Chapter 199: Teasing the Market

After wrapping up the negotiations with Buffon and Pirlo, Richard shifted his full attention to the next major item on his agenda: Netscape’s IPO.

Trailing behind him were Marina Granovskaia and Karren Brady, both of whom had personally requested to accompany him on this trip to Silicon Valley, United States.

Richard agreed, recognizing the value of exposing them to the kind of high-level financial maneuvering that few had ever witnessed firsthand.

KNOCK KNOCK KNOCK.

In his private office suite in Illinois, a knock echoed softly through the quiet room.

This office had been set up by both Clark and Andreessen for Richard—a gesture of respect from the only one willing to help them in their struggle against NCSA. Though Richard rarely used the space, it stood as a symbol of their trust and partnership.

"Who is it?" Richard called out.

"Mr. Clark and his team have arrived."

"Let them in."

He had been expecting this visit. The door opened, and in stepped Netscape’s founder, Jim Clark, followed closely by CEO Marc Andreessen.

"Jim! Marc!" Richard rose from his seat, greeting them warmly with a firm handshake. "Did you manage to get any rest last night?"

Clark offered a tired smile. "Not at all. The thought of the company going public today kept me up. I kept wondering if this was real or just a dream... I didn’t sleep a wink."

Richard noticed the dark circles under Clark’s eyes. The anxiety was evident, and it was understandable.

Whether it was Clark, Andreessen, or their young team—many of them still under thirty—they had taken a fledgling company and brought it to the doorstep of NASDAQ in under a year. If they weren’t nervous, it would’ve been more surprising

Richard gave him a reassuring pat on the shoulder. After formally introducing Karren Brady and Marina Granovskaia as his right and left hands at Maddox Capital, they began their discussion.

Andreessen chimed in with a grin, "The demand is insane. I heard that if you’re not investing at least $100,000, you won’t even get a single share. Even Goldman Sachs was caught off guard."

Richard chuckled. "I’ve heard the same. Word is the IPO’s a runaway success already. People are scrambling to get in. Jim, you might want to start thinking about how you’re going to spend that first billion."

Jim Clark managed a laugh, and some of the tension melted from his face. Richard’s calm tone, mixed with quiet confidence, was contagious.

"I was worried that if the IPO underperformed, it might somehow hurt you, since you put your trust in me. But I’m really relieved now."

Netscape’s meteoric rise hadn’t come from luck alone. A significant part of it was thanks to Richard’s early vision—crafting not just a product, but an ecosystem that would keep users—and advertisers—coming back. That framework gave Netscape more than just momentum. It gave them a long-term plan, and Wall Street was buying in.

Richard didn’t respond to the praise. Instead, he gestured toward the sofa and said, "We still have some time. Let’s sit down and talk."

The five of them settled into their seats, Richard at the center with Marina and Karren just behind him, facing their guests.

"Would you like some tea while we wait?" Richard offered.

"No, thanks," Clark replied, his tension clear. "Honestly, if I eat or drink anything, I might just throw up."

"There’s nothing to worry about," Richard said calmly.

"Easy for you to say. This is a NASDAQ listing we’re talking about," Clark replied, his eyes wide with nerves.

Having barely slept all night, Clark glanced anxiously at Richard.

Andreessen broke the silence, asking, "Once the stock starts trading, there won’t be a huge sell-off that crashes the price, right?"

Richard smiled reassuringly. "Everyone says the new millennium will be defined by an information revolution powered by the internet. And who’s leading that revolution?"

Clark caught on immediately. "Netscape. The company we built."

"Exactly," Richard nodded, leaning back and clasping his hands. "Money is the most honest and straightforward language. The rush to buy into the IPO shows investors believe Netscape—and the internet—are the future."

"Intel’s CEO said something similar in a CNBC interview," Karren added. "He predicted that within a few years, over a billion computers would be connected online, creating massive value."

"See? Even they recognize the true value of Netscape. So why don’t you trust your own product?" Richard said, leaning forward. "If people see this stock as a guaranteed jackpot but can’t get in because demand is so high, won’t that just make them even more desperate?"

"That makes sense," Clark nodded thoughtfully, though curiosity lingered in his eyes. "So, what do you think those investors who missed out on the IPO will do?"

