IPOs Starting to Gain Some Traction . . . Finally
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Investment bankers are feeling some relief lately. IPOs are getting an audience from investors. Here's a look at what to expect for next week:
CareScience.com provides an integrated suite of Internet-based products to gather, store, analyze and disseminate clinical information. Their products use proprietary clinical algorithms and data collection and storage technologies to perform complex clinical analysis (yes, definitely complex, but does sound cool).
Customers include hospitals, health care systems, health plans and pharmaceutical manufacturers. But the company is still green. Revenues for 1999 were $4.35 million while net losses were $3.55 million.
Deutsche Banc Alex. Brown is the lead underwriter and the price range is $15-$17. The proposed ticker symbol is CARE.
Genuity's services have been provided to approximately 6,500 enterprises, such as Cabletron Systems, Yahoo! and ZDNet, and to approximately 500 service providers, such as America Online, NetZero and WebTV in the United States and I.NET and Tiscali in Italy.
But the financials are scary. In 1999, revenues were approximately $750 million, and net losses were approximately $627 million.
Morgan Stanley is the lead underwriter and the price range is $12-$15. The proposed ticker symbol is GENU.
Virage is a leading provider of software products and application services that allow companies to distribute video content over the Internet and intranets.
The company has over 100 customers including ABC News, CNN, Disney, Boeing, CNET, Yahoo, the Harvard Business School, and the US government. But three customers dominate 53% of 1999 revenues.
Credit Suisse First Boston is the lead underwriter and the price range is $10-$12. The proposed ticker symbol is VRGE.