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Valuecommerce IPO post teaser August 17, 2006

Posted by fukumimi in Internet, IPO, IT, Japan.

I’ll be posting more about the Valuecommerce IPO in a day or two, with some discussion of Terrie Lloyd‘s view on the matter,a discussion about the sustainability of growth and sky high valuations for companies in this increasingly overcrowded sector (another affiliate marketing company has been cleared to IPO on MOTHERS next month), a look at Valuecommerce’s fundamentals (esp. in comparison to two competitors who have IPO’d before Valuecommerce), and a more general comment about the post-IPO stock price movements for stock listing on the emerging markets exchanges.

In the meantime, I will echo the sentiments expressed elsewhere and just say that I think it is great that non-Japanese entrepreneurs have been succesful. (Having said that, it should be noted that both Tim Williams, the Founder and Chairman, and Brian Nelson, the President and CEO, have both lived in Japan longer than I have)

Hopefully these entrepreneurs don’t see the IPO as the beginning of the end (ie thinking about personal exit strategies), but the end of the beginning.

One interesting fact found in the prospectus:

One Ichiro Suzuki, of Toyoyamacho, Nishikasugaigun, Aichi Prefecture is listed as holding 130 shares. That’s half a million dollars right there.

But I guess this particular guy won’t really care, as he gets paid $11M to play for the Seattle Mariners this year, and who knows how much he gets in commerical endorsements. Yes, it is that Ichiro. It is on pg142 of the prospectus, for those that care to check. Ichiro’s investment goes back to 2000.

I do wonder how a professional baseball player ended up making an (admittedly small ~0.14%) investment in this company. Even at that level of investment, he is the second largest individual investor in the company (excluding employees and ex-employees, of course).



1. sameer - August 19, 2006

What are valuecommerce’s competitors? I’m starting a japanese site and am looking for ad networks to join. so far ive got adsense, overture, and valuecommerce on my list

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