Went public 3/17/2000 at $18 apiece
Filing Range:7 mil. shares @ $15 to $17
Shares Outstanding:59.35 mil. shares
Underwriters:Donaldson, Lufkin & Jenrette
Robertson Stephens/Hambrecht & Quist/DLJdirect
(Data in $ millions)
Total Revenue $.03
Net Loss -27.29
Founded in January 1999, Netpliance offers Internet-based content, applications and services through devices specifically designed for Internet access, commonly known as Internet appliances. In November 1999 the company introduced its i-opener service, which combines its i-opener Internet appliance, Internet access and its own consumer portal. The company’s i-opener service includes all of the elements required for a user to access the Internet. The Netpliance i-opener service consists of the following elements: i-opener Internet Appliance, arrives ready to use and personalized to the user based on information provided while ordering. The i-opener comes with a 10-inch flat-panel color screen, a standard-sized keyboard that includes a pointer; i-opener Internet Access, comes prepackaged with the i-opener appliance and is delivered over a nationwide dial-up network; i-opener Consumer Portal, provides an entry point to the Internet and provides links to consumer content and e-commerce sites tailored to the user’s age and geographic location. Netpliance currently derives its revenues from monthly subscriptions, but intends to generate advertising through placement on its portal. In December 1999, the company entered into an agreement with GO.com, an affiliate of The Walt Disney Co., under which GO.com will act as its exclusive provider of specified content to be stored in the children, family, sports, news and entertainment content channels.
Net proceeds of $13.7 mil. will be used for sales and marketing, subsidies for the purchase price of the i-opener Internet appliance and further development of its services.
Watershed Capital, US West Internet Ventures Inc.