Went public 3/15/2000 at $16 apiece
Filing Range:4.5 mil. shares @ $13 to $15
Shares Outstanding:34.86 mil. shares
Chase H&Q (Co-lead) /CIBC World Markets
(Data in $ millions)
Total Revenue $.29 $2.65
Net Loss -1.65 -10.9
Founded in August 1997, Loudeye Technologies provides Internet media infrastructure services and applications that create a complete solution for the media, entertainment and corporate markets. With the millions of hours of existing audio and video content and the thousands of hours of new audio and video content created each day, media owners have become increasingly aggressive in exploring new ways to reach audiences and distribute their content. The company’s solution simplifies and accelerates the process of delivering audio and video content to the Web. Loudeye’s proprietary technologies and processes enable high quality, high volume, platform neutral processing of significant quantities of digital media. Customers include Atom Films, BMG Music, Disney Enterprises Inc., EMusic.com Inc., Hewlett-Packard Co., Kanakaris Communications Inc., Microsoft Corp., Sony Music Entertainment Inc. and Sony Trans Com. The company’s digital media services and applications enable customers to manage their Web-based audio and video content. Loudeye offers complete digital media services and applications that provide customers with an end-to-end solution encompassing the conversion, encoding, management and distribution of digital media. The benefits of a Loudeye solution include high quality, large volume, accelerated time to market, format and platform independence, superior reliability and flexibility. Loudeye recently sold $47.8 million of preferred stock to several investors, including AOL, CBS, Microsoft and NBC. Additionally, in February, the company entered into a partnership agreement with Akamai Technologies, whereby Loudeye will sell Akamai $5 million of its common stock.
The proceeds will be used for capital expenditures primarily associated with expansion of encoding and hosting infrastructure and other technology and systems upgrades and the establishment of production and sales facilities in Santa Monica, Calif. and New York.
Olympic Venture Partners, RRE Ventures, Encompass Ventures, Weld Brown LLC