ASKJ. . . . 25 mil shares common outstanding. . . .
July 01, 1999 11:53
ASK JEEVES INC files post effective amendment.
Excerpted from POS AM filed on 07/01 by ASK JEEVES INC:
ASK JEEVES INC files post effective amendment.
(End of Item Excerpt)
You should rely only on the information contained in this prospectus. We have not authorized anyone to provide you with information different from that contained in this prospectus. We are offering to sell, and seeking offers to buy, shares of common stock only in jurisdictions where offers and sales are permitted. The information contained in this prospectus is accurate only as to
the date of this prospectus, regardless of the time of delivery of the
prospectus or of any sale of the common stock.
Unless otherwise indicated, all information in this prospectus:
-- has been adjusted to give effect to a 1-for-2 reverse stock split to be completed prior to this offering;
-- gives effect to the conversion of all outstanding shares of preferred stock into shares of common stock, which will become effective upon the closing of this offering;
-- assumes no exercise of the underwriters' over-allotment option;
-- assumes no exercise of outstanding options and warrants to purchase shares of our common stock after April 30, 1999; and
-- assumes our reincorporation from California to Delaware.
UNTIL , 1999, 25 DAYS AFTER COMMENCEMENT OF THE OFFERING, ALL DEALERS THAT BUY, SELL OR TRADE SHARES, WHETHER OR NOT PARTICIPATING IN THIS OFFERING, MAY BE REQUIRED TO DELIVER A PROSPECTUS. THIS REQUIREMENT IS IN ADDITION TO THE DEALERS' OBLIGATION TO DELIVER A PROSPECTUS WHEN ACTING AS UNDERWRITERS AND WITH RESPECT TO THEIR UNSOLD ALLOTMENTS OR SUBSCRIPTIONS.
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[PAGE] 4
PROSPECTUS SUMMARY
You should read the following summary together with the more detailed information regarding our company and the common stock being sold in this offering and our financial statements and notes to our financial statements appearing elsewhere in this prospectus.
THE COMPANY
Ask Jeeves is a provider of natural-language question answering services on the Internet for consumers and companies, establishing a new way to interact with the World Wide Web. Ask Jeeves was first introduced to the public in April 1997 to provide Web users with a more satisfactory and productive experience by quickly directing users to relevant answers. Our mission is to humanize the Internet by making it easier and more intuitive for consumers to find the information, products and services they need, and for companies to better
acquire, retain and maximize the value of their online customers. Our branding strategy centers on the Jeeves character, a friendly and trusted assistant who provides help and guidance on the Web. The Ask Jeeves question answering services allow users ask a question in plain English and receive a response pointing the user to relevant Internet destinations that provide the answers. We believe that our question answering services make interaction with the Internet more intuitive, less frustrating and significantly more productive.
While the growth of the Internet has drawn users at an unprecedented pace, we believe it has become increasingly difficult for users to effectively navigate the growing volume of online information. To take full advantage of the Internet, users must be able to successfully navigate a network of dispersed Web sites, which are generally not connected in a logical fashion. In addition, once
at the Web site, users are faced with the difficulty of sorting through an overwhelming amount of information. Users currently rely on Internet search engines or directories to locate information and make online purchases. These methods typically require consumers to use keywords and construct complex search strings that often result in hundreds or thousands of matches. Given the magnitude of this problem, companies are recognizing the need to provide a means by which their customers and potential customers can more easily find relevant
information, products and services on company Web sites. We believe that consumers are frustrated with their online experience, and that companies are frustrated by their inability to maximize returns on their investments in Internet strategies. We further believe that this frustration will continue until navigation on the Internet improves.
Beginning with only 3,000 questions per day in our first month of
operation, Ask Jeeves answered nearly 1 million questions per day in April 1999, and the number of users has grown from 425,000 in September 1998 to more than 1.9 million in March 1999. Although we have experienced significant growth in questions asked per day, we have incurred significant net losses in each fiscal quarter since our inception, and as of March 31, 1999, we had an accumulated deficit of approximately $9.7 million. Ask Jeeves, at Ask.com, provides users
with relevant answers to a wide range of questions from "Is it raining in Paris?" to "Where can I comparison shop for cameras?" We believe that our ability to provide users with a more satisfactory and productive Web experience will allow us to connect users to providers of products and services in a more targeted way than other services on the Internet, thereby better unlocking the power of electronic commerce.
Our Corporate Question Answering Service helps companies provide a higher quality, human-like online interface for their customers and is designed to improve customer satisfaction on Web sites, increase the number of browsers on Web sites that become purchasers and reduce expensive support costs such as phone calls to call centers. Because we introduced our Corporate Question Answering Service in December 1998, our revenues from this service have not been material through March 31, 1999.
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We were incorporated in California in June 1996 and reincorporated in Delaware in June 1999. Our principal executive offices are located at 918 Parker Street, Berkeley, CA 94710, and our telephone number is (510) 649-8685. Our World Wide Web site address is Ask.com. The information in the Web site is not incorporated by reference into this prospectus.
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[PAGE] 5
THE OFFERING
Common stock offered.................. 3,000,000 shares
Common stock to be outstanding after
the offering.......................... 24,349,424 shares
Over-allotment option................. 450,000 shares
Use of proceeds....................... We intend to use the proceeds for the marketing and promotion of our brand and for other
general corporate
purposes, including
working capital. See
"Use of Proceeds."
Proposed Nasdaq National Market
symbol................................ ASKJ
The foregoing information is based upon shares outstanding as of April 30,
1999.
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