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Technology Stocks : Ask Jeeves,Inc-(Nasdaq-ASKJ)
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To: Mohan Marette who wrote (25)6/28/1999 5:22:00 PM
From: Wolverine  Read Replies (1) of 838
 
ASKJ from from Briefing.com

Timing has proven to be more important that quality when bringing an Internet IPO to market. While Internet search engine Ask Jeeves is one of the more attractive deals to emerge from the IPO pipeline in several weeks, the stock will be forced to compete for attention with the approximately 25 other offerings schedule to price this week... The Berkeley, CA-based "question answering service" allows users to ask a question in plain English and receive a response directing them to relevant Internet destinations that provide the answers. In April, Ask Jeeves answered nearly 1 million questions per day and had a user base of more than 2 mln. The company also designs "question answering services" for corporations. Dell Computer has licensed ASKJ's software to create a technical support service, dubbed "Ask Dudley." Ask Jeeves has also begun to implement a referral compensation model, whereby the company receives compensation for directing traffic to e-commerce sites... In 1998, AltaVista (which is owned by Compaq Computer) was the company's largest customer, accounting for approx. 14% of total revenue. As part of it relationship with Ask Jeeves, Compaq Computer holds a seat on the board and a 12% stake in the company, making it ASKJ's largest shareholder... The IPO will be underwritten by Morgan Stanley Dean Witter. Ask Jeeves is currently planning to sell 3 mln shares at $9 to $11 each.
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