it looks like the ipo market has been jolted back to life. after a slow start, last night we told you that was all about to change and it did. shares of etsy surged, more than doubling at one point. and an an interview, the ceo said it is focused on growing globally. >> 30% of the shares are international. we are focussed on a few key countries and our strategy is to build mashlgt globally. the countries are balanced buyer and seller eco-systems, so canada u.k. western europe and we are focused on those countries. etsy closed up 87% to $30 a share. >>> party city the discount supply store took party to wall street today. investors embraced the shares and the ceo said what makes that retailer attractive is the unique structure. >> we really are the traditional retailer. we have three legs to the store. we have the manufacturing operation, the wholesale operation and thretail operation and that is a unique paradigm because for our manufacturing operation it is the largest customer is the wholesale customer and for the wholesale operation the re

how about the ipos. you mentioned those.arty city right here at the ne new york new york stock exchange. what an exciting time. a listing here. that opened over 20%. that was a real winner. and, at the end of the day, it held on to gains. 20% plus. etsy, 70%. one hundred plus%. and virtu financial. other winners, united health. earnings, earnings. and coach with an upgrade from barclay. we had great earnings. charles. charles: i missed that one, nicole. i don't know if people are still smoking. our panel is smoking. the investment pros. matt mccaul. scottie nell hughes. chris. steve cortes is with us again. remote in chicago. let's do it. dig into the first real, real deal. it wasn't just ipos. right? netflix, nicole talked about it. absolutely killed it. they posted their earnings last night. now they drew in the skeptics including an analyst who came into the week unimpressed, but has a 900-dollar target on it. it did make me look a little smart. take a look at this. charles: netflix is one i've been pounding the table on.

or will the ipo

interesting to watch wast happening in the ipo space.launched a physical real life one click ordering button called the app button. we have been caught on the wrong side of it. it lets prime members reorder items by pushing the button. it's connected to amazon's app by wifi and is tied to specific brands. it comes with a hook and can be attached anywhere in the home. it's free for amazon prime members but on an invitation only basis. price action in shares one of the outperformers in the tech sector this year. in today's trade down 1.5%. >> i still think it's an april fools joke. >> it remains to be seen. it's still early. >> have you seen any other this morning? i haven't. >> i have one on you carolyn. you just wait. it's coming. >> okay. we have 45 minutes left seema. >> turning back to the iran story prime minister bejamin netanyahu is to give a statement on the iran talks. as the dollar has strengthened overnight the dollar index high by 0.2% we're seeing more pressure on the oil market. brent crude off by 0.4%. wti off by 0.8. we wi

very very successful ipo. >> the other ipos were good as well but we mentioned the factors before. this year and people are dying to get their hands on ipos right now. >> they went for it with full force. >> oh, come on wilf. should i read that story or do you want to read it? >> why the force? the force is with disney. shares of the media apology wrant -- giant popped about 1% at the same time the star wars trailer premiered on tuesday afternoon. the 7th movie in the franchise will be out in december. it picks up where return of the jedi released in 1983 left off. disney got the bought to star wars when it bought lucas films. the company is planning 3 movies as well as three spin offs. the disney ceo says this could be the most valuable property once the movie comes out. >> no predictions on how big this will be. we know that you know star wars films did incredibly well but there hasn't been a film out since 2005. the movie going audience in the world is much larger than it ever was. there are markets today that were nonexistent before in terms of movie going. china being a great

important to start on an ipo and nice price pop. a lot of ipos potentially out there.about etsy. a couple of -- we had another big one yesterday that announced, but look what's out there. we've got uber out there, first data airbnb univision, snapchat pinterest, drop box, ferrari ferrari. we don't have any announcement but they're out there and potentially could file in the next several of months. finally a quick market comment. we had some very strange action in the futures. digging ourselves out of a serious hole. s&p futures, put the futures up we were down 25 points in the s&p futures little after 8:00 last night. that is a very strange activity. it's not clear why that happened. it may have been related to some strange close we saw in the etfs last night. xop, the oil and gas exploration etf, the end of the quarter, unusual pricing at the close. there was some glitches in some nyse servers earlier in the day, david, and it's not clear if there was a connection between all of the activities. bottom line i'm investigating but we've got out of a pretty deep hole and

