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Technology Stocks : WavePhore (WAVO)- VBI fed WaveTop for WebTV

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To: Shadow who wrote (2807)	9/1/1999 8:10:00 PM
From: Shadow	of 2843

A rumor from the Yahoo board. True or False???? I don't know Earlier this afternoon I heard the word on the street from a reliable source. Rumours are circulating that the reason for the recent rise in Wavo's stock price and its volume is that Wavo will be spinning off Jamcast as an IPO very shortly. Apparently DLJ as well a few other underwriters are involved in the IPO. From the details I was given, Wavo will maintain majority ownership of Jamcast and a few major content providers will also have a stake in it. The IPO will provide a tremendous amount of needed capital for Wavo's future growth. According to this source, although its still too early to say, the proposed IPO could be in the 12-14$ range. Although my source is very reliable, he did mention that these are only the rumours on the street and no one can confirm it for certain at the present time. So for the time being, treat it as such. It does however, seem to make a great deal of sense. I will post any further information as soon as I have any. I also did some checking to see what IPO's of music sites have come out recently and was suprised to see the Market caps on some of these companies with almost no revenue. biz.yahoo.com Mp3.com(MPPP)who IPO'd last month is at 35$/shr with a market cap of 2.2 Billion presently. About Mp3.com FINANCE redherring.com Went public on July 20. Revenues for first quarter 1999 were $665,785; net loss for the quarter was $1.4 million. Does not have a projection for when it will become profitable. Raised a first round $11 million in January of this year from Sequoia Capital and Idealab. Raised a second round of $45 million in June from CIMedia, a subsidiary of Cox Enterprises. Total capital raised: $56 million. CEO previously founded and was CEO of The Z Company. Liquid.com (LQID)is at $28 an has a market cap of 524 Million. Musicmaker.com (HITS) is at 12$ and has a market cap of 355.7 million. Looks like this can be very lucrative for WAVO. Regards Scott

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