Richard remained silent, passing the question to Andreessen, the CEO instead. He replied confidently, "They’ll be eager to buy shares once the stock starts trading. The demand won’t disappear—it’ll only grow stronger."

Richard nodded at this. "The harder something is to get, the more people want it. I guarantee once we’re public, those investors will be lining up with buy orders."

"Really? You think so?"

"Have I ever spoken empty words? Trust me—once we go public, the stock price will easily double. Just wait and see."

"..."

Clark’s question held a mix of hope and doubt, but Richard answered with steady confidence.

"I truly believe it will." Clark smiled, hope flickering in his eyes—then suddenly, his brow furrowed. "But why do you want to sell all your shares in the IPO?"

This question puzzled both Jim Clark and Marc Andreessen.

It was common for early investors to sell part of their shares at this stage to realize some profit—whether by cashing out or through issuing new stock from the founders’ and investors’ portions. But selling all of one’s shares so soon was unusual, and it raised questions about confidence and long-term commitment.

Currently, Richard holds about 12 million shares, roughly 40% of the company—a significant stake by any measure.

Thanks to Richard’s intention to cash out his shares, both Clark and Andreessen didn’t need to sell a significant portion of their own holdings. While they were grateful for that, it also puzzled them.

"I just want to sell later when the price is at its highest, so don’t worry about it," Richard candidly revealed to both of them, as if it were no big deal.

There is a reason why Richard wants to sell his Netscape shares as soon as possible.

The price of Netscape will likely skyrocket right after the IPO, reaching its peak during the initial euphoria. This is when excitement and speculation are at their highest, driving the share price up.

However, after this peak, the price will continue to rise more gradually—until Microsoft finally decides to enter the field and change the market dynamics. That’s why Richard wants to pull out early, to maximize his gains before the landscape shifts.

Many people might not know this, but the battle of Netscape and Microsoft will begin shortly, and this is not a coincidence.

Netscape went public, the stock is hot, and the price sharply increases. Soon after this, Microsoft released Internet Explorer. The date? Just a week after Netscape went public.

Some people might think it is a coincidence, but another eight days after the release of Internet Explorer, Windows 95 was released and it was a huge deal for many people. In fact, when it launched, there were parties at midnight where people lined up at stores around the block.

Along with the introduction of Windows 95, Microsoft released the ’Microsoft Plus!’ for Windows 95 pack, which contained several optional components for high-end multimedia PCs, including Internet Explorer, DriveSpace, and many additional themes.

Microsoft reportedly spent $300 million on marketing alone for this.

In the United States, the Empire State Building in New York City was lit to match the colors of the Windows logo. They even unfurled a massive, 100-meter or 330-foot banner down the side of the CN tower in Toronto.

In the end, their efforts paid off.

The sales were strong, with one million copies shipped worldwide in just four days.

In short, everything was planned. So, from the very beginning, Netscape and Microsoft were set to clash—and Richard was positioned to profit from their battle.

This is why, after cashing out his money from the Netscape IPO, Richard plans to wait until Microsoft launches their product and impacts Netscape’s stock price.

When the shares hit their lowest point, he plans to swoop back in and buy them up at a bargain for the second round. However, this time, he didn’t acquire the shares as an insider, but through the public stock market—and there’s a reason for that.

He wanted to redirect the financial ecosystem he had helped build around Netscape—through Infoseek, Geocities, and Register.com—toward Yahoo.

As everyone knows, being an insider shareholder comes with restrictions: he would be obligated to prioritize Netscape’s interests.

But if he bought the shares through public trading, the situation would be different. He wouldn’t be bound by those restrictions, meaning he could freely shift the ecosystem between both companies.

Richard smiled with satisfaction, leaning back comfortably in his seat. He could hardly wait for the scheduled date to arrive.

’At least until AOL decides to fully acquire Netscape—only then will I consider selling all my shares again."

While Richard was lost in his own thoughts, others completely misunderstood his words.

For Marina and Karren, they thought he simply wanted to sell when the share price was at its highest—nothing wrong with that. But for Jim Clark and Marc Andreessen, they believed Richard was trying to protect them from AOL’s takeover, so they could still maintain control over Netscape later.

As expected, Clark’s eyes filled with deep trust, and he grasped Richard’s hands tightly.

"Meeting you in my toughest times was the greatest luck of my life!"

"Uh...? O

—

oh, yeah."

Richard was taken aback by this.