or will the ipo balloons soon pop? banks are back with citi, goldman and others seemingly hitting their stride this quarter. is this key sector really about to take off? we begin with the netflix blowout. a huge quarter as the company subscriber growth blew past expectations. the stock as you probably know by now is surging today. maybe nobody knows it more than dr. j. you bought the stock the day that we had mark cuban on the program. >> i got out way too early. being a fast money trader, getting in and out quick. that's not a curse. but nonetheless, a longer-term investor like mark who famously said when you and i asked him the question, how long are you in this thing, he said forever. he said my timeframe is forever. my price target is -- infinity. >> i think he was making the point that he's not a short-term guy. my conviction is so deep on this name that i'm not looking to make a buck. i'm looking to make a lot of them for a long time. >> yeah. i got out over $75 ago, judge, was not in for the earnings announcemen

three big ipos today.e nyse surging on its debut to a valuation of about $2.4 billion. joining us post 9:00 is party city ceo james harrison. good morning. >> good morning. how are you? >> i'm good. second time lucky for you guys. you tried this a few years ago, came back strongly today. >> it's fantastic. we are excited about the opportunity to get public and process the next journey. >> you priced the top end of the range at $17. talk me through what worked on the road show. >> i think what resonated on the road show the most was the fact we are in a traditional retailer. we have three legs to the stool. we have a manufacturing operation, wholesale operation and retail operation. that is a unique paradigm. for our manufacturing operation its largest customer is our wholesale operation. our retail business is its largest customer but not its only customer. if you look at manufacturing and wholesale businesses separate and apart from our own stores it's about a $650 million business. our total wholesale bu

ipo manager at renaissance.e biggest names in travel and tourism this week as the wttc global summit returns to europe for the first time in seven years. nancy is there for us in madrid. over to unanimous sy. >> thank you seema. we've been talking about the role travel and tourism plays in big business but also plays a crucial value in helping to develop parts of the world that doesn't have the advantage of other places we talk about normally. now i'm joined by petra. thank you for being here. you were here at the council talking specifically about the role that travel and tour riffle has in rebuilding parts of the world destroyed by natural disasters. tell us more about that. >> travel and tourism industry can a powerful engine to not just recovery but long-term recovery and they have been already doing it through job creations. they embrace communities helping to rebuild homes and schools and i think one thing to keep in mind is very important when you rebuild you have to rebuild in disaster proof way because

etsy is of the only ipo we're talking about. -- isn't the only ipo we're talking about. party city has begun trading on the nasdaq. scarlet fu is in the newsroom with the headlines. scar, i'm hoping there are party hats, streamers, and confetti at the nasdaq. if not, what is the point? scarlet: i would imagine there are a lot of streamers as well. 30 city shooters open for trading, curly trading at $20.14. they raised -- it have priced at $17 a piece. right now about $20.18 a share. looking at a gain of about 18% to 19%. the private equity owners did not sell any shares in this ipo. we're keeping an eye on etsy. it is not yet open for trading but it is indicated to open at $33 a share. remember, it was priced at $16 apiece. that is more than a 100% jump. it would be double what it had been priced at. that company sold 16.7 million shares at $16 of peas at the higher end of the marketed range of $14 to $16 sold -- excuse me raised $267 million overall. stephanie: did you see the party city team on the podium? not a single woman up there. that is not really a fun party. fy

there is no outlet for ipos.utside of them, you are not seeing the traditional growth from the 90's where again you show dramatic growth and then you went to the public market to get capitalism. now you have to keep raising money privately or get bought out. until that ipo market reappears it may change. you will see a lot more unicorns . you will see a billion-dollar education unicorn, the question is what happens next? you will see billion-dollar unicorns go out of business. cory: dallas mavericks owner mark cuban. ♪ cory: this is the best of bloomberg west. i am cory johnson. with learning platforms, recruitment tutoring, things are a lot bigger than textbooks. i spoke to dan rosen's wig about the expansion of career development and internships. dan: 70% of college kids to college to get a job. the ratio of career counselors to college students is one to 1000. it is an underinvested area area this gives college students and internships fight -- site. this gives them career coaching and counseling to help them

