Transactions
Jun. 18, 2002
LOS GATOS' NETFLIX GOES PUBLIC, GETS $82 MILLION
Netflix Inc. secured more than $82 million in a May 22 initial public offering. Merrill Lynch & Co. led the offering, while Thomas Weisel Partners and U.S. Bancorp Piper Jaffray Inc. acted as co-managers.
Merrill Lynch & Co. led the offering, while Thomas Weisel Partners and U.S. Bancorp Piper Jaffray Inc. acted as co-managers.
Los Gatos-based Netflix is an online entertainment company that provides subscribers with movie rentals. With 11,500 movie titles to choose from, Netflix ships up to three DVDs a customer with no due date. The customer returns the movie rentals in the prepaid envelope provided. The cost is $19.95 per month.
Palo Alto's Wilson Sonsini Goodrich & Rosati represented Netflix. Name partner Larry Sonsini led the deal team, comprising associates Peter Bergman, Jeffrey Cannon and Kevin Rooney. Partner Robert Sanchez and associate Julie Bell chipped in from McLean, Va.
New York's Cahill Gordon & Reindel represented the underwriters. Partner Jonathan Schaffzin led the deal team, comprising associates Cristopher Greer, Neha Patel and Kristina Needham.
Stefanie Knapp
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