REPORT: POINTCAST IPO IS IMMINENT
redherring.com
By Red Herring Online Staff
May 6, 1998
PointCast is preparing to go public, News.com is
reporting.
There has been chatter for more than a year that the
push-media company is about to sell shares to the public,
but News.com, citing unnamed sources, says the
company, planning to take advantage of the currently hot
market for Internet stocks, will finally file its IPO
paperwork this month.
The company won't comment. In November, PointCast
hired David Dorman, formerly a senior vice president at
SBC Communications, as its chief executive officer. The
move was seen as a way for the company to gain
credibility on Wall Street in preparation for a public
offering.
PointCast is funded by Benchmark Capital, Merrill
Pickard Anderson Eyre, and Mohr Davidow Ventures,
as well as several media and technology companies
including Cendant, Gannett, Knight-Ridder, and
Compaq Computer. |