more news on the ipo front.tue financial, the pure play high frequency trading firm anticipated to ipo tomorrow, now according to dow jones prices its ipo at $19 per share. that's on the high end, $17 to $19 was the expectation. with that valuation we're talking about $2.6 billion in terms of total valuation for the company. that according to dow jones, and again what's interesting is the fact that this is the first time a pure play high frequency trading firm has gone public in this particular market here, so it will be interesting to see how investors react and what kind of demand we see for this kind of a business model. back over to you. >> thanks so much, dom chu. shares of shake shack pulling back today after a huge run to the upside in the past few days. the stock is up around 15% over the past week. dan nathan thinks he knows what's going on with shake shack and he's at the smart board with a trade school we're calling the anatomy of a short squeeze. >> it's a good old-fashioned short squeeze. here's a s

last thursday they approved 30 ipos for april.se as we are seeing chinese stocks rally with the shanghai composite closing at the highest since march 2008. the shanghai composite has risen and shenzhen at 56%. a lot of companies looking to raise cash with the bullish sentiment and with the ipos approved, 17 of the 19 and change on -- on shenzhen. that is good because some are saying that the risk of bubbles smaller index and because they are naturally more speculative in nature so the more stock on offer the more balanced the risk of the small indexes become. the biggest ipo expected to be a raisecompany, that may $527 million. angie: christine, what kind of impact can we expect to see from the ipos? locked up well, ipos a lot of cash which would otherwise be on the market. online lottery system, the funds are locked up in subscriptions and most of the funds are going to come online in mid april. if you take the broadcaster for example, they are expected to raise $527 million, but that would lock up hundred $21 billion. they are s

there is no outlet for ipo's.utside of them, you are not seeing the traditional growth pass from the 1990's, where again, you show dramatic growth and profitability, then you go to the public record to get capital to grow -- the public market to get capital to grow. now you have to keep raising money privately or get bought out. until that ipo market reappears, you will see a lot more unicorns. they don't have the outlet go public. you will see a billion-dollar education unicorn, the question is what happens next? you will also start to see billion-dollar unicorns go out of business. cory: dallas mavericks owner broadcast.com cofounder mark cuban. up next, dan rosenberg. ♪ cory: this is the "best of bloomberg west." i am cory johnson. it began as an online textbook rental company. now, it is much more. with learning platforms, recruitment, tutoring, things are a lot bigger than textbooks. i spoke to ceo dan rosenweig about the expansion of career development and internships at the summit. dan: 70% of college kids

the ipo was delayed after the publication of michael lewis' "/boys." -- "flashboys." another sign of strength in the u.s. labor market. for the sixth straight week, fewer than 300,000 americans filed for first-time jobless benefits. the table a number of people receiving benefits was the lowest since 2000. the international monetary fund and the world bank are holding their spring meeting in washington. bloomberg "surveillance" anchor tom keene spoke with christine lagarde. here is her take on the economic recovery. ms. lagarde: today we are seeing recovery coming along. forecast of 3.5% this year and 3.8% next year. it is not strong enough. it is very uneven. you mentioned brazil and china you could have mentioned russia. we had a very diverse section at the moment. mark: ms. lagarde said she would not support a delay in greece's debt payment, saying the imf has not granted a payment delay in 30 years. that is a look at the stories we are following. the u.s. housing recovery may be slowing. new home construction rose 2% in march far less than the 16% forecast by econ

back in the day you could do a $30 million ipo. just read something yesterday, there were more $100 million financers then there were ipo's. now, over the last 10 years more i.t. companies have run through private investments than through ipo. it is only like 231 that have grown to ipo over the last 10 years. because there is no ipo market because that has to be -- that has been screwed up dramatically , you have to change your strategies with how you deal with companies. cory: are we going to see another company like that and education again? mark: the cousin of prices gone up, outside of them you are not seeing the traditional growth path from the 90's. with dramatic growth and profitability, then you go to the public market in get capital to grow. now you have to keep on raising money privately or get that out. until that market reappears cory: -- cory: the small ipo market. mark: yes, you will see a shorter line. you will see a unicorn, the question is -- what happens next? you will be seeing $1 billion unicorns going out of bu

