Predictions of the death of the booming internet initial public offering would appear to be premature given DoubleClick Inc’s spectacular debut on Nasdaq on Friday. The New York City-based company, which was originally a merger between a software development company and the internet ad sales division of agency Poppe Tyson, saw its shares rise from their IPO price of $17 per share to hit $31.75 before closing at $26.75 – a rise of $9.75 or 57.4%. Some 3.5 million shares were offered and 6.3 million traded on the day in total. The company raised $59.5m before expenses. DoubleClick, which provides internet advertising tracking software and services, had earlier doubled the size of its IPO, increasing the offering from 2.5 million shares at between $12 and $14 per share. The $17 get-away price was the top end of its price target. Goldman Sachs & Co led the underwriters, which also included BT Alex Brown and Cowen & Co.
