RealTime IT News

theglobe.com Files for IPO

New York City-based online community provider theglobe.com, inc. today announced it filed for an initial public offering of up to $50 million in common stock with the Securities and Exchange Commission (SEC).

A Registration Statement concerning the IPO was filed with the SEC but it has yet to become effective.

A spokesperson from theglobe.com refused to comment about how the company plans to use the proceeds generated by the offering.

theglobe.com is an online community that allows members to publish personal Web pages, similar to the popular GeoCities and Tripod Web sites.

Offerings also include chat, e-mail and an e-commerce area. Content includes news, weather, movie and music reviews, multi-player gaming, horoscopes and personal ads.