How high will Microsoft fly? Message Board

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Technology Stocks : How high will Microsoft fly?

MSFT 482.22

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12:42 PM EST

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To: Duane L. Olson who wrote (32884)	11/7/1999 11:44:00 PM
From: Jim Lamb	Read Replies (1) of 74651

EXPEDIA IPO this Thursday. Thought you guys might like a change of subject. Expedia Inc. (Proposed ticker: EXPE), Microsoft Corp.'s (Nasdaq: MSFT) online travel service site, will debut 5.2 million shares between $10 and $12 each, making for an initial public offering valued around $75 million. "It's going to be the number one travel site according to traffic," Kao said, looking at Media Metrix statistics that put it ahead of Preview Travel (Nasdaq: PTVL) and Cheap Tickets (Nasdaq: CTIX) with 4 million unique users. Competition in this space is extremely tight though, following the merger of Preview Travel and Sabre Holdings' Travelocity site. Goldman Sachs and Morgan Stanley Dean Witter will co-manage the offering, expected to debut November 11. Though Expedia will become a separate company, Microsoft Corp. (Nasdaq: MSFT) will remain as its majority owner and Expedia will continue to provide travel services on the Microsoft Network. Microsoft has said it doesn't intend to put more money into Expedia though, Kao said. Expedia, which reported a loss of $29.5 million on sales of $13.8 million in fiscal 1998, provides online travel services for leisure and small business travelers. With more than 7 million registered users in August, Expedia will be stiff competition for Priceline.com Inc. (Nasdaq: PCLN) among others.

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