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To: gladman who wrote (86586)	12/8/1999 12:18:00 AM
From: KeepItSimple	Read Replies (3) \| Respond to of 164685

>>FREEMARKETS INC (FMKT) increased its price from $14-$16 to $40-$42<< I heard a few hours ago that VA Linux is raising the price from the already raised $22, to a jaw popping $55. Of course, shares to VCs still cost around 1/10th of a cent each, as always.

To: gladman who wrote (86586)	12/8/1999 7:55:00 AM
From: H James Morris	Respond to of 164685

Dave, does this mean that Freemarkets is no longer our secret?Lol With only 3.6 going into the float, I'm surprised they didn't price it higher than Yhoo. << Washington, Dec. 7 (Bloomberg) -- FreeMarkets Inc. nearly tripled the price for common stock that the online auction company plans to sell through an initial public offering this month. Pittsburgh-based FreeMarkets, which runs an Internet auction site for businesses, said today it would sell 3.6 million shares at $40 to $42 each, raising as much as $151 million before expenses. As recently as mid-November, FreeMarkets had estimated the sale price would be just $14 to $16 a share. The increase in the estimated offering price reflects the premium Wall Street is now willing to pay for companies such as FreeMarkets whose services are geared to electronic commerce between businesses. Many investors believe that such businesses have an even larger market to tap than those who engage in e- commerce with consumers. ``There is insatiable demand for business-to-business e- commerce names in terms of IPOs,' said Bala Srinivasa, an analyst at the brokerage Pacific Growth Equities. ``All these companies are just getting tremendous valuations because there is tremendous opportunity there.' FreeMarkets started one of the first business-to-business Internet auctions, where it says clients such as General Motors Corp. and United Technologies Corp. save money by setting up competitive online bids among vendors seeking to sell parts, services or materials. The company expects to have 33