$21.6 Highest Request!

Amazon's psychological price is $22, and under this opening price, the first day increase is expected to be about 30%, which is already a good reward for both investors and institutions.

On the day of Netscape's listing, the price rose by more than 200%, and Yahoo also exceeded 250%, which is actually an infringement on the interests of founders and shareholders.

The issue price was too low, and the opening and first day of the increase were too high, which meant that the value of the company was undervalued by the investment bank, and initially Morgan Stanley even wanted to determine the issue price at the price of $13 a share, but was blocked by John Doerr and Zhang Chen.

However, if the issuance price is too high, it will affect the enthusiasm of investors and lead to the failure of the issuance, so how to determine a reasonable issuance price has become the biggest problem for all IPO companies.

Forty-five minutes after the market opened, the highest inquiry price rose to 22.1, reaching the initial mental range of the Amazon team, and after another ten minutes, the inquiry range was still beating slightly, and finally stabilized at the price of 22.

The smiles on the faces of the Amazon team became more and more obvious, Bezos discussed with the crowd, and representatives of Goldman Sachs and Morgan Stanley each took their phones to report to the company, and in the end, the opening price was determined at $22.5.

The staff of the New York Stock Exchange have already set up the opening bell, and unlike the opening bell, the opening bell is really going to be struck with a mallet, and it is struck in the lobby, not on the small balcony where the market bell is struck.

Of course, even if it rings once, the real bell is still electronically controlled.

At 10:38, Amazon officially opened!

Everyone looked at the green numbers that kept beating on the big screen above their heads with a happy face, especially Bezos, who has experienced too much in the past two years since the establishment of Amazon.

From the embarrassment of not having a single order, to the dilemma of insufficient warehousing, to the crisis of not being able to find venture capital funds and the torment of the IPO stage, Bezos has experienced everything that an entrepreneur can go through.

And now, Amazon has officially landed on the New York Stock Exchange, and the corners of Bezos' eyes are even a little moist.

Zhang Chen was also a little excited at the moment, although he had no feelings for Amazon, but after all, this was the first listed company he had invested in, and it was still listed on the New York Stock Exchange!

After Amazon went public, Tinder's stake became 8.5%, cashing out $8 million, and PE was nearly 10 times.

By the time the market closed at noon, Amazon's stock price had rushed to $24 and was firmly in position.

The market value is more than $700 million! The value of Amazon stock in the hands of Tinder Source is more than $60 million!

Although it slightly exceeded the psychological expectation of a 30% increase, indicating that the pricing was still set low, everyone still had a smile on their faces.

Goldman Sachs' Jim shook his head with a smile: "Jeff, no wonder you don't agree to the greenshoe mechanism, as long as the cornerstone investment, congratulations, you won the bet." ”

The greenshoe mechanism is to prevent the stock price from breaking within 30 days of listing, and the breakage, as the name suggests, is to fall below the issue price.

This is a catastrophic consequence for a listed company. With the greenshoe mechanism, the underwriter will have a 15% over-allotment option, and if it falls below the issue price within 30 days of listing, the company can buy back the shares at a price lower than the issue price, and then sell them to the underwriters or the underwriters to buy 15% of the shares from the market and cancel them. And if it is higher than the issue price, the underwriter can also issue 15% more shares. (Inaccurate, don't be serious, explain too much and waste the number of words, don't want to cheat money, don't understand yourself Baidu)

Jeff Bezos laughed and hugged Zhang Chen's shoulders: "Zack and I have already reached an agreement, if Amazon breaks, Tinder Source will invest 20 million US dollars to protect the disk." ”

When everyone heard this, they all looked at Zhang Chen with incredible eyes, and John Doerr couldn't help but ask, "Zack, is there really such an agreement?"

Zhang Chen smiled and nodded: "Yes, before we officially started the IPO work, Jeff and I reached an agreement. ”

John Doerr couldn't hide his surprise, and he tried to say something but held back.

Jim sighed: "It turns out that the most confident in Amazon is still the source of fire, congratulations, the situation is very good now, if we can keep the stock price stable in the afternoon, we will win this battle." ”

Bezos was in high spirits: "There is a good steakhouse near here, I have already chartered the venue, by the way, zack said that he bought a batch of Romanée Conti, I don't know if you brought it today?"

Zhang Chen laughed: "Forget about Kandi, it's not yet the drinking season, of course you have to drink champagne on a day like today, two large bottles of cook, enough to make you dizzy when you look at the plate in the afternoon." ”

Howard Hellberg looked embarrassed on the sidelines, and now this result is a good thing for him, but his own performance just now made him really have no position to celebrate with everyone shyly.

"You have to understand that for Morgan, the value of your existence is how much benefit you can create for them, and it is not you who creates benefits, but your customers. As the group walked out, Zhang Chen passed by Howard's side, stopped, said something to him, and then patted Howard on the shoulder.

John Doerr's eyes flashed, he thought that Zhang Chen would make Howard unable to get off the stage after winning a big victory, but he didn't expect Zhang Chen to say such a few words to Howard in a serious manner.

"It doesn't look like an eighteen-year-old boy. John Doall said silently in his mind.

After all, there is still a plate to watch in the afternoon, and the real celebration will be held in the evening, although everyone is happy, they don't drink too much, and after eating in a hurry, everyone rushes back to the New York Stock Exchange to continue to watch the market.

The U.S. stock market was closed at noon, and as soon as they returned to the trading floor, everyone couldn't help but smile happily when they saw that Amazon's stock was still green.

Bezos feels that the past few decades have not had as much time to laugh together as there is today.

After all, an IPO is one of an entrepreneur's greatest wishes.

Until the market closed at 4 p.m., everyone had been on the trading floor, but the atmosphere was more joyful and relaxed now than when the bell rang, and Bezos and others were even in the mood to joke with the reporters interviewing them.

"Is Amazon's market capitalization overvalued? Of course not. We're now the first e-commerce platform to go public, and the turnover is already close to Barnes & Noble, which is now worth $1.5 billion, and I think we should be at least ten times more than theirs. ”

"Of course, I can buy a million shares with my own money right now, but it seems that no investor is willing to sell it, haha. ”

"You ask Zack about his relationship with Evelyn, and it's better for you to ask him yourself, but I'm sure they're both very discerning people. ”

In the end, as of 4:00 p.m., Amazon's closing price on the first day of listing exceeded $25, with a market value of $750 million.

"Well, yes, I will invest in more Internet companies in the future, I have always been confident in the Internet, and it is far from the top. Zhang Chen talked eloquently to many reporters.

"Where is the apex? Haha, no one should be able to give an accurate answer, but I know that the Internet is the most important change in human history, and now the Internet is just a young shoot, and it has exploded with such a powerful energy, maybe in the future, the Internet will be the most important industry, not one of them. ”

"That's a very pointed question, but I hope investors can give more time and expectations to Internet companies. You know, it took more than 20 years for Edison's power company to really make a profit, and the Internet, as an epoch-making revolution, I'm sure it will take much less time to really start making a profit than the power revolution, yes, I think so. ”

Tang Miaomiao looked at Zhang Chen, who was swaying freely in front of the camera, her eyes were full of admiration.

What a vision.