Palo Alto, CA
Went public 2/9/2000 at $17 apiece
Filing Range: 5 mil. shares @ $11 to $13
Shares Outstanding: 26.95 mil. shares
Underwriters: J.P. Morgan Securities
Bear Stearns/U.S. Bancorp Piper Jaffray
(Data except per-share in $ thousands)
Y/E Y/E 3 MOS 3 MOS
7/98 7/99 10/98 10/99
Total Revenue $4,810 $6,424 $1,492 $2,531
Net Loss -2,999 -6,553 -798 -3,374
Net Loss Per Share -.50 -.20
Vicinity provides Internet-based marketing infrastructure services that enable its lients to direct consumers searching for a specific product or services to the nearest brick-and-mortar location that carries that product or service. The company, which was founded in October 1995, hosts a clients’ store location and product information and delivers that information to potential customers on demand via the Internet, land-line telephones, wireless telephones and other wireless devices. Vicinity can also provide information to potential customers concerning which items are regularly stocked at given locations and what promotions are being offered by participating merchants. The company has more than 280 clients with an aggregate of more than three million real world store locations. Clients include Barnes & Noble, Marriott, McDonald’s, Mercedes-Benz and Nike.
Estimated net proceeds of $65.8 million will be used to expand sales and marketing resources, including expanding the company’s business in Europe and Asia ($15-20 million), develop new technologies and products and improve the company’s technology infrastructure ($15-20 million), with the balance earmarked for working capital and other general corporate purposes.
CMG@Ventures, Oak Investment Partners, 21st Century Internet Management Partners LLC, EnCompass Group Inc.
Jonathan Callaghan, CMG@Ventures May 1997
James Geddes, Jr., EnCompass Group Inc. August 1999
Peter Mills, CMG@Ventures February 1996
Norman Nie, Oak Investment Partners December 1998