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Breaking News: Lindows Abandons Plans to IPO by Auction, à la Google

Breaking News: Lindows Abandons Plans to IPO by Auction, à la Google
By Maureen O'Gara
Article Rating:
July 30, 2004 12:00 AM EDT
Reads:
 16,179

Lindows has dumped its plans to IPO by auction a la Google. It was supposed to go out using the auction process pioneered by West Coast VC WR Hambrecht and we assumed that that was still the plan when we wrote last week that Lindows had priced its stock at between $9 and $11.

Au contraire.

Lindows VP of marketing Kevin La Rue wrote to say that WR Hambrecht was no longer in the picture and that the auction idea has been jettisoned. La Rue won't say why. The Lindows IPO will proceed down the conventional route.

Published July 30, 2004 – Reads 16,179
Copyright © 2004 SYS-CON Media, Inc. — All Rights Reserved.
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Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara

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Most Recent Comments
Hans 07/30/04 05:14:55 PM EDT

This is hardly breaking news. Lindows disclosed this about a month ago when they filed their first ammendment to their S-1.

Changing banks during the IPO process is pretty standard stuff.

Hans
Baby Fishmouth 07/30/04 12:59:12 PM EDT

"Abandoned", "scheme", "dumped", "won't say why"? This make it sounds like something horribly nefarious is going on.

It looks like they simply decided to not use a controversial and very speculative method for going public and have instead chosen to use a safer, more conventional route. Only a few companies have used the new and relatively unproven Open IPO process, and the results have been mixed. The jury's still out whether or not the Open IPO is even a good idea for Google.

As to why they "won't say why", they're probably in their quiet period, as anyone who knew anything at all about IPOs would know.