Tuesday, August 4, 2009
Part of me wants to see this work.
I saw in an email from BofA Merrill Lynch last night that they are the lead underwriter for an IPO of web site ancestry.com. It really felt like the good old days when everyone was rushing to get anything .com into the IPO pipeline.
I'm sure it's a subscription + advertising business model and equally sure that it has no shot at being a large, profitable company. I could be wrong of course. If the deal gets done, and done well, it will speak volumes for the risk appetite of this market having returned big time.
The market acted great yesterday, moving through some important psychological levels and not rolling over. Today is looking down.