its first trading day may not see a big pop, however, as the company has warned: Its auction-based offering sets the price, in theory, at what the market will bear. Conventional IPOs are typically underpriced, allowing for more of a rise. NetSuite has already seen a boost: Expectations were for an IPO in the $16 to $19 range. [Reuters]

Web software provider NetSuite's IPO, set for this Friday, should be one of the last of 2007. Despite losing $20.6 million on $76.8 million in revenues — wait, isn't Web software supposed to be more profitable than desktop software? — expectations are running high. Get-rich-quick artists may be disappointed.

In every startup's life, before it can go public, there's a ritual called the roadshow. NetSuite, an online-software company backed by Larry Ellison, may begin its run as soon as Thursday, having filed an updated prospectus with the SEC detailing its plans to issue shares to the public. The total: As much as $99 million from the sale of 6.2 million shares. One unlikely buyer has already put his money in: Salesforce.com board member Craig Ramsey, who bought $3.5 million from company CEO Zach Nelson and founder Evan Goldberg. Silicon Alley Insider reports that Ramsey's son works at NetSuite, but the purchase is still curious. Also playing the field: Oracle CEO Larry Ellison, who put money into Goldberg's NetSuite and Benioff's Salesforce.com.

These days, a startup raising $1.5 million hardly seems noteworthy, so I was inclined to dismiss the news that Curbed Network, a New York-based blog franchise, had brought in that modest amount. This despite the fact that Lockhart Steele, Curbed's cofounder, is a friend and helped recruit me to Valleywag when he worked at Gawker Media, and Nick Denton, Valleywag's owner, is one of the investors in this round. No, I was more intrigued by the name of another investor: Zach Nelson, the Larry Ellison protégé who's CEO of NetSuite, the Web-based software company which has filed to go public. How could these two have possibly connected? A quick reading of the social graph revealed only one candidate: Brooke Hammerling, the hyperconnected founder of Brew PR and Valleywag's original Snacky Flack. The coast-swapping Hammerling says her career as a yentapreneur began when she invited Steele, a baseball fan, to an Oakland A's event hosted by Nelson. Hope you got a cut, Brooke.

The IPO market is unquestionably back. Having tapped the market for financial companies to take public, Wall Street is now turning, yet again, to Silicon Valley for IPO candidates. The latest one: NetSuite, Larry Ellison's pet Web-based software company. NetSuite's premise is simple and appealing: Cheap, Web-based alternatives to software from Oracle and SAP to run small businesses's finances and operations. But NetSuite's S-1 filing, the obligatory prospectus companies must file before they sell shares to the public, is anything but simple and appealing. After the jump, the most disturbing bits, and plain-English translations.

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.)

Zach Nelson doesn't hide his hero worship, does he? The Netsuite CEO pulls off the kingly pose of his company's founder, the CEO of Oracle, just right. And a reader says Zach's riding dad's wheels too:

It's like Christmas and Boat Porn Day rolled into one: the SF Chron's Technology Chronicles splatters a whole gallery of photos from Larry Ellison's emergency backup yacht. Last night Netsuite (Larry Ellison's Salesforce.com killer) threw a yacht party — to generally celebrate being rich — on the richly furnished boat.