LAUN with Market Outperform
Online Music Site Projected to Nearly Double Revenues in 2000
SAN FRANCISCO, March 3 /PRNewswire/ -- The following is being issued by WR
Hambrecht + Co, a member of the National Association of Securities Dealers,
CRD number 45040:
WR Hambrecht + Co, the online investment bank, today initiated research
coverage of Launch Media (Nasdaq: LAUN) with a Market Outperform, the firm's
highest rating. In his report, eMedia analyst Steve Jang cited Launch's
rapidly growing customer base, attractive relative valuation and clear
audience-focused strategy as key reasons for the rating. WR Hambrecht + Co
offers its research reports free and real-time at www.wrhambrecht.com.
"We believe Launch Media's consumer-focused, technology-agnostic strategy
is a winner in the online music space. Launch Media could become the MTV of
the Internet and its shares represent an attractive investment opportunity at
current price levels," Jang said.
Jang projects Launch's total revenues will reach $30.6 million in 2000,
nearly doubling the firm's 1999 revenue of $16.6 million.
Launch Media, Inc. is a digital media company focused on creating the
premier destination for promoting and discovering new music. The Company
creates music content available in an interactive format that enables music
buyers to explore new music from new and established artists.
About WR Hambrecht + Co
WR Hambrecht + Co is an online investment bank founded by Silicon Valley
pioneer Bill Hambrecht. The company is dedicated to leveling the playing field
for investors by using technology to provide transparency in capital markets.
The firm leverages its expertise in the technology arena to find early
investing opportunities for its clients. WR Hambrecht +Co is active in
investment banking, electronic brokerage services, private equity, mergers and
acquisitions advisory services, research, trading and electronic underwriting
through itsOpenIPO system.
SOURCE WR Hambrecht + Co
-0- 03/03/2000
/CONTACT: David Eckstein of WR Hambrecht + Co, 415-551-3128 or
deckstein@wrhambrecht.com/
/Web site: wrhambrecht.com
(LAUN)
CO: WR Hambrecht + Co; Launch Media, Inc.
ST: California
IN: MLM FIN ENT
SU:
JO
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