{"id":18911,"date":"2014-05-16T15:59:33","date_gmt":"2014-05-16T07:59:33","guid":{"rendered":"http:\/\/buzzorange.com\/citiorange\/2014\/05\/16\/tech-ipos-went-from-frenzy-to-fizzle-in-about-a-month\/"},"modified":"2014-05-16T15:59:33","modified_gmt":"2014-05-16T07:59:33","slug":"tech-ipos-went-from-frenzy-to-fizzle-in-about-a-month","status":"publish","type":"post","link":"https:\/\/buzzorange.com\/citiorange\/2014\/05\/16\/tech-ipos-went-from-frenzy-to-fizzle-in-about-a-month\/","title":{"rendered":"\u7576\u79d1\u6280\u80a1 IPO \u71b1\u6f6e\u9000\u53bb\uff0c\u6295\u8cc7\u5e02\u5834\u624d\u662f\u771f\u6b63\u7684\u300c\u5f8c\u6bcd\u9762\u300d\uff01"},"content":{"rendered":"<p><a href=\"\/\/qzprod.files.wordpress.com\/2014\/05\/rtr3iocu.jpg?w=1024&amp;h=694\"><img loading=\"lazy\" class=\"aligncenter\" src=\"\/\/qzprod.files.wordpress.com\/2014\/05\/rtr3iocu.jpg?w=1024&amp;h=694\" alt=\"\" width=\"1024\" height=\"695\" \/><\/a><br \/>\n\u624d\u4e0d\u904e\u5e7e\u500b\u79ae\u62dc\u4ee5\u524d\uff0c\u5927\u5bb6\u9084\u5728\u71b1\u70c8\u7684\u8a0e\u8ad6\u96f2\u7aef\u5167\u5bb9\u670d\u52d9\u5e73\u53f0 Box \u53ef\u80fd\u8981\u99ac\u4e0a\u8981 IPO \u7684\u6d88\u606f\u3002\u6c92\u60f3\u5230\u5e7e\u9031\u5f8c\uff0c\u5e02\u5834\u5c0d\u79d1\u6280\u516c\u53f8\u7684 IPO \u71b1\u6f6e\u9000\u53bb\uff0cBox \u7684 IPO \u8a08\u756b\u4e5f\u53ea\u5f97\u7dca\u6025\u558a\u5361\u3002\u53ea\u80fd\u8aaa\uff0c\u6295\u8cc7\u5e02\u5834\u624d\u662f\u771f\u7684\u7ffb\u81c9\u6bd4\u7ffb\u66f8\u9084\u8981\u5feb\u3002<\/p>\n<p>\u5728\u4eca\u5e74\u7684\u524d\u5169\u500b\u6708\uff0c\u8da8\u52e2\u79d1\u6280\u80a1\u7968\u7c21\u76f4\u9805\u760b\u4e86\u4e00\u6a23\u4e0d\u65b7\u5f80\u4e0a\u98c6\u3002Tesla \u5230\u4e8c\u6708\u5e95\u4e0a\u6f32\u4e86 62%\uff1bPandora \u6f32\u4e86 41%\uff1bFacebook \u548c Netflix \u7684\u7372\u5229\u7387\u90fd\u7a69\u5750 20%\u3002\u5927\u6279\u7684\u77fd\u8c37\u985e\u65b0\u5275\u516c\u53f8\uff0c\u6709\u4e9b\u751a\u81f3\u9023 Business model \u90fd\u9084\u4e0d\u6e05\u4e0d\u695a\u7684\uff0c\u5c31\u90fd\u5728\u6436\u8457\u6392\u968a IPO\u3002<\/p>\n<p>\u5feb\u8f49\u5230\u4eca\u5929\uff0cNetflix \u548c