Went public 2/11/2000 at $20 apiece
Filing Range: 7.5 mil. shares @ $10 to $12
Shares Outstanding: 43.1 mil. shares
Underwriters: Credit Suisse First Boston
Thomas Weisel Partners/U.S. Bancorp Piper Jaffray
(Data except per-share in $ thousands)
Y/E Y/E 9 MOS 9 MOS
1/98 1/99 10/98 10/99
Total Revenue $22,309 $17,246 $8,467 $17,010
Net Loss -27,479 -53,271 -24,295 -45,146
Net Loss Per Share -8.65 -9.91 -7.29 -8.93
Lightspan Partnership provides curriculum-based educational software and Internet products and services used both in school and at home. Lightspan Achieve Now, a product for students in kindergarten through eighth grade, is a series of media-rich, interactive software programs that covers the core curriculum Language arts, reading and math. The program has been purchased by more than 400 school districts in 46 states. Lightspan’s Academic Systems products provide a series of curriculum-based software that addresses the math and writing needs of underprepared college students. The company complements these core product offerings through its Lightspan.com Web site.
Estimated net proceeds of $75.2 million will be used for general corporate purposes, including expansion of sales and marketing activities and continued development of products and services, particularly Internet offerings.
Accel Partners, Kleiner Perkins Caufield & Byers, Microsoft Corp., Tribune Co., Comcast Cable Corp., Liberty Digital Inc., JAFCO America Ventures Inc., CINAR Corp., Cox Communications Holdings Inc.
James Breyer, Accel Partners 1993
L. John Doerr, Kleiner Perkins Caufied & Byers 1993
Bradley Dusto, Comcast Cable Corp. 1998
David Hiller, Tribune Co. 1993
Thomas Nagel, Cox Communications Holdings Inc. 2000
Bruce Ravenel, Liberty Digital Inc. 1994
Jeffrey Sanderson, Microsoft Corp. 1998
Barry Schiffman, JAFCO America Ventures Inc. 1997
Ronald Weinberg, CINAR Corp. 1999