Larry Ellison's other company, the still unprofitable nine-year-old on-demand software house, NetSuite, rival of such as Salesforce.com, is going to IPO using the kind of cockamamie auction process that Google used.

The company, which put in its IPO papers this summer, is now on the verge of its road show to drum up support among the investor community. That should mean it goes in two weeks.

NetSuite's told the SEC that it's figuring on its shares going for between $13 and $16, using the auction to fix the final price.

It's proposing to offer 6.2 million shares, kicking in another 900,000 maybe if there's demand. It could realize about $99 million, and be worth somewhere between $774 million and $952 million. It lost $20.6 million in the first nine months of the year, down from $27.6 million, on sales up from $47 million to $76.8 million. It sells to SMBs and claims 5,400 customers.

NetSuite recently disclosed that Larry's 60% majority interest in the company is going to be stowed in a lockbox over which he has no personal control to deflect any talk of conflict of interest. See, NetSuite is considered a potential competitor of Oracle and is also an Oracle customer. It bought $5.6 million worth of Oracle software in May.

NetSuite says it's going to use the IPO money to repay Ellison $8 million and for acquisitions.

Ellison and his family will own about 66% of the shares after NetSuite goes public. It's bound for the New York Stock Exchange under the ticker symbol "N." Larry's share is earmarked for charity.

Credit Suisse and WR Hambrecht are the lead underwriters. Hambrecht has always been fond of auctions.