REDMOND, Wash. – InfoSpace.com Inc., an aggregator and integrator of Internet content services, went public December 15, offering 5 million shares at its proposed filing range of $15 each.
The initial public offering, which left 20.1 million shares outstanding, was underwritten by Hambrecht & Quist, NationsBanc Montgomery Securities L.L.C. and Dain Rauscher Wessels.
There were no selling shareholders. Venture backers included Kellet Investment Corp. and Acorn Ventures.
InfoSpace.com, the self-proclaimed “single source for value-added content,” provides content such as the yellow pages, maps, classifieds, real-time stock quotes, news on local businesses and events, weather and horoscopes to a wide-ranging group of affiliates, including portals, destination sites and suppliers of personal computer and Internet access devices. Affiliates include America Online Inc., Netscape Communications Corp., Lycos Inc. and Dow Jones’ Wall Street Journal Interactive edition.
The company has no specific plans for the estimated $75 million in proceeds earned by the offering.
InfoSpace.com has never been profitable, losing $3.6 million in the first nine months of 1998, and $429,000 in 1997.
John Cunningham IV, president of Kellet Investment, joined the company’s board of directors in July 1998, followed by Rufus Lumry III, president of Acorn Ventures, in December 1998.
InfoSpace.com Selected Financials
(in thousands, except per share data)
March 1, 1996
(inception) Year Ended December 31,Nine Months Ended September 30,
to December 31, 1996 1997 1997 1998
Revenue 199 1,685 932 5,374
Net loss -381 -429 -366 -3,588
Net loss per share
-0.04 -0.04 0.03 -0.28