GeoCities pops again today to north of $51 per share before closing at $45.50 on heavy volume. At its high the GeoCities valuation exceeds $2 billion fully-diluted market capitalization. This is where we thought GCTY could be trading its first day but it took the market’s second wind to get it going to the comparable values of the other top 10 Web sites. GeoCities will be in ISDEX, The Internet Stock Index, soon, with other newbies.
Let’s take a look at GeoCities today:
Aug 12 close
Primary shares (mil.)
Primary market cap (mil.)
Fully-diluted shares (mil.)
FDS market cap at open (mil.)
Estimated 1998 revenue (mil.)
Primary mkt cap/est. revenue
FDS mkt cap/est. revenue
© 1998 Mecklermedia, Internet.com
CheckFree feels pressure from Internet-based payment options and says the focus now is to meet that market, get market share now, even at short-term earnings expense. We think the move could pay off long term as these are the days of investing in growth and not earnings. Future earnings matter more with Internet companies building marketshare.
|Internet Startup Live! Venture Showcase|
The Internet investment world’s mountaintop, got a startup
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…top execs of GeoCities, CMG Info, DoubleClick, venture capitalists doing the $ billion deals, debuts hot startups at Startup Live!, and debates top stocks with the leading Internet stock analysts on Wall Street (Steve was one of them) selected by CBS MarketWatch!”