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What was the market value of these shares at the end

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Reference no: EM131129036

Mr. Doerr of Kleiner Perkins Caufield & Byers owned a significant number of shares. What was the market value of these shares at the end of the first day of trading?

Amazon.com issued an initial public offering in May 1997.
Prior to its IPO, the following information on shares outstanding was listed in the final prospectus:

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In the IPO, the firm issued 3,000,000 new shares. The initial price was $18.00/share with investment bankers retaining $1.26 as fees. The final first-day closing price was$23.50.  

Reference no: EM131129036

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