TWO CHEERS FOR THE GOOGLE IPO

摘要

A few hours after google began trading on Nasdaq—with the stock over $100 a share, up almost 20% from its $85 IPO price—we put in a call to William Hambrecht to gauge his mood. At 69, Hambrecht is a Wall Street renegade; back in the day, he co-founded the tech-oriented investment firm of Hambrecht & Quist, but more recently he's become perhaps the most visible spokesman for Dutch auctions—the very method Google had just used to go public. Although CSFB and Morgan Stanley had co-led the deal, Ham-brecht's current firm, William R. Hambrecht & Co., had acted as an advisor to Google and had been one of the firms through which individual investors could bid for Google IPO shares.