7 ms·
Newegg.com withdraws IPO
- nathanlrivera 15y agoHere is the EDGAR filing: http://www.sec.gov/Archives/edgar/data/1341704/000119312511153303/0001193125-11-153303-index.htm http://www.sec.gov/Archives/edgar/data/1341704/0001193125111...
- palish 15y agoRelevant text: "At this time the Company has determined not to proceed with the initial public offering contemplated by the Registration Statement. The Registration Statement has not been declared effective by the Commission and the Company hereby confirms that no securities were sold in connection with the offering described in the Registration Statement. Therefore, withdrawal of the Registration Statement is consistent with the public interest and the protection of investors, as contemplated by paragraph (a) of Rule 477."
- ck2 15y agoI wonder what that was about. They are only second to Amazon in customer service quality IMHO.
- wanderr 15y agoAnd with quicker shipping. If Amazon and Newegg have something for the same price, or the difference is just a few dollars, I go with Newegg every time.
- baddox 15y agoThat was the case, before Amazon Prime.
- trafficlight 15y agoShoprunner.com evens the playing field for Newegg.
- baddox 15y agoShoprunner looks interesting. Have you actually used it? I saw that Domino's Pizza supposedly offers free delivery, but I couldn't find any details.
- trafficlight 15y agoI just signed up a few days ago. Worked as advertised. And it does show up on the Domino's order page, but I ended up getting carryout anyway.
- wanderr 15y agoI don't have an edu address. I don't have to pay an annual fee to get fast service from Newegg.
- zoowar 15y agoThat was a short bubble.
- deleted 15y ago[deleted]
- pagekalisedown 15y agoThey're trying to avoid getting screwed like Linkedin.
- mattdeboard 15y agoHave you a link to a story about this? I'd not heard anything about LinkedIn's IPO going sour. I googled but nothing except positive stories were returned.
- lotusleaf1987 15y agoThere's a reason they say sell in May. A lot of people think in June LinkedIn is going to take a beating. But who knows really, a lot of the time it is just a self-fulfilling prophecy.
- chopsueyar 15y agoFundamentals be damned? Trade like a technician.
- lotusleaf1987 15y agoSee above: LNKD's p/e ratio is 1318 GOOG's p/e ratio is 20 LinkedIn's fundamentals are damning.
- truthout 15y agoHe's saying the stock doubled in its first day of trading. Meaning the shares were offered at a price. The company sold shares at that price. The same day the value of those shares doubled. So tr market is saying the shares are worth double of the IPO (initial public offering) price. This behavior was common during the dot com bubble. IPOs doubled in price, everyone was happy. It's totally unrealistic. Anyone who buys LinkedIn is retarded. Serious people that trade the market wouldn't touch it with a 10 foot pole. Sure you can trade this crap and make fist fulls of money in the short term. The venture capitalists got paid. Do not own this stock.
- senthilnayagam 15y agoHope it has nothing to do with the plaintext password storage revelation , which came last week
- muppetman 15y agoWas it much of a story outside of tech circles? i.e. do you think the average investor would have heard about it? It's an interesting theory anyway. I suspect as someone else has posted that it's related to the way the LinkedIn IPO went.
- evandena 15y agoUnless I'm missing something, the CS Rep giving him his password in clear text does not necessarily mean it was stored in clear text.
- jackowayed 15y agoNewegg should not be able to determine what his password is. 2-way encryption is less bad than truly storing it in cleartext, but 1-way encryption is the only acceptable way to store a password unless there's some very compelling reason that you need to be able to decrypt it. (eg. I used 2-way encryption to store people's Twitter passwords before OAuth because I needed to be able to tell Twitter their passwords, so 1-way wouldn't work.)
- ori_b 15y agoIf you can get the cleartext of the password without any information outside of what lives on Newegg's servers, then the password is effectively stored in cleartext.
- r00fus 15y agoDoubtful. It is more likely they don't feel they're ready to strategically invest the capital (going IPO is to gain capital for the company mainly).
- fletchowns 15y ago
- deleted 15y ago[deleted]
- orijing 15y agoHow much of a competitive disadvantage are they at relative to Amazon due to the sales tax situation? Speaking of which, how many people actually report and pay the use taxes on purchases from Amazon?...
- mortenjorck 15y agoIllinois just added a new line to its income tax form in which it is implied "ok, you bought stuff online and didn't keep track of it because you never wanted to pay this stupid tax anyway. So here, just look up your base income on this five-line table and that's what we'll call your use tax for the year." To my knowledge, California already does this, as well as a few other states. This leads me to believe that the ongoing battle over Internet sales tax may have found a compromise at this point in flat-fee use taxes.
- ahi 15y agoI actually managed to do my taxes early this year, but I think I remember Michigan giving the option of stating how much you owe, or if you're not sure paying $50. I'm sure a lot of people just put in $0 for how much they owe. I figured it was worth $50 to get rid of the 1 in a million chance that lying came back to bite me in the ass.
- orijing 15y agoA flat use tax is the equivalent of no use tax at all in terms of purchase incentives. How does compromise address the competitive discrepancies?
- mortenjorck 15y agoAt least in Illinois' case, the competitive discrepancies were second to keeping the state government running.
- chopsueyar 15y agoMaybe they fear a hostile takeover by AMZN?
- ahi 15y agoI spent much of last weekend pricing out a custom build workstation and was having trouble finding a source other than newegg. Amazon is a disorganized mess when it comes to fulfilling very specific hardware needs. TigerDirect is just skeezy. Seems like they should have it made.
- trafficlight 15y agoI completely agree. I don't buy parts from anywhere but Newegg unless I absolutely have to. And I just signed up for Shoprunner.com since Newegg joined them. $79/year for 2 day shipping on most everything Newegg carries. Where's your Amazon Prime now?
- rawsyntax 15y agoit's the same cost? or if you have an EDU email address it can be free
- wglb 15y agoI buy all my components from Tiger Direct, and have had very good luck. I order stuff regular shipping, and it is here the next day.