CAMBRIDGE, Mass. – Interliant Inc., a provider of hosting and enhanced Internet services that allows users to deploy and manage Web sites and network-based applications more effectively than internally developed solutions, went public July 7. The company sold 7 million shares at $10 per share, within its $9 to $11 filing range.
The company’s venture backers include Charterhouse Group International Inc. and Softbank Technology Ventures.
Merrill Lynch & Co., Donaldson Lufkin & Jenrette and CIBC World Markets underwrote the offering, which left 42.22 million shares outstanding.
Interliant’s hosting services allows its customers to store Web sites, software applications and data on servers housed in its data centers. The company, which was incorporated in December 1997, provides Web hosting solutions to more than 47,000 customers representing more than 79,000 registered Web sites.
Interliant will use net proceeds from the sales, worth approximately $63.7 million, for equipping data centers, debt repayment and general corporate purposes.
Brad Feld, General Partner of Softbank and CHUSA, joined the Interliant board of directors in December 1997. Feld is a company co-founder. Softbank General Partner Charles Lax joined the board last January.
Interliant – Selected Financial
(in thousands, except per share data)
December 8, 1997 (inception) Year Ended Three Months Three Months Year Ended Three Months
to December 31, December 31, Ended March 31, Ended March 31, December 31, Ended March 31,
1997 1998 1998 1999 1998* 1999*
Total revenue – 4,905 13 5,434 41,292 10,341
Net income loss -158 -10,732 -539 -7,758 -39,030 -13,182
Net income loss per share -0.05 -1.22 -0.18 -0.31 – –