ABSTRACT
There were over 200 Internet stocks in the securities markets in the year 2000 that were launched during the preceding five years. In 1999 alone, there had been well over fifty Internet IPOs. By providing access to the public markets, the IPO is both a channel of new capital to flow to the start-up companies and for the entrepreneurs to reap returns for their labor. It was the Internet IPOs that had fueled the fire of the information technology revolution in the late 1990s.
