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Technology Stocks : Ariba Technologies (Nasdaq-ARBA) -- Ignore unavailable to you. Want to Upgrade?

To: Rick McDougall who wrote (121)	6/24/1999 10:35:00 AM
From: William F. Wager, Jr.	Read Replies (1) \| Respond to of 2110

The Wall Street Journal -- June 24, 1999 Technology Journal: Price of Ariba's Stock Almost Quadruples On First Trading Day SUNNYVALE, Calif. -- Ariba Inc., which helps big companies manage their procurement over the Internet, made a sizzling stock-market debut, more than tripling in price in its first day of trading. Ariba, founded in 1996, rose $67 a share to $90, in hectic Nasdaq Stock Market trading of more than 11 million shares. At the closing price, the entire company has a value of $3.7 billion. Underwriters were led by Morgan Stanley & Co. "Ariba is targeting a very hot market right now: business-to-business electronic commerce," said Paul Fleming, a securities analyst at Renaissance Capital Corp. In its prospectus, Ariba cites forecasts by International Data Corp. that corporate clients will spend $8.5 billion on Internet-based procurement in 2003. Ariba's clients include Chevron Corp., Cisco Systems Inc. and Hewlett-Packard Co. For the six months ended March 31, Ariba posted revenue of $16.3 million and an $8.1 million loss. Analysts don't see profits for at least another year or two. Nonetheless, at yesterday's closing prices, Ariba has created vast paper wealth for its major shareholders. The company's 42-year-old chief executive officer, Keith Krach, owns 12.3% of the company, valued yesterday at $473 million. Benchmark Capital, a Menlo Park, Calif., venture-capital firm, owns 15.2% of the company, valued at $583 million. And Crosspoint Venture Partners, another Menlo Park venture firm, owns 12.4% of Ariba, valued at $479 million. ********************************************************************* How you been Rick? Exodus forever... --Bill