IPO No Show?
{{#rendered}} {{/rendered}}This is a partial transcript from "Your World with Neil Cavuto," August 19, 2004, that was edited for clarity.
NEIL CAVUTO, HOST: My next guest says his company won’t be forced into a cut rate IPO regardless of Google’s (GOOG) departure Thursday.
Lindows is a computer software company that has indefinitely postponed its own plans to become a publicly traded company. With us now on the phone from San Diego, Michael Robertson. Mr. Robertson the founder and CEO of Lindows (search).
{{#rendered}} {{/rendered}}Michael, good to have you. Why are you delaying?
MICHAEL ROBERTSON, FOUNDER & CEO, LINDOWS INC: Well, what we saw when we went and talked to institutional investors is they like desktop Linux, they like our business. But with the Nasdaq down 15 percent so far this year, they just didn’t have any appetite for any software companies, no matter what they thought of them. So we made the decision to hit the pause button.
CAVUTO: Did Google’s performance today, Michael, give you pause that, maybe, maybe, depending on the story it can be a different story?
{{#rendered}} {{/rendered}}ROBERTSON: Well, listen, Google is just an amazing, amazing company. You know, one of those once every 20 years type of company.
I mean, you look at what they did, they broke so many taboos. They went out in August, did a Dutch auction, they didn’t execute flawlessly, and they still had, you know, the largest Internet IPO of all time. So Google, I think, it is a double asterisk exception and not really a good barometer for where the market is.
CAVUTO: But there are still promising markets for windows-alternative products out there like your own. Who is to say that lightning couldn’t strike twice for you?
{{#rendered}} {{/rendered}}ROBERTSON: Well, I hope it will. I mean, back in 1999 we did do an IPO with mp3.com, which at that time was the largest Internet IPO.
CAVUTO: Absolutely. I remember it well.
ROBERTSON: Just at about $400 million. But, you know, now wasn’t the right time for us. So we hit the pause button. We’re in no rush. We’ll wait until the market is going to treat software companies well.
{{#rendered}} {{/rendered}}CAVUTO: When do you think that might be?
ROBERTSON: I don’t know. I mean, everyone points to the election as the next big turning point. I will tell you this, the individual investors that we talk to are fairly negative right now. And it’s going to take more than one IPO to really turn that around.
CAVUTO: All right. Michael, thank you very much. We appreciate you taking the time. Michael Robertson of Lindows.
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