San Francisco
Went public 8/16/2000 at $10 per share
Filing Range: 8.5 mil. share @ $10 to $12
Shares Outstanding: 105.4 mil. shares
Underwriters: Chase H&Q/Robertson Stephens International Ltd./J.P.
Morgan & Co. Inc. Prudential Volpe
Technology Group
Company Counsel: Wilson Sonsini Goodrich & Rosati
Manager Counsel: Sullivan & Cromwell
Auditor: Pricewaterhouse Coopers LLP
The Company:
Provides three-year membership at $24.95 a month, and in return, customers receive a name-brand computer (replaced every three years) with warranty, Internet access and access to its buyer’s club, which offers discounts for other businesses.
Venture Backers:
Ford Motor Co.
SOFTBANK Venture Capital
Nexus Group LLC
Maveron LLC
Granite Ventures LLC
Hambrecht & Quist
Redwood Venture Partners LLC
Financing Rounds:
Number of Round Amt.
Round # Round Date Stage Investors ($ thousands)
1 05/12/1999 2 Early Stage 3000.0
2 11/01/1999 4 Expansion 65000.0
3 04/10/2000 5 Expansion 49670.0
Financials:
(Data in $ millions)
Y/E
12/31/99
Total Revenues: $4.7
Net Income: -64.3