Another new emailer IPO. Unlike NTCR, it loses money:
11/19/99 Reuters Eng. News Serv. 14:23:00
Reuters English News Service
C) Reuters Limited 1999.
Friday, November 19, 1999
USA: Exactis.com more than doubles in market debut.
NEW YORK, Nov 19 (Reuters) - Shares of e-mail marketer Exactis.com Inc. more
than doubled in their market debut on Friday after the company raised $53.2
million in its initial public stock offering.
Shares of the Denver-based company were up 15-1/8 to 29-1/8 in afternoon trade
on the Nasdaq stock market.
"I like it; it's a great company," said analyst Jeff Hirschkorn at IPO.com.
"MSNBC represents 18 percent of their sales, and established clients get a lot
of attention in this marketplace."
Exactis, which allows customers to send out large numbers of e-mail messages,
is following the recent IPOs of competitors Netcentives Inc. and NetCreations
Inc. . Both are trading above their original pricing levels.
In its IPO, Exactis offered 3.8 million shares at $14 each through lead
underwriter Thomas Weisel.
Forrester Research estimates that three billion solicited commercial e-mails
were sent during 1997 and predicts that 250 billion will be sent in 2002 for
both consumer and business e-mail users.
"As an alternative to banner ads, companies can utilize (e-mail advertisers)
to retouch consumers and drive retail sales," said Michele Slack, an analyst
at Jupiter Communications.
Competition in the industry has intensified dramatically in the last 12
months. "A year ago, there were only four or five major players, where now you
see 10 to 12 to 14 companies competing head-on," said Slack.
Exactis had $7.3 million in revenues for the nine months ended Sept. 30, and a
net loss of $6.4 million. It now has 12 million shares outstanding. ((-Brian
Kelleher, New York Newsdesk, (212)859-1588)).
---- INDEX REFERENCES ----
COMPANY (TICKER): XACT (XACT)
KEY WORDS: BUSINESS-PUBLIC SERVICES; HOT STOCKS; INITIAL PUBLIC
OFFERING; NEW ISSUES; STOCK MARKETS; UNITED STATES; SHARE
CAPITAL; COMPANIES & INDUSTRIES; FUNDING-CAPITAL;
APPLICATIONS SOFTWARE; COMPUTER SYSTEMS AND SOFTWARE;
DATACOMMUNICATIONS AND NETWORKING; METAL GOODS AND
ENGINEERING; DIRECT MARKETING; FINANCIAL, BUSINESS AND OTHER
SERVICES
NEWS SUBJECT: Stock Market News (STK)
INDUSTRY: Software; Computers; Communications Technology; Advertising
(SOF CPR CMT ADV)
REGION: North America; United States (NME US)
Word Count: 257 |
