Business Services Industry

Wall Street meets the information superhighway.(Hambrecht & Quist LLC launches OpenIPO, Robertson Stephens & Co. backs E*Offering)(Company Financial Information)

Electronic Business, April, 1999 by Kroll, Karen M.

Old-line investment bankers embrace new-wave IPOs

The fledgling Internet investment banking industry recently gained momentum as two legendary Silicon Valley financiers launched companies that will do initial public offerings over the Internet.

In February, William Hambrecht, founder of investment banking firm Hambrecht & Quist LLC, San Francisco, launched OpenIPO, an Internet underwriting service that focuses on firms in the Internet and software industries, as well as consumer products companies. OpenIPO is offered, through Hambrecht's new firm, W.R. Hambrecht Co., San Francisco, which also provides investment research, merger and acquisition services, and private equity deals. Deals done via OpenIPO are expected to raise between $10 million...

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