alex_h - 1:41 pm on Sep 3, 2002 (gmt 0)
Keep in mind that in tech IPOs, it wasn't uncommon to only sell 10%-20% of the stock in the IPO. The founders will retain their large stakes (unless they sell quickly). If the goal was to fleece the investors, the insiders dumped in 6 months, leaving management with very little of the company. If the insiders hold their shares, management may maintain 30%-35% of the stock.