iVillage and the Bombay boys.
Mumbai-born duo at iVillage bask in Nasdaq glory
Thursday, March 25, 1999
Bala Murali Krishna
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New York, Mar 24: Mohan Hira and Dunston Almeida (Almeida is iVillage's director of business development and finance) didn't exactly become millionaires -- at least not yet -- even though they rode the dizzying dream of making an Internet initial public offering (IPO).
And the two Mumbai-born men aren't "going around to that Ferrari dealer out there," too, as Almeida pointed out. But one thing is sure: they are two happy men after iVillage, which operates websites for women, made its IPO.
"We are happier 24-year-olds than (we were) yesterday," Hira said hours after iVillage's stock chalked up handsome, but still unspectacular, gains of over 200 per cent from its offer price of $24, already higher since the chief underwriter Goldman Sachs first tested the investors' waters. The stock, listed on the Nasdaq, touched a high of $100 before receding to the 80s.
"I am kind of disappointed," said Almeida, in jest. In fact, there was no mistaking the glee in the pair that "grew up on E-mail and Netscape's IPO" four years ago......
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