Went public 3/14/2000 at $30.02 apiece
Filing Range:6.6 mil. shares @ $25.37 to $30.12
Shares Outstanding:150 mil. shares
Underwriters:Morgan Stanley Dean Witter
Cazenove & Co./Deutsche Bank/Donaldson Lufkin & Jenrette/Warburg Dillon Read
(Data in $ millions)
Y/E 3 MOS
Total Revenue $4.29 $6.89
Net Loss -7.29 -9.73
lastminute.com offers consumers in the United Kingdom, France, Germany and Sweden last minute opportunities for airline tickets, hotel roooms, package holidays, entertatinment tickets, restaurant reservations, specialty services, gifts and auctions. The company provides real-time access, low prices and a range of product offerings. Customers can purchase products and services via the telephone, but the company’s service is based on the Internet. Last year approximately 90% of purchases were completed online, including 600,000 in the UK and almost 200,000 internationally. As of Dec. 31, 1999, last minute had secured relationships with 25 interantional airlines (Virgin Atlantic and British Airways); 70 package tour operators (Airtours and Thomas Cook Holidays); 165 theatre, sports and entertainment promoters (English national Ballet and the Royal Albert Hall); 45 restaurants (Chez Gerard and Conran restuarants); 20 specialty service providers (Fresh Food Co. and Keyholding Co.) and 200 gift suppliers (House of Chocolate and Ferrari rentals.) The company has entered into several agreements to market its Web site with other key Internet properties that have a presence within its operating territory, including Excite U.K., Freeserve and MSN in the United Kingdom.
The company will use the proceeds generated by this offering for sales and marketing services development and international expansion. The comapny expects to exhaust the majority of the proceeds for these purposes over the next 12-months.
Cheetah International Investments Ltd., Global Retail Partners LP, Innovacom, Venture Partners Multimedia ASA, Intel Corp., BAA PLC, T Telematik Ventures, Dotcom Investment Holdings Inc., NewMedia Investors Ltd.