Introduction
On July 11, 1997, a startup company with the catchy name of @Home went public on Wall Street. @Home was a system integrator providing data services over cable networks. Stock was offered at $10.50 per share and rose to $25 during its first day of trading. By the end of the first few weeks, its market capitalization was established at more than $2 billion. That's not bad for a two-year-old company that at the time had cumulative losses of $50 million and fewer than 10,000 customers.
Soon after, in January 1999, @Home merged with Excite, an Internet portal service, to form Excite@Home. In turn, Excite@Home is now substantially owned by AT&T, through AT&T's acquisition of TCI. Such is the current interest—perhaps frenzy—of product development, ...
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