Pandora \u7684\u5e74\u5ea6\u8ca1\u5831\u90fd\u5448\u73fe\u8d64\u5b57\uff1bFacebook \u548c Tesla \u7684\u7372\u5229\u4e5f\u5927\u5e45\u4e0b\u964d\uff1b\u800c\u5728 2013 \u5e74\u4e0a\u5e02\u6642\u88ab\u8996\u70ba\u65b0\u4e00\u6ce2\u79d1\u6280\u516c\u53f8\u4ee3\u8868\u7684 Twitter \u4e5f\u4e0b\u964d\u4e86\u8fd1 40%\u3002<\/p>\n<ul>\n<li><span style=\"color: #800000;\"><strong>\u80a1\u5e02\u4e0d\u632f\u5f71\u97ff\u5230\u79d1\u6280\u516c\u53f8\u7684 IPO \u5e02\u5834<\/strong><\/span><\/li>\n<\/ul>\n<p>\u9664\u6b64\u4e4b\u5916\uff0c\u60c5\u5831\u4e5f\u986f\u793a\uff0c\u80a1\u7968\u5e02\u5834\u7684\u4e0d\u632f\u4e5f\u5f71\u97ff\u5230\u4e86\u79d1\u6280\u516c\u53f8\u7684 IPO \u5e02\u5834\u3002\u5728\u56db\u6708\u4e2d\u4ee5\u524d\uff0c\u5df2\u7d93\u6709\u4e86\u50f9\u503c\u8fd1 $40 \u5104\u7f8e\u5143\u7684 IPO \u6848\uff0c\u5927\u7d04\u662f 2013 \u5e74\u7684\u6574\u5e74 IPO \u6848\u7684 45%\u3002\u4f46\u5728\u56db\u6708\u7684\u6700\u5f8c\u5169\u9031\uff0c\u9023\u4e00\u500b\u516c\u53f8\u6253\u7b97\u8981 IPO \u7684\u6d88\u606f\u90fd\u807d\u4e0d\u5230\u3002\u6709\u9451\u65bc\u5e02\u5834\u72c0\u6cc1\uff0cBox \u5c07\u628a IPO \u8a08\u756b\u5ef6\u5f8c\u5230 5 \u6708 26 \u65e5\u7f8e\u570b\u9663\u4ea1\u5c07\u58eb\u7d00\u5ff5\u65e5\u5f8c\uff0c\u6216\u751a\u81f3\u66f4\u665a\u3002<\/p>\n<ul>\n<li><span style=\"color: #800000;\"><strong>\u6295\u8cc7\u8f49\u800c\u95dc\u6ce8\u66f4\u57fa\u790e\u7684\u4f01\u696d<\/strong><\/span><\/li>\n<\/ul>\n<p>Box 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\u5104\u7f8e\u5143\u90a3\u9ebc\u9ad8\uff0c\u53ef\u80fd\u8981\u5c11\u500b 8% \u5de6\u53f3\u3002<\/p>\n<p>\u300c\u5f9e\u4f30\u503c\u89c0\u9ede\u4f86\u770b\uff0c\u90a3\u662f\u6709\u4e00\u9ede\u760b\u72c2\u3002\u6bd4\u8d77\u5e7e\u500b\u6708\u4ee5\u524d\uff0c\u73fe\u5728\u5e02\u5834\u662f\u6709\u6bd4\u8f03\u5c08\u6ce8\u65bc\u4f01\u696d\u7684\u696d\u52d9\u57fa\u790e\u4e0a\uff0c\u300d\u5728\u5de8\u578b\u5171\u540c\u57fa\u91d1 Fidelity \u4efb\u8077\u5168\u7403\u6b0a\u76ca\u8cc7\u672c\u5e02\u5834\u4e3b\u7ba1\u7684 Andrew Boyd \u9019\u9ebc\u8aaa\u3002\u81f3\u65bc\u662f\u4ec0\u9ebc\u56e0\u7d20\u6539\u8b8a\u4e86\u6295\u8cc7\u4eba\u7684\u5fc3\u60c5\u76ee\u524d\u9084\u4e0d\u662f\u5f88\u660e\u6717\u3002<\/p>\n<p>\u4f46\u662f\u5f9e\u4eca\u5e74\u4e09\u6708\u7a0d\u65e9\uff0c\u6295\u8cc7\u5e02\u5834\u5c0d\u79d1\u6280\u80a1\u660e\u986f\u7684\u51b7\u6de1\u4e0b\u4f86\uff0c\u800c IPO \u4e5f\u958b\u59cb\u7ad9\u4e0d\u4f4f\u8173\u3002\u8a2d\u8a08\u51fa\u7206\u7d05\u904a\u6232 Candy Crush \u7684 King Digital Entertainment \u5728\u4e0a\u5e02\u7684\u7b2c\u4e00\u5929\u5c31\u773c\u775c\u775c\u7684\u770b\u8457\u4ed6\u7684\u80a1\u7968\u4e0b\u8dcc\u4e86 16%\u3002<strong>\u9019\u662f\u4eca\u5e74\u7684\u7f8e\u570b IPO \u8868\u73fe\u5f97\u6700\u6158\u70c8\u7684\u4e00\u6b21\u3002<\/strong>\u800c\u4e2d\u570b\u7684\u5fae\u535a\u5728 IPO \u6642\u4e5f\u88ab\u8feb\u964d\u4f4e\u6bcf\u80a1\u5b9a\u50f9\u4ee5\u722d\u53d6\u6295\u8cc7\u4eba\u4f86\u8a8d\u8cfc\u5176\u80a1\u7968\u3002<\/p>\n<p>\u5fae\u535a\u5728\u4ed6\u7684 $17-19 \u7f8e\u5143\u5408\u7406\u5b9a\u50f9\u7bc4\u570d\u4e2d\u9078\u64c7\u4e86\u5b9a\u5728 $17 \u7f8e\u5143\uff0c\u4e5f\u5c31\u662f\u6700\u4f4e\u9ede\uff0c\u800c\u4ed6\u5011\u6240\u8ce3\u51fa\u7684\u80a1\u7968\u4e5f\u6bd4\u9810\u671f\u7684\u66f4\u5c11\u3002\u5176\u4ed6\u8fd1\u671f\u5167\u7684 IPO \u4e5f\u9762\u81e8\u4e86\u6158\u6fb9\u7684\u666f\u6cc1\uff0c\u4e0b\u9762\u9019\u5f35\u4f86\u81ea Renaissance Capital \u7684\u6578\u64da\u5716\u8868\u628a\u9019\u500b\u72c0\u6cc1\u986f\u9732\u7121\u907a\u3002<\/p>\n<p>\u7070\u8272\u8868\u793a\u5b9a\u50f9\u9ad8\u65bc\u767c\u884c\u8005\u63a5\u53d7\u50f9\u683c\u7bc4\u570d\uff1b\u6dfa\u7c89\u7d05\u8868\u793a\u5b9a\u50f9\u5728\u767c\u884c\u8005\u63a5\u53d7\u50f9\u683c\u7bc4\u570d\u5167\uff1b\u6843\u7d05\u8868\u793a\u5b9a\u50f9\u4f4e\u65bc\u767c\u884c\u8005\u63a5\u53d7\u50f9\u683c\u7bc4\u570d\u3002\u53ef\u4ee5\u770b\u51fa\uff0c\u76f8\u8f03\u65bc\u53bb\u5e74\uff0c2014 \u5e74\u5230\u76ee\u524d\u70ba\u6b62\uff0c\u6709\u66f4\u591a\u4f01\u696d\u5728\u4e0a\u5e02\u6642\u88ab\u8feb\u5b9a\u50f9\u5728\u4f4e\u65bc\u767c\u884c\u8005\u9858\u610f\u63a5\u53d7\u7684\u7bc4\u570d\u5167\u3002<\/p>\n<p><a href=\"\/\/qzprod.files.wordpress.com\/2014\/05\/where-ipos-have-been-pricing-within-their-issuer-s-price-range-above-price-range-within-price-range-below-price-range_chartbuilder.png?w=1024&amp;h=576\"><img