The Technology & Internet IPO Yearbook: 7th Edition — 21 Years of Tech Investing... This report, our seventh edition of ‘The Technology & Internet IPO Yearbook,’ looks back at the last 21 years of technology IPOs and investing. We launched this report in 1994 to reflect on the company creation and investing lessons of the PC revolution, which kicked in with the IPO of Apple Computer in 1980. Now we have the early stage, déjà vu, lessons of the Internet revolution, which began with the IPO of Netscape in 1995. This report helps illustrate the recent financing excesses in technology that the markets will likely need to continue to re-set for over a period which, in our view, may last between two-to-six quarters. We believe inventory adjustments, company rationalization, market confidence and psychology are the key variables. One thousand seven hundred and forty-five companies have gone public in last 21 years. They carried an aggregate market value of $3.2 trillion, up 362% from an aggregate IPO valuation of $702 billion, with 5% of companies accounted for 92% of wealth creation. Eighty-two companies that have gone public since 1980 are ‘ten-baggers,’ up 1,000%-plus. The areas of greatest wealth creation have been software, networking, semiconductors, and Internet. As of 12/31/00, 69% of venture funding of the last 25 years occurred in 1999 and 2000; 56% of IPO financing of the last 21 years occurred in 1999 and 2000; 54% of follow-on financing of the last 21 years occurred in 1999 and 2000; 62% of M&A (dollar volume) of the last 21 years occurred in 1999 and 2000; 32% of IPOs of the last 21 years occurred in 1999 and 2000; 53% of IPOs from 1980–1998 were above IPO price; 25% of 1999 IPOs were above IPO price; 23% of 2000 IPOs were above IPO price. The Technology and Internet IPO Yearbook (7th Edition) – Part 1 of 1 (192 pages) Client Link FXall MultexNET First Call TheMarkets.com