Yep. Michael Lewis’s book The New New Thing is a great little window into that timeframe. He claims Jim Clark really wanted a new boat, so Clark forced the IPO on the board to get some liquidity.
Another major moment marking a ‘new market dynamic’ was Microsoft buying Hotmail in 1997 for roughly $400mm? Pretty much unheard of pricing for a web company.
Another major moment marking a ‘new market dynamic’ was Microsoft buying Hotmail in 1997 for roughly $400mm? Pretty much unheard of pricing for a web company.