IPOs/Recent Issues: AVENUE A –

Seattle, WA

Went public 2/29/2000 at $24 apiece

Filing Range: 5.25 mil. shares @ $18 to $20

Shares Outstanding: 55.67 mil. shares

Underwriters: Morgan Stanley Dean Witter

Salomon Smith Barney/Thomas Weisel



(Data except per-share in $ thousands)


12/98 12/99

Total Revenue $599 $69,695

Net Loss -3,646 -11,893

Net Loss Per Share -.34 -.61

The Company:

Avenue A provides technology-based Internet advertising services to business. Founded in July 1997, the company integrates media planning and buying, proprietary ad management technology, user profiling and data analysis systems to help advertisers increase the effectiveness and return on investement of their Internet advertising campaigns. The company’s technology platform allows it to simultaneously conduct a large number of advertising campaigns which are delivered to a broad range of Web sites and advertising networks. Such technology and data analysis systems measures and analyzes a clients’ advertising campaigns based on criteria relevant to thier specific business objectives. The company does not design the content of advertisements, which is provided by the client or a third party acting on its behalf. Avenue A’s top four clients are Gateway, Microsoft, uBid and Uproar.


Estimated net proceeds of $42.1 million be used for general corporate purposes, inclduing working capital to fund anticipated operting losses.

Venture Backers:

Oak Investment Partners, US Venture Partners

Board Members:

Jason Green, US Venture Partners May 1999

Frederic Harman, Oak Investment Partners May 1999