this week that's changing. >> reporter: it's a lousy year for ipos but that's about to change. the collapse of the energy business was a big problem but very few big tech details. first bo tech firm priced at $17 and dounled its value on its first day of trading. they specialize in cancer immuno therapy strong cash flow and leadership position in the market. first epsy online marketplace for handmade goods. still losing money but has a very loyal following largely but not exclusively among men. virtue financial, global market maker. 10,000 securities in 30 countries. they make money by capturing small spread between the prices of stocks. finally my favorite party city. pretty serious business. they are the leading party goods retailer in north america. they have 880 stores. they make something like 70% of the products in their stores they are also a big distributor of party goods to independent stores and to mass merchants. either way you're likely buying your party goods from them. >>> as bob just mentioned epsy the online marketplace for handmade goods is scheduled to start t

million in its ipo.llion. who knew bolin's fair that much -- balloons for that much? >> the most interesting thing i found is 1/4 of all the revenue party city brings in relies on one holiday. do you want to guess which one that might be? betty: valentine's day? >> no, it is actually halloween. imagine $2.2 billion of revenue last year from 2014. half $1 billion in costume sales alone. that is interesting but also scary. if there's an economic downturn or even a rainout, that can severely disrupt party city's revenue. betty: break down the revenue. how do they make money? >> 25% goes from costumes for halloween. about another 25% -- actually, 24%, from table where. if we buy stuff or birthday parties or something, we buy the cutlery, the paper and plastic. the third thing that comes down to is the balloons and the piÑata's. i found out that hangout is actually do come from mexico not made here or china. betty: they actually come from mexico. i'm surprised the balloons come third. helium is a part of thei

shifting to the fc ipo -- at etsy ipo. a new challenge, how to stay true to itself. joining me now to discuss is katie, a bloomberg columnist, and alicia schaefer. what do you think? up 90% today. what is your reaction? >> we will see how it plays out. i'm excited to see what it will mean for us and being able to get additional support frometsy as a business. it will be interesting to see how it plays out. alix: a history of operating losses and we may not achieve or maintain profitability in the future. at what point do shareholders say no thanks? katie: wall street will want to see a lot of interest in the platform and growth. people will be happy as long as the numbers continue to go up. eventually, they want to see profitability. alix: it could be a takeover target. how would you feel about that? alicia: no matter what they still will have the core of what it is, handcrafted goods, a marketplace for vintage and supplies. even if there is a potential takeover from ebay, some amazing things ebay offers. as a seller it wo

those are the firms that used to do 100 million dollar ipos, $50 million ipos and help companies launch at that point. those firms are gone. the trading banks are gone. with that business gone, there is no way for companies to go public at the earlier stage. tom: that's right. and there is a further complication. emily: you call it a runaway train. should companies not be raising so much? tom: companies should be raising capital. when he said it was his fiduciary responsibility to take this capital, he was right. it's a financing event that has very little dilution to his employees and other stakeholders, so i think he is exactly right. emily: how concerned are you that financings are getting so high that they are untenable? tom: there are a lot of positive forces and a lot of negative forces. a thing on the whole we will see an unbelievable exit environment in the next couple of years. we will see a lot of great businesses being built, but we will also see a lot fallout. corey: when you have more experienced founders, they will think about the subsequent issues. they will delude themse

we found there were 211 ipo sized private financings last year compared to 15 to 20 ipo's.t used to be that you had the same number of ipo's as financing. now you have 15 or 16 times the number of private financing. cory: i think one of the big differences in the ipo market isn't the size of the deals, it's the collapse of the growth action. the city used to be full of alex brown, all those firms are gone. those are the firms that used to do $100 million ipo's and help companies launch. those banks are gone. the trading spreads are gone that used to support those banks. the research has stricter and better rules. there is no way for companies to go public at that early stage. thomas: the further complication is the private markets are valuing these businesses at twice the multiple that public markets are. emily: you call it the runaway train of late fundraising. should companies not be raising so much? thomas: companies should be raising capital. stewart when he said it's my fiduciary responsibility to take this money at this valuation he's being right. i think he's totally

