TheStreet.com, After Investment By New York Times, Plans an IPO
By TERZAH EWING
Staff Reporter of THE WALL STREET JOURNAL
interactive.wsj.com
The Internet financial-news provider TheStreet.com, joining other firms that have mined the public markets for Internet gold, said it plans an initial public offering valued at around $75 million.
The news of the IPO came just a day after New York Times Co. said it will pay $15 million in cash and services to acquire a minority stake in the Web site. New York Times also said its vice chairman, Michael Golden, was nominated to serve on TheStreet.com's board.
Analysts said they expect the IPO to be a hit for TheStreet.com, despite several pages of risk factors outlined in the registration statement, which also said the company had a net loss of $16.3 million for 1998, on $4.6 million in revenue. "It's a well-known site in the investment community ... . And there's the New York Times partnership," said Stephen Tekirian, an analyst focusing on small-cap and midcap stocks at Standard & Poor's in New York. |
