The latest under-whelming Internet initial public offering happened on Thursday, when personal finance information provider Intelligent Life went public at $13 and closed unchanged.
The problem with Intelligent Life, which operates Web sites including Bankrate.com, theWhiz.com and Consejero.com that provide information about topics like mortgages and credit cards, may be that there are simply too many sources of financial information on the Web and that its Web sites aren’t major brand names.
While TheStreet.com’s (Nasdaq: TSCM) IPO proves that investors will still invest in the financial content from a big name, it remains to be seen how smaller players fare. It will be interesting to say how the upcoming IPOs from companies that provide financial information like Hoover’s and FreeEdgar Online fare. The guess here is that they could have a tough time.