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NewEgg going public, $175M IPO unveiled
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NewEgg going public, $175M IPO unveiled

  #1 (permalink)
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NewEgg going public, $175M IPO unveiled

SEC filing:
Form S-1

Courtesy TechCrunch:


TechCrunch
Electronics retailer Newegg plans to raise $175 million for an IPO, according to an SEC filing. The online retailer sells IT products, including computer hardware and software; and consumer electronics through its website. In the filing, the retailer says that it has been profitable every year since 2001 and posted sales of $2.1 billion in 2008.
Newegg’s net income increased 55 percent in 2008, to $28.4 million. Sales increased 13 percent to $2.1 billion in 2008, and have just more than doubled since 2004, when sales were $982 million. As a retailer, NewEgg’s’s profit margins are slim. It was only 1.4% in 2008. Amazon’s profit margins are around 3.3%, which is double Newegg’s margins. Reaching a 3.3% margin may the best Newegg can hope for. And while Newegg is seeing decent revenue growth, retail is tough, especially when your biggest competition is Amazon.
In the filing, the retailer admits that it is playing in a tough field that’s chock full of other players. Newegg says that there are “intense competitive efforts” directed at them from rivals that have greater financial resources (i.e. Amazon), giving investors no assurance that Newegg will be able to compete against the big guys.
As with any IPO, investors will be looking for growth potential and whether Newegg can expand those profit margins over time. In order to double its profits, it can either double its revenues to $4 billion or double its profit margins to match Amazon’s. Which one is more likely to happen first if at all? Would you invest in Newegg?


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Courtesy MarketWatch:


MarketWatch
Newegg said it plans to use the IPO proceeds to repay debt and for general corporate purposes, while using $25 million to expand in Canada and China over the course of a year.
Founded in 2000, Newegg said it has been profitable every year since 2001. Net sales rose to $2.1 billion in 2008, compared to $1.9 billion in the prior year, the company said, while net earnings rose to 34 cents a share from 18 cents a share.
For the first half of 2009, Newegg said earnings rose to 18 cents a share from 12 cents a share in the same period last year.


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  #2 (permalink)
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Next is Fry's Electronics / Outpost.com

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Will the Fry's shares be refundable for non performance just like most of their products?


Last edited by randyjb; September 28th, 2009 at 11:16 PM. Reason: typos
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  #4 (permalink)
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I've been wondering about an IPO for some time.. I have seen Fry's in the West coast and its got a good inventory of stuff. Will Newegg do the same?

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  #5 (permalink)
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Do you guys know why it's called "New Egg"? Let me tell you. Many years ago I bought a bunch of stock in a company called "Egg". I never sold it. How much are my shares worth now?

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cunparis View Post
Do you guys know why it's called "New Egg"? Let me tell you. Many years ago I bought a bunch of stock in a company called "Egg". I never sold it. How much are my shares worth now?

From http://www.crn.com/it-channel/164900469:


“First things first. Newegg.com is not in any way related to the former Egghead.com, which was purchased by Amazon.com several years ago.


The company’s name derives from a Chinese belief that a new egg symbolizes a new beginning, Tong said. It’s an appropriate name, considering Newegg.com was founded in 2001 just as the dust was settling from the first e-tailing boom and bust.”

Gary

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  #7 (permalink)
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Gary View Post
From http://www.crn.com/it-channel/164900469:


“First things first. Newegg.com is not in any way related to the former Egghead.com, which was purchased by Amazon.com several years ago.


The company’s name derives from a Chinese belief that a new egg symbolizes a new beginning, Tong said. It’s an appropriate name, considering Newegg.com was founded in 2001 just as the dust was settling from the first e-tailing boom and bust.”

Gary

Thanks for posting that Gary, I didn't know that and incorrectly assumed that newegg was the reincarnation of egg.

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