Amazon.com issued an initial public offering in May of 1997. Prior to its IPO, the following information on shares outstanding was listed in the final prospectus:

Selected Shareholders Prior to IPO	Number of Shares Owned
Jeffrey Bezos	9,885,000
L. John Doerr	3,401,376
Tom Alberg	195,000
Scott Cook	75,000
Patricia Stonesifer	75,000
All directors and executive officers as a group (14 total)	15,688,925
Total shares outstanding prior to IPO	20,858,702
Total new shares available for public purchase	3,000,000
Total shares outstanding after IPO	23,858,702

As indicated above, the firm issued 3,000,000 new shares in the IPO. The initial price was $18.00 per share with investment bankers retaining $1.26 of that price as fees. The final first-day closing price was $23.50.

1. What were the total proceeds from this offering (from the new shares issued)? How much of that total went to Amazon (net of fees)? How much went to the investment bankers? What percent went to the investment bankers?

2. Mr. Doerr owned a significant number of shares. What was the market value of these shares at the end of the first day of trading?

3. What was the total market value of Amazon.com following its first day as a publicly held company?