On Sept. 28, the company that handles Internet payments for auctioneer eBay and others filed for an initial public offering, but it faces high hurdles:
DISMAL MARKET FOR IPOs
September was the first month since 1975 when not one company went public. Worse, only one Internet business has had an IPO this year, compared with 129 in 2000.
Investors may cringe at PayPal's red ink, which totaled $56.9 million in the first six months of this year on sales of $34.2 million.
There aren't many seasoned executives at PayPal to assuage investor worries about experience. Its top 11 execs average 32 years of age, including a 33-year-old CEO.