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Technology Stocks : Information Architects (IARC): E-Commerce & EIP -- Ignore unavailable to you. Want to Upgrade?

To: Probity who wrote (10314)	10/9/1999 1:10:00 PM
From: Probity	Read Replies (1) \| Respond to of 10786

Friday October 8, 3:32 pm Eastern Time Web manager Interwoven's shares jump 140 pct in debut NEW YORK, Oct 8 (Reuters) - Shares of web content manager Interwoven Inc. (NasdaqNM:IWOV - news) jumped about 140 percent on Friday after the company's initial public offering, priced at $17 a share. In its first day of trade, shares of Interwoven were last up $24.25 to $41.25 on the Nasdaq with 3.89 million shares traded. The deal, which raised $53.6 million, priced 3.15 million shares above its upwardly revised price range. The company had originally expected its IPO price to range from $10-$12 per share. The offering represented 14.6 percent of the company's outstanding shares. Credit Suisse First Boston was the lead underwriter. For the six months ended June 30, Interwoven posted total revenues of $5 million and a net loss of $6.2 million, the Sunnyvale-Calif.-based company said in its prospectus. Association with web content manager Vignette Corp. (NasdaqNM:VIGN - news) has helped Interwoven's reception, said one analyst. ``It's zooming in from left field. There is a growing view that it is a match for Vignette,' Irv DeGraw, research director at WorldFinanceNet.com, said about Interwoven. However, he warned that the market is not that large and Vignette is a dominant player. Vignette claims over 290 corporations as clients. Interwoven's software products are used by General Electric Co. (NYSE:GE - news), the U.S. Department of Education and Yahoo! Inc. (NasdaqNM:YHOO - news). As of Aug. 31, over 85 firms have licensed its products, which provide a platform to manage e-commerce, customers relations, supply chain and other business data. Research firm International Data Corporation estimates that spending on software applications and services for Internet commerce will grow to $53.8 billion in 2002 from $7.8 billion in 1998. The IA "excuse bag" is empty!