Went public 2/4/2000 at $22 apiece
Filing Range: 5 mil. shares @ $17 to $19
Shares Outstanding: 32.75 mil. shares
Underwriters: Robertson Stephens
Dain Rauscher/SG Cowen Securities/E*Offering
(Data except per-share in $ thousands)
Total Revenue $29,002 $34,285
Net Loss -9,041 -28,855
Net Loss Per Share -.91 -2.88
FirePond provides integrated e-business sales and marketing solutions for companies wishing to offer complex products and services through business-to-business and business-to-consumer e-commerce channels. The software and services facilitate the merging of e-commerce selling, customer relationship and channel management on a single, Internet-based platform. FirePond Application Suite allows companies to offer personalized products, services and content to customers over the Internet. Products can also link information obtained from business-to-business or business-to-consumer e-commerce transactions into traditional sales channels, and can share information from these interactive, Internet-based transactions across the enterprise. FirePond targets Global 2000 companies in selected industries characterized by complex products, services or channel relationships, including healthcare/insurance, financial services, high technology, and telecommunication,. Customers include KLA-Tencor, Renault V.I. and Sprint.
Estimated at $54.3 million, net proceeds will be used to repay the outstanding principal balance of up to $5.0 million plus accrued interest on a revolving line of credit, a $2.0 million term loan plus accrued interest, as well as $6.0 million of subordinated promissory notes plus accrued interest of approximately $160,000. The remainder of the net proceeds will be used for working capital and general corporate purposes.
General Atlantic Partners LLC, Technology Crossover Ventures
William Grabe, General Atlantic Partners LLC May 1997