Inc. –

HERNDON, Va. – Inc., an online direct marketing company, went public November 18, offering 4.2 million shares at $14 apiece. The company’s stock priced at the top of its $12 to $14 filing range.

Hambrecht & Quist Group, Thomas Weisel Partners L.L.C., PaineWebber Inc. and Wit Capital Corp. underwrote the initial public offering, which left 19.6 million shares outstanding.

There were no selling shareholders. Venture backers included Excelsior Private Equity Fund, ABS Ventures, Novak Biddle Venture Partners L.P. and FBR Technology Ventures L.P.

Using information from member profiles, sends out personalized e-mail notices to its approximately 2.7 million members, on topics such as entertainment, health, personal events and travel.

The $53.5 million in proceeds expected from the IPO will be used for general corporate purposes, including working capital, marketing, advertising member acquisition activities and capital expenditures. has never been profitable, losing $479,100 in 1997 and $1.9 million in 1998.

E. Rogers Novak, a general partner at Novak Biddle, joined the company’s board of directors in November 1997, along with B. Gene Riechers, a managing director at FBR Technology. Douglas Lindgren, the chief investment officer at Excelsior, joined the company’s board of directors in February 1999. Philip Black, a managing partner at ABS Ventures, followed in May 1999. – Selected Financial

(in thousands, except per share data)

August 9, 1996 Year Ended Nine Months Ended

(inception) December 31 September 30

to December 31, 1996 1997 1998 1998 1999

Total revenue 67 56 26 5,979

Net loss -35 -479,100 -1,947 -1,343 -14,453

Net loss per share -0.04 -0.19 -0.64 -0.44 -4.59