after filing the ipo merchants father outrage on blogs.mberg elder -- are bloomberg editor went to figure out why they are so upset. >> stuff alice just like hipsters are vector -- rebecca sailors think it to spend five hours sewing and decorating each one by hand. she sells them for $50 apiece on etsy the online marketplace with one million shops for handmade products. >> etsy was a perfect platform for me. they are doing their part to gain customers and elevate the experience of handmade. >> that is, she says, until etsy became more corporate. >> they made changes which caused a weird shift in the ecosystem. >> 18 months ago, etsy allow sellers to use manufacturers to produce en masse. the goal was to help sellers grow their businesses while etsy build greater sale. her sales have slipped 50% since then. the new policy has made a harder for consumers to find her pillows and compete on price. why not just use the manufacturer to compete? etsy>> etsy have this extreme emotional connection to their piece and they want the public at large to

back in the days of broadcast, we could do a $30 million ipo. i just read yesterday they were more $100 million private finances from vcs than there were ipos. cory: during the bubble. mark: no, now. more i.t. investment has grown through this investment then through ipos. because there is no ipo market and because we have screwed this up dramatically -- i have to get that big in there -- you have to change your ideas with all your companies and how you expect them to grow. mark: until them market reappears the smaller ipo market, you will see more of that. you will see a billion-dollar education unit warned. the question is, what happens next? because she will also see billion-dollar unicorns go out of business. cory: fascinating stuff from mark cuban. you get a sense that there are big ideas coming into education whether it is charter schools at the kid level all the way to the postgraduate level, real changes in the way that education is being offered. brett: cory johnson at the summit in scottsdale. thank you. coming up, our guest host of th

betty: sunday ipos were delayed before -- some of the ipos were delayed before? scarlet: member the book in which he alleged that high-frequency traders crowd out the small investor and mutual funds. they shoved the ipo and came back later on. it turned out to be better. look, we are at or near record highs. party city initially try to go public in 2011, but then had to pull it sale as well because of the stock market slump. a sold the majority of their state to a private equity firm. this particular ipo did not unload its state. they're going to hold on. betty: what is so special about etsy? scarlet: it is a plan b corporation which meets environmental and social standards. company like ben & jerry's and tom shoes where you buy one shoe, they donate another. companies with a social mission -- proceeds from their ipo will recruit the hundred thousand dollars -- include $300,000 to fund a nonprofit educating women and minorities on how to start their own business. their clientele base is very dominated by women. betty: craps, right? scarlet: have you got your knit

etsy has priced its ipo at $16 a shares, the top end of the range. that means etsy raised $267 million. etsy starts trading tomorrow on the nasdaq. and a high-frequency trading firm is set to price its ipo at $19 a share, at the top end of the range, according to a person with knowledge of the matter. the company is raising about $330 million. the ipo was delayed last year after a book claiming -- claimed high-speed trading was reading markets. now to the lead -- in europe google faces the biggest threat to its business ever as the eu slaps the search giant with a formal antitrust complaint. how did it come to this? it all started five years ago when the eu began investing search practices after rivals like microsoft and expedia complaint. google tried to settle three times to no avail. now the eu has filed formal charges called a statement of objections, accusing google of being anti-competitive and abusing its dominant. specifically, they claim google favors its shopping service over its rival. when you search for a lap top, google shopping results

nobody on there actually sells anything. >> why is it up 130% on ipo day? melissa: right. i think it is a sign of the top. >> i think search for return. there is such low interest rate environment. >> now up only 84%, forgive me. >> i think you're right about that. >> i think it is a niche company so to speak. they need to be able to scale that right? melissa: they don't make any money? what are you going to scale? >> how do you get more members, right? to grow the business to see what happens. >> don't lose sight, let me make this point. don't lose sight what virtu did. this is fascinating story, for two years michael lou is running around with the book saying markets are rigged. they may be rigged by the federal reserve but according to the regulators that investigated the hell out of virtu and everyone of these high frequency trading firms the markets are not rigged by them. >> charlie, doesn't success of virtu show the machines have really won? that is how they make the money. the machines that get the tiny spread. >> this has nothing to do -- here is the thing. >> sho

