Even by the stratospheric standards of Silicon Valley tycoons, Oracle’s Larry Ellison enjoyed quite a payday Thursday, recording a $2.76 billion gain on the strength of the Wall Street debut of a software firm he bankrolled and a hearty rise in Oracle stock.

The much-anticipated initial public offering of NetSuite, a software maker that caters to small- and medium-size businesses, exceeded expectations. NetSuite debuted at $26 a share, nearly double the target price of $13 to $16 the company had disclosed earlier in the week. By the close of trading, NetSuite shares climbed 36.5 percent to $35.50, putting the value of Ellison’s 54 percent stake above $1.1 billion. Read source here:

Details from www.finance.google.com on “N” are below:

NetSuite Inc. is a vendor of on-demand, integrated business management application suites for small and medium-sized businesses. The Company provides a suite of enterprise resource planning (ERP), customer relationship management (CRM) and e-commerce capabilities that enables customers to manage their critical back-office, front-office and Web operations in a single application. Its suite serves as a single system for running business operations and is targeted at small and medium-sized businesses (SMBs), as well as divisions of large companies. The Company delivers its suite over the Internet as a subscription service using the software-as-a-service or on-demand model. As of March 31, 2007, it had over 5,300 active customers.

2955 Campus Drive Suite 100
San Mateo, CA 94403
USA - Map
+1-650-6271000 (Phone)
Company website:
http://www.netsuite.com
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