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


(Data in $ millions)



Total Revenues: $4.7

Net Income: -64.3