BTB Auction Site Soars in IPO

Share this article:
Wall Street demonstrated its approval of the online business-to-business auction as a commerce model for the future on Friday by quintupling the stock of FreeMarkets Inc. in its initial public offering. The Pittsburgh company listed an initial price of $48 for the 3.6 million share offer, which soared 483 percent to close at $280 a share.


FreeMarkets creates customized business-to-business online auctions for buyers of industrial parts, raw materials and commodities. Product categories include injection-molded plastic parts, commercial machine parts, metal fabrications, chemicals, printed circuit boards, corrugated packaging and coal. More than 2,000 suppliers from over 30 countries have participated in the company's online auctions.
Share this article:

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in News

NBA Names Insurance Exec as its CMO

NBA Names Insurance Exec as its CMO

Nationwide and State Farm veteran Pamela El takes the league's marketing helm next month.

Bloomberg Names Bigley CMO

Bloomberg Names Bigley CMO

Communications chief Deirdre Bigley is appointed head of global marketing for the business and financial news company.

2014 Essential Guide to Omnichannel Marketing

2014 Essential Guide to Omnichannel Marketing

The 2014 Essential Guide to Omnichannel Marketing‚ÄĒeverything you need to know about Omnichannel, all in one spot. Read on for insight.