WebMethods went public on Feb-ruary 11, 2000, coming out at $35 and dosing the first day at $212. It was the best-performing Internet-software IPO of 2000, raising $165 million. Australian-born Phillip Merrick, CEO of WebMethods, could not have predicted such success from the beginning. "We got off to a fairly rough start. At one point, we were down to $35 in the corporate checking account, and my wife and I had maxed-out credit cards. At that point, XML and B-to-B weren't exactly on the tip of the VCs' tongues," Merrick says.
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