NetGravity Share Price May Drop on Lost Clients, Forbes Says
San Mateo, California, May 16 (Bloomberg) -- Shares of NetGravity Inc., an Internet advertising-software vendor whose stock has more than doubled since it went public at $10 last year, may soon drop because the company is losing customers to its competition, Forbes said in ''Streetwalker.'' DoubleClick Inc. has taken such NetGravity clients as Ivillage Inc., and 55 of NetGravity's 360 clients are negotiating an agreement with MiningCo.com Inc. NetGravity Chief Technology Officer Thomas Shields recently left and cofounder John Danner has sold 300,000 shares so far this year, Forbes said.
Last month, San Mateo, California-based NetGravity named Eric W. Spivey as its new chief executive officer.
(Forbes 5/31 272 www.forbes.com)
May/16/ 99 20:56
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