RealTime IT News

Internet Market Close Report for 1998.08.05

  05-Aug-98 point change % change
ISDEX 126.37 -1.01 -0.79%
NASDAQ 1,788.20 2.56 0.14%
DJIA 8,546.78 59.47 0.70%

  • Lycos (NASDAQ:LCOS) gets a patent for its WiseWire service which lets users rate and rank sites and uses this data to deliver appropriate results in directories and guides. As with any patent, however, its teeth exists in the industry recognizing it or challenging it.

  • Healtheon, the startup Web-based healthcare benefit information service founded by Netscape (NASDAQ:NSCP) founder Jim Clark files to go public. No shares or price determined yet but for the six months ending June 30 its revenue reaches $20.7 million. Losses are $73 million since operations began in 1995. Kleiner Perkins venture capital backed. We think Healtheon could fetch $250 million valuation or about 6x annualized revenues based on comparables and the current state of the market.

    Internet Investment Symposium '98 @ Fall Internet World!

    Book now! New York City, Oct. 8-9 as Steve Harmon talks investments with some of the top names in the industry...CEOs of GeoCities, CMG Info, DoubleClick, venture capitalists doing the $ billion deals, and some of the top Internet stock analysts on Wall Street (Steve was one of them) selected by CBS MarketWatch!"