From: John Young <jya@pipeline.com>
Date: Thu, 10 Aug 95 06:00:28 PDT
To: cypherpunks@toad.com
Subject: CAC_kle
Message-ID: <199508101300.JAA14840@pipe2.nyc.pipeline.com>
MIME-Version: 1.0
Content-Type: text/plain


   8-10-95. NYPaper Page-Oner:


   "With Internet Cachet, Not Profit, New Stock Is Wall St.'s
   Darling."

      A 15-month-old company that has never made a dime of
      profit had one of the most stunning debuts in Wall
      Street history yesterday as investors rushed to pour
      their money into cyberspace. The Netscape Communications
      Corporation became the latest -- and hottest -- company
      in the Internet business to list shares on the nation's
      stock exchanges. Shares of Netscape, which had been
      priced at $28 before trading began at 11 A.M. opened far
      higher -- at $71. The shares soon surged to as high as
      $74.75. It was the best opening day for a stock in Wall
      Street history for an issue of its size. But even more
      significantly, it was a sign of how the rush to
      commercialize the global computing web known as the
      Internet has created an investor frenzy not seen in the
      technology industry since the early days of the personal
      computer more than a decade ago. "There is a mania under
      way," said Michael Murphy, the editor of The Overpriced
      Stock Service, a newsletter in Half Moon Bay, Calif.

      The company's co-founder and chairman, who holds 9.7
      million shares, ended up holding a stake valued at a
      half-billion dollars. Making his first fortune yesterday
      was Marc L. Andreessen, Netscape's 24-year-old vice
      president of technology and an inventor of its prize
      software. Based on yesterday's closing price, his
      interest in Netscape is worth more than $58 million.


   CAC_kle