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Newegg finally goes public, with financial analysts expecting big things

Online retailer Newegg today announced plans to go public, filing for a $175 million IPO, according to an SEC filing.

Newegg is best known as a technology e-tailer, but has expanded of late to include other consumer electronics.  Since launching in 2001, the company has been profitable every year, with $2.1 billion in sales in 2008.  In 2007, the company saw $1.9 billion in sales, with the number expected to increase as Newegg expands its business.

The company has seen dramatic success after making changes to support small- and medium-sized businesses in the United States.  Newegg also has its sights outside the United States, with China expected to be an important step in the company's continued expansion.  Furthermore, Canada also is expected to be a big market for Newegg, with many Canadians long requesting to be able to make purchases from the site.

The company does have to deal with several issues in the immediate future, including a patent infringement lawsuit filed by Soverain Software, according to the IPO registration filing.  If Soverain is successful in getting an injunction against Newegg, the company may be forced to "stop or alter certain of our business activities."

In the future, Circuit City -- although its physical stores went bankrupt, a liquidator purchased the company's online business and keeps it running -- will lead the charge of online businesses that aim to derail Newegg.

The IPO will be handled by Citi, JP Morgan, and the Bank of America, with Newegg's largest shareholder, Insight Venture Partners, also completing another IPO earlier in the year.



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RE: Great Company
By Oregonian2 on 9/28/2009 6:36:42 PM , Rating: 2
I've been a customer of them for many many years as well -- but their prices aren't anywhere near as good as they once were. I've also had them ship me something sold as "new" (NOT a refurb or return or the like) but was obviously a used/returned item. I still like doing business with them, but they've jumped off the pedestal that I once had them on.


RE: Great Company
By Morphine06 on 9/28/2009 8:14:15 PM , Rating: 2
This is exactly how I feel.

I live in the SF Bay Area and ewiz.com is my new favorite. Cheapest UPS shipping is still next day delivery.


RE: Great Company
By GoodRevrnd on 9/29/2009 3:52:29 AM , Rating: 2
That's because ewiz is in San Jose... Also, their RMA department can eat a dick.


RE: Great Company
By PhoetuS on 9/29/2009 9:13:11 AM , Rating: 2
I agree entirely with your assessment of their RMA dept.

I stopped doing business with them because of their bullshit RMA tactics.


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