STAMFORD, Conn. – @plan.inc, a provider of online market research software, filed to go public May 20, offering 2.5 million shares at $14 apiece and hitting the top of the company’s $12 to $14 filing range.
Richland Partners L.P., Massey Burch Capital Corp., Blue Chip Venture Co. and Miami Valley Venture Fund L.P. were venture investors.
Underwriters included Hambrecht & Quist, Bear, Stearns & Co. Inc. and First Union Capital Markets Corp. There were no selling shareholders.
Founded in May 1996, @plan provides online market research software for companies that advertise on the Internet, advertising agencies and Web publishers. The company offers databases of customer lifestyle, product preference and consumer demographics collected through its partnership with The Gallup Organization. Customers include TicketMaster Online, Time Inc. and CBS MarketWatch.
Proceeds from the offering, worth an estimated $35 million, will be used for general corporate purposes. The company has not paid any cash dividends and does not expect to in the foreseeable future.
Donald Johnston, president of Massey Burch, and Patrick Ortale, general partner of Richland, joined the company’s board of directors in 1996, followed by John Wyant, managing partner and president of Blue Chip, in 1998. Roger Thomson, managing director of Donaldson, Lufkin & Jenrette Securities Corp., became a director this year.
@plan – Selected Financial
(in thousands, except per share data )
May 29, 1996
(Inception) through Year Ended December 31, Three Months Ended March 31 (unaudited),
December 31, 1996 1997 1998 1998 1999
Revenue 442 3108 469 1,337
Net loss -678 -2,894 -2,049 -367 -342
Net loss per share -0.73 -3.13 -2.07 -0.41 -0.38