IPOs Starting to Gain Some Traction . . . Finally

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 is one of the largest providers
of Internet infrastructure and backbone services in the world. Their
Internet heritage spans more than three decades. Actually, the successor to
the company was BBN, which was responsible for helping to develop the
ARPAnet (that’s what got the Internet rolling). It was here that such
things as the “@” sign were first used for email.

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.

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