Silicon Valley Hears Echoes of 1999

A string of hot tech IPOs sets off alarms
Photograph by Evan Agostin/Getty Images

Not many executives have seen their companies double in value in one day. Peter Bardwick has seen it twice. Bardwick was chief financial officer of financial news site MarketWatch when it started initial trading on Jan. 15, 1999, at $17 a share. By day’s end it hit $97.50, for a market value exceeding $1 billion. Fourteen years later, on Sept. 20, 2013, Bardwick, now CFO of digital advertising firm Rocket Fuel, watched its stock almost double in value on its first day of trading.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.