loading=\"lazy\" class=\"aligncenter\" src=\"\/\/qzprod.files.wordpress.com\/2014\/05\/where-ipos-have-been-pricing-within-their-issuer-s-price-range-above-price-range-within-price-range-below-price-range_chartbuilder.png?w=1024&amp;h=576\" alt=\"\" width=\"1024\" height=\"577\" \/><\/a><\/p>\n<ul>\n<li><strong><span style=\"color: #800000;\">\u7f8e\u570b\u7d93\u6fdf\u4e0d\u78ba\u5b9a\uff0c\u8b93 IPO \u5e02\u5834\u50cf\u500b\u8584\u60c5\u90ce<\/span><\/strong><\/li>\n<\/ul>\n<p>\u300cIPO \u5e02\u5834\u5c31\u50cf\u662f\u500b\u8584\u60c5\u90ce\u300d\uff0cConvergEx Group \u7684\u9996\u5e2d\u5e02\u5834\u7b56\u7565\u5e2b Nicholas Colas \u8aaa\u3002\u4ed6\u8a8d\u70ba\u7f8e\u570b\u7d93\u6fdf\u672a\u4f86\u65b9\u5411\u7684\u4e0d\u78ba\u5b9a\u6027\u53ef\u80fd\u662f\u5c0e\u81f4\u6295\u8cc7\u4eba\u80c3\u53e3\u8b8a\u52d5\u7684\u4e00\u500b\u539f\u56e0\u3002<\/p>\n<p>\u9019\u4e9b\u5c0d\u7d93\u6fdf\u7684\u7591\u616e\u751a\u81f3\u4e5f\u5f71\u97ff\u5230\u4e86\u90a3\u4e9b\u77e5\u540d\u7684\u79d1\u6280\u516c\u53f8\u5982 Amazon\u3001Twitter \u548c Facebook\uff0cBanyan Partners \u7684\u9996\u5e2d\u5e02\u5834\u7b56\u7565\u5e2b Robert Pavlik \u6307\u51fa\u3002\u9019\u4e9b\u7522\u696d\u9818\u982d\u7f8a\u7684\u80a1\u7968\u8868\u73fe\u7b49\u65bc\u662f\u6295\u8cc7\u4eba\u5c0d\u79d1\u6280\u80a1\u611f\u53d7\u7684\u6307\u6a19\u3002<\/p>\n<p>\u300c\u4e00\u65e6\u4f60\u770b\u5230 Amazon \u9019\u4e9b\u5e36\u982d\u885d\u7684\u80a1\u7968\u52e2\u982d\u6162\u4e86\u4e0b\u4f86\u7684\u6642\u5019\uff0c\u5c31\u8868\u793a\u4f60\u5f88\u96e3\u8b93\u6295\u8cc7\u4eba\u5c0d\u8d77\u4ed6\u7684\u65b0\u79d1\u6280\u516c\u53f8\u611f\u8208\u8da3\u4e86\u3002\u300dPavlik \u8aaa\u3002<\/p>\n<p>\u4e0d\u8ad6\u6700\u7d42\u7684\u539f\u56e0\u662f\u4ec0\u9ebc\uff0c\u9577\u671f\u5728\u89c0\u5bdf\u80a1\u5e02\u7684\u4eba\u8a8d\u70ba\u9019\u9663\u4f4e\u6f6e\u4e0d\u6703\u6301\u7e8c\u592a\u4e45\u7684\u3002\u78ba\u5be6\uff0c\u6bcf\u500b\u9280\u884c\u5bb6\u5c0d\u5831\u8457\u80a1\u7968\u6392\u968a\u7b49\u8457 IPO 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