AOL's IPO was generally a success, even though the closing price on the first day ultimately remained around 18 US Dollars.
But at its peak, the stock price had exceeded 23 US Dollars, indicating that the market had a certain degree of recognition for AOL.
In an era where the internet was just starting, maintaining a market value in the 1 billion dollars range was already quite an achievement for AOL.
Steve Case and his team were satisfied with the IPO result, after all, AOL was very young, with a mere 142 employees.
However, with the 60 million dollars in financing obtained, Steve Case was already considering how to expand the scale of AOL.
The NSF Network was slowly exiting the historical stage, and the tide of internet privatization was in full swing.
For AOL, it was also an excellent opportunity to launch a major attack; the timing of the financing could not have been better.
