SAN MATEO, Calif. – Women.com Networks Inc., an Internet network dedicated to women, filed to go public May 13. The company has not yet announced how many shares it plans to offer or a suggested stock price.
Morgan Stanley Dean Witter, BT Alex. Brown and Salomon Smith Barney are underwriting the initial public offering.
MediaOne Interactive Services Inc. and Hearst Communications Inc. are venture investors.
Women.com, founded in October 1992 under the name Wire Networks, is an online network devoted to women that provides membership services such as e-mail, personal home pages and community chat rooms. In a recent partnership with Hearst Industries, the network now hosts 10 Hearst magazine sites, and the publishing giant provides Women.com with exclusive online content from its publications. The partnership combines Women.com and HomeArts.com, a Hearst-owned site.
Women.com features 19 information areas including entertainment, horoscopes, home and garden, family, fashion and beauty, news, weddings, fitness, food, health, money and career.
The company, which has never paid dividends, made $7.2 million in sales during 1998.
Barry Weinman, managing director of Media Technology Equity Partners, joined the company’s board of directors in August 1995, followed by Natalie Egleston, vice president of business development at MediaOne, in September 1997. Cathleen Black, president of Hearst Magazines, and Alfred Sikes, vice president of Hearst Corp., became directors in January.
Women.com Networks – Selected Financial
(in thousands, except per share data )
Women.com Home Arts.com
Year Ended December 31, Year Ended December 31,
1996 1997 1998 1996 1997 1998
Net revenue 729 2,798 7,247 1,279 1,896 2,957
Net loss -2,305 -5,095 -13,045 -7,494 -9,926 -14,733
Net loss per share* -1.13