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RealTime IT News

ISDEX Weakens After Good Start

After a brief sprint out the gate as trading began, ISDEX lost its legs as the overall market got weak knees. ISDEX closes at 299.51, off 3%. Today's snapshot:

  24-Feb-99 point change % change
ISDEX 299.51 -9.61 -3.11%
NASDAQ 2,339.38 -36.97 -1.56%
DJIA 9,399.67 -144.75 -1.52%

  • Amazon.com (NASDAQ:AMZN) acquires a minority stake in Drugstore.com. Amazon.com holds 46% of Drugstore.com's outstanding shares as of December 31, 1998. Other investors include Kleiner Perkins (which also backed Amazon), Maveron, LLC and Liberty Media.

  • Privately-held CommonPlaces, LLC, raises $6 million ramp up its "collegiate" community hub concept. It expects to launch in summer, 1999. Commonplaces is 50% owned by Network Event Theater (NASDAQ:NETS). There are a few college hubs already in existence, so the battle has begun before CommonPlaces has even put its gear on.

  • Open Market (NASDAQ:OMKT) and Vignette (NASDAQ:VIGN) team up to integrate their leading products to offer Internet marketing management. Vignette makes the popular StoryServer, which lets publishers on the Web manage data, while Open Market makes the popular Transact commerce software. We see this as a good fit that enables the melding of content and commerce offerings.

  • iVillage sets its IPO pricing between $12 to $14 per share with the goal of 3.65 million shares offered. We think iVillage could generate $20 million to $25 million revenue this year and therefore target its offer at between 12x and 15x this year's revenue. iVillage focuses on providing news and info to women.