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To: Bill Harmond who wrote (8655)3/22/1998 1:57:00 AM
From: StaggerLee  Read Replies (1) | Respond to of 27307
 
>>None of the officers or directors sold stock at the IPO. Neither did Softbank or Sequoia Capital.

Nobody has ever taken a company public at $16 when they believe the shares are worth $17, when other financing alternatives are available (as they certainly were for YHOO). You don't go public at a discount, to make friends.

Rest assured, management is as blown away by the share price as anyone.