leslie: yet some see etsy's ipo as an opportunity.tarted a campaign to build $1.5 million and create a stake in the ipo. they are starting to do so with their wallet. emily: our bloomberg news ipo reporter leslie picker. that does it for this addition of the best of "bloomberg west." you can watch our regular show monday through friday. 10:00 a.m. and 3:00 p.m. in the west, 1:00 p.m. and 6:00 p.m. in the east. catch you later. ♪ >> the following is a paid program. the opinions and these expressed do not reflect those of bloomberg, its affiliates, or employees. >> this is a paid advertisement from united states gold and silver reserve. buying these items carries risk. offers are void where prohibited. information presented in this program is accurate as of the original taping.

emily: our ipo reporter, leslie pickel.this and edition of the best of "bloomberg west here co you can watch our regular show monday through friday. catch you later. betty liu: hi. tom steyer: good morning. betty: tonight on "titans at the table" -- this place is gorgeous, it really is. i will be chatting with billionaire businessman turned environmental activist tom steyer. tom steyer was born and raised in the financial capital of the u.s., new york city, but chose to open his investment firm farallon capital management in san francisco. he founded the company in 1986 with $8 million, and by the time he stepped down in 2012 he turned the initial investment into $30 billion, making farallon the fourth-large

emily: our ipo reporter, leslie pickel.for this edition of the best of "bloomberg west." you can watch our regular show monday through friday. catch you later. ♪ announcer: the following is a paid program. the opinions and views expressed do not reflect those of bloomberg lp, its affiliates, or its employees. announcer: this program is a paid advertisement for united states gold and silver reserve a company not affiliated with the u.s. government or the u.s. mint. the market or gold coins and bullion on our unregulated. the prices can rise and fall. past performance of the market cannot predict future performance. the views are those of the advertiser and not those of this

this ipo seems to say the -- the performance of the ipo is fantastic.se are guys i don't think everyone can do what they do. if i look at the other ipos, i wonder where the competitive advantage is. they have been doing it, doing it a long time. virtu. >> grasso? >> the theme on all these ipos, everyone has figured it out and dan pointed it out on the smart board yesterday, is this small floats they all have. if i had to pick one, i would go with party city. i don't agree with the business proposal of etsy. i don't think the company agree was their own business proposal. they don't sound confident. party city sounds like the one with the best chance of being successful. >> listen, i have a personally etsy i think could be actually a really good name except for the fact it went up to 87%. mrs. b.k. is basically a whale on there, buying everything as part of her business. up 80%, can't buy it. given those three i bpick virtu. >> guy, do you like the sock puppet? >> i don't want to see party city. virtu because we ran into all the cats that are running the

and i would be happy if there are less ipos.s: etsy and ago daddy did, move the needle. but if you buy it on opening day if you are lucky you'll do okay but you could lose money. >> ago daddy was in the coffin. but this just does not concern me but i have infinite concerns concerns-- companies went public and go daddy is up today's timid people look at earnings and jobs for the long term. >> other than land etsy it is a bad deal. charles: it is a coal company. is a great show. we appreciate you watching. we will see you tomorrow. lou: good evening. nuclear negotiations with iran extended at least through tomorrow with is in big u.s. statement with the second extension and in one day we continue to make progress that had not reached a political understanding. is a slightly more optimistic soundings van yesterday that there are several difficult issues to get back to me. but without growing calls for other nations

it's a retailer that has managed a very strong ipo. party central.eo james harrison with us in just a moment. from handmade necklaces to cutting boards in state shapes, etsy jumping. peter barnes on the stunning news out in the last hour. the astonishing rise in e-cigarettee-cigarette use among teenagers. what the traders are talking about. mike norman with oil's latest retreat. but first a fox business alert. a good size warning sign is already being waved today in front of you the investors face. it comes from companies that have already reported earnings. they're missing on revenue, folks. as in they're notshowing organi. crude oil crossing 56.71. that coupled with the vix, fear gauge, falling to a low. let's to get the floor show. traders at the imex. new york stock exchange. cme. why does this matter? why is this a warning signal that the companies are missing on the revenue line? >> yeah, investors look at top and bottom numbers. they look at outlook moving forward. if we miss in any of these areas, investors will pull back on these markets. th

lot of ipos clearly the story today. those blowout numbers from netflix and citi and goldman also factoring in. maybe not as much as people would have thought but with 50 minutes to go that's how the pictures looks on the street. coming up our market pros tell you how they think these markets will close out the week tomorrow. >>> also ahead,etsy and party city are up. we'll have all the action on the two retail specialty giants. >>> am ex out with its numbers after the bill. we'll deliver the dow components earnings as soon as they hit the tapes along with that expert enl analysis that you expect. drivers, to your marks. go! it's chaos out there. but the m-class sees in your blind spot... pulls you back into your lane... even brakes all by itself. it's almost like it couldn't crash... even if it tried. the 2015 m-class. see your authorized dealer for exceptional offers through mercedes-benz financial services. your mom's got your back. your friends have your back. your dog's definitely got your back. but who's got your b

75% of the stock after the ipo.s will be there for a while to come, but people think of party city is playing the rebound in consumer spending. people will be throwing more parties and inviting their friends over, and they will be buying their goods from party city. alix: all right, so apparently we are throwing more parties leslie, thank you so much, leslie picker. coming up next, one in six nfl players goes bankrupt within 12 years of retirement will stop i will speak with hall of fame quarterback warren moon about what it takes to achieve financial success off the field. ♪ alix: this is "street smart." i am alix steel. today, aaron hernandez was found guilty of first-degree murder. the former new england patriots star was sentenced to life without parole for the 2013 death of the fiancÉe of his sister's boyfriend. hernandez, age 25, had been on trial since january. william morse purchasing professional writers -- iriders. the terms of the agreement are not available, but the terms are said to be over $100 million

imagine when we did the ipo, they were only selling books, right? have been fortunate to work with a number of companies that have made a pass just being successful to where they have an ipo, and it is remarkably hard from that point to create a second and third act. i think there are very, very few executives, and of course, larry has proven he can do it. emily: larry page. bill: yes. and even larry ellison has proven that, as well. where they don't let the game be defined by where they started. but most people cannot do it. emily: what about google? eric schmidt, chairman of google, recently said that amazon is their biggest rival in search. bill: to qualify, he made the comments during an eu antitrust meeting. there was an incentive to highlight the competition, obviously. but i think there is some truth to it in this case. the nature of search is changing. if you were to search for an item to buy from an e-commerce search on amazon, you know where the reviews are, you know the category it is in, you know how to select prime or not. you do not ge

liz: the ipo is tough. very interesting company run by aaron levy, they went public and they struggled a certain percentage at this point. we can show box, they have one bad quarter. he didn't seem concerned, shareholders live by the quarterly calendar. >> right. liz: which is tougher, isn't it? >> that's the problem, they lost a quarter of market cap by missing earnings. liz: is that ridiculous? that's a valid company. >> it's a valid company, whether it's a valid valuation, that's for the market to determine. liz: ipo or be acquired? you have experienced both. athena neurosciences, onyx, vertex, synaptics, that allows people on the original, the tablet or the iphone. >> the iphone. liz: move it or make it bigger. those went opinion. you were early investors in all of those. they were believed to go ipo? >> i started synaptics in 86 and it went public in 2000, it had been around 14 years at that point. >> i invested in zynga early. huge news yesterday, it is plummeting today. zynga down 15% at one point to

the stock's performance since its ipo in 1986, you can check that out. don chu is at the wall with a walk down memory lane through microsoft's 40 years. >> talk about wealth creation. because this is where it becomes kind of staggering sometimes. some of the reason why's -- one of the reasons why people still kind of look toward these ipo markets and find -- or try to find that lottery ticket because let's take a look at microsoft, at least from a non-adjusted perspective. all right? back in 1986 when this company first went public, stock, a share of stock at the ipo was 21 bucks a share. if microsoft had never split adjusted its stock, it just let it keep running, kept going here, that $21 share would not be worth $11,700 per share. that's just to kind of get you an idea of how much creation microsoft has done in terms of wealth. that means it's up 64,000% since that $21 ipo price. a huge move higher since 1986. it's had, though, nine stock splits, which helps to kind of create where we are right now in terms of the overall stock price and the market va