LOCKHART STEELE — Why is Zach Nelson smiling? Because he'll soon be able to afford another Bentley or two. Fresh off a glowing Business Week profile, more details leak via TechCrunch about the impending IPO for NetSuite, the business software firm Nelson heads. Today's news: the firm's reportedly going with just Credit Suisse as its banker, which took it on the chin to snag the business. Reports TC, "Our understanding is that the company may have negotiated a lower fee for the IPO than the standard 7%, which is extremey rare." (As previously reported, the IPO hopes to raise about $100 million at a $1b valuation.)
Nelson and team aside, the other big winners? Early NetSuite backer Larry Ellison (BW: "After the IPO he's still likely to own over 50% of the stock")—and all those who dream of that IPO moment, a dream deferred lo these last, er, few months since titular domain registrar GoDaddy pulled its filing in August. Onward, etc.
NetSuite's Going Public, Looking for $1 Billion Valuation [TechCrunch]
NetSuite Gets Ready for its Close-Up [Business Week]
BONUS: Speaking of GoDaddy, Business 2.0's Paul Sloan pens a long piece about the firm and its irascible CEO, Bob Parsons. Per the canceled IPO, "Parsons says he'll come back to Wall Street eventually." Oh, they always do. (Over/under: May '07.) [Business 2.0]