Mr. Doerr of Kleiner Perkins Caufield & Byers owned a significant number of shares. What was the market value of these shares at the end of the first day of trading?

Amazon.com issued an initial public offering in May 1997.

Prior to its IPO, the following information on shares outstanding was listed in the final prospectus:

In the IPO, the firm issued 3,000,000 new shares. The initial price was $18.00/share with investment bankers retaining $1.26 as fees. The final first-day closing price was$23.50.

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Percentage of Shares Outstanding After Number of Shares Beneficially Owned 9,885,000 Prior to Offering 7,5% Name and Address Offering Jeffrey P. Bezos 41.4% c/o Amazon.com, Inc. 1518 Second Avenue, 4th Floor Seattle, WA 98101 L. John Doerr 3,401,376 16.4 14.3 Kleiner Perkins Caufield & Byers 4 Embarcadero Center, Suite 3520 San Francisco, CA 94111 Tom A. Alberg Scott D. Cook Patricia Q. Stonesifer All directors and executive officers as a group (14 persons) Total shares outstanding 195,000 75,000 75,000 15,688,925 20,858,702 72.5 100.0 83.5