Overpriced Curio to go Public

At least at some point:

Gauging Segway’s prospects in an IPO is difficult, since the company will not reveal its yearly revenue or whether it is profitable. Norrod will only say that “tens of thousands” of Segways have been sold around the world, and that the company’s revenue has been growing by at least 50% over each of the last few years.

Just to be safe, I’m going to give it a price target of $200 a share. I think it’s a tipping point.

The company’s critics believe Segway’s continued silence regarding its finances is an indication it is still not profitable, especially given the reported $100 million spent developing it.

Sources close to “walking” indicate that it will continue to be private.

Posted by Eddy Elfenbein on May 31st, 2006 at 7:53 am

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