Martha Stewart Living Omnimedia Inc. –

NEW YORK – Martha Stewart Living Omnimedia Inc., a provider of household products and services, went public October 19, offering 7.2 million shares at $18 apiece, the top of its $16 to $18 filing range.

Underwritten by Morgan Stanley Dean Witter, Merrill Lynch & Co., Bear, Stearns & Co. Inc., Donaldson, Lufkin & Jenrette and Bank of America Securities L.L.C., the offering left 48.5 million shares outstanding.

Venture backers included Time Inc. and Kleiner Perkins Caufield & Byers. There were no selling shareholders.

The company aims to offer its customers a wide range of how-to’ products, services and resources through its publications, stores, radio and television programs and the Internet. Products and resources are designed to stimulate the “do-it-yourself” trend launched by lifestyle mogul Martha Stewart.

Martha Stewart Living intends to use $41.8 million of the $118.5 million in proceeds expected from the IPO to purchase Class A common stock held by Time Publishing Ventures. The remainder of the proceeds is to be used for general corporate purposes.

Martha Stewart Living earned $13.9 million in 1997 in and $23.8 million in 1998.

L. John Doerr, a general partner at Kleiner Perkins, joined the company’s board of directors in July.


Martha Stewart Living Omnimedia – Selected Financial

(in thousands, except per share data)

Year Ended December 31, Six Months Ended June 30,

1997 1998 1998 1999

Total revenue 132,821 180,048 86,253 111,502

Net income 13,929 23,806 13,188 14,166