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Lukewarm welcome for wireless Net IPO
Posted: 08-Apr-2000 [Source: CNet]

[A series of wireless IPOs this week left investors with their heads spinning.]

By Corey Grice -- "Stock in GoAmerica remained unchanged at $16 after its first day of trading on a heavy volume of more than 20 million shares. Shares traded as high as $18 and as low as $15.

"GoAmerica, a wireless Internet service provider that provides wireless phone access to email and Web applications for business and mobile professionals, closed the day with a valuation of $754 million. The company offered 10 million shares at $16 a piece.

"Many analysts forecast hundreds of millions of Internet-enabled cell phones and handheld devices will be in use in the near future. Coupled with high-speed wireless networks that are on the horizon, a whole new market for mobile technologies and wireless e-commerce could be set to explode.

"Some analysts believe a rash of wireless Internet start-ups will attempt to go public this year in order to gain credibility among a sea of much larger providers.


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