Wit Capital - The way of the future? Message Board

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Non-Tech : Wit Capital - The way of the future?

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To: AmericanVoter who wrote (1472)	4/20/1999 3:58:00 PM
From: Keith J	Read Replies (1) of 16809

EToys Inc. postpones IPO due to merger - underwriter NEW YORK, April 20 (Reuters) - Online toy retailer eToys Inc. has postponed its initial public offering due to its proposed merger with Internet firm BabyCenter Inc., lead underwriter Goldman Sachs said Tuesday. The Santa Monica, Calif.-based company had been scheduled to offer 8.2 million shares in an expected price range of $10 to $12 next week. EToys announced Monday that it had agreed to buy privately held BabyCenter Monday for stock, creating a company in which San Francisco-based BabyCenter would own about 15 percent of the stock. The merger was expected to be completed by the end of the second calendar quarter. The exact amount of the deal was not disclosed. BabyCenter, a start-up, entered the e-commerce arena in October. The company delivers baby products, including toys and diapers, to homes. Its revenue is fueled mainly by advertising revenue. The company has alliances with blue-chip firms such as Johnson & Johnson Inc. (JNJ - news) and Procter & Gamble (PG - news).

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