The Mozilla Organization rewrote the entire browser's source code based on the Gecko rendering engine, and all future Netscape releases were based on this rewritten code. In February 1998, approximately one year prior to its acquisition by AOL, Netscape released the source code for its browser and created the Mozilla Organization to coordinate future development of its product. Netscape stock traded from 1995 until 1999 when the company was acquired by AOL in a pooling-of-interests transaction ultimately worth US$10 billion. The company also developed SSL which was used for securing online communications before its successor TLS took over. An early Netscape employee Brendan Eich created the JavaScript programming language, the most widely used language for client-side scripting of web pages and a founding engineer of Netscape Lou Montulli created HTTP cookies. Its Netscape web browser was once dominant but lost to Internet Explorer and other competitors in the so-called first browser war, with its market share falling from more than 90 percent in the mid-1990s to less than one percent in 2006. All rights reserved.Netscape Communications Corporation (originally Mosaic Communications Corporation) was an American independent computer services company with headquarters in Mountain View, California, and then Dulles, Virginia. Benzinga does not provide investment advice. Secretary Of Commerce Wilbur Ross Accused Of Grifting 0 Million The 'Buffett Indicator' Says Stocks Are More Overvalued Now Than Before Dot-Com Bubble Or Great Recession
This Day In Market History: Computerized Trading Pioneer Ed Seykota Born The Netscape source code served as the basis for Mozilla’s Firefox browser, which is still used today. At the time, Netscape’s browser share had already declined to around 50 percent. In 1999, AOL acquired Netscape during the height of the bubble in a deal valuing the company at $10 billion. Netscape’s web browser market share peaked at around 80 percent in 1996, when Microsoft Corporation (NASDAQ: MSFT)’s Internet Explorer soon began eating into that share. The closing price valued the web browser at around $3 billion.īy the end of 1995, Netscape shares traded at $174.
Without the company demonstrating even a hint of profitability, Netscape stock skyrocketed as high as $74.75 per share on its first day of trading before finishing the day at $58.25. Roughly a year after the company was founded, Netscape held its IPO in August 1995, and some see the excitement surrounding the IPO as one of the earliest indicators of dot-com mania. The World Trade Organization was created. In 1995, Barings Bank, the oldest investment bank in the UK, collapsed after the bank lost $1.4 billion on speculative trades in the Tokyo market.
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