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Newegg tech shop sees IPO

By Julio Franco
Jul 5, 2005
  1. Newegg Inc., an online seller of PCs and computer parts, is aiming for an initial public offering in the next year as it embarks on an aggressive global expansion including a build-up in China, its top executive said on Friday.

    The company expects sales across its network to grow 40 percent to $1.4 billion this year, with virtually all of that coming from its home U.S. market, Chief Executive Officer Simon Hsieh told Reuters in a phone interview.

    http://www.msnbc.msn.com/id/8426120/
     
  2. zephead

    zephead TechSpot Paladin Posts: 1,569

    ahh, when will the outscourcing end? if george bush has his way, it'll end when all american capital has all gone overseas.
     
  3. Julio Franco

    Julio Franco TechSpot Editor Topic Starter Posts: 7,059   +646

    These are not outsourcing news, it's about Newegg operating worldwide (currently only ships to the US) and going public, too.
     
  4. Mikael

    Mikael TS Rookie Posts: 277

    No one should really be surprised that Newegg is going international. I believe that Newegg will do especially well in Canada and the UK.
     
  5. zephead

    zephead TechSpot Paladin Posts: 1,569

    i suspect they're going to move the majority base of operations to countries like india, like so many other american companies (hp is a good example).
     
  6. RealBlackStuff

    RealBlackStuff TS Rookie Posts: 6,503

    The name of Chief Executive Officer, Simon Hsieh alone should give an indication who probably owns Newegg (someone Chinese comes to mind...).
    I have no objections if they will sell cheap(er) to Ireland as well.
    Currently R.O.I. stands for "Rip Off Ireland", would love to see it revert back to "Republic Of Ireland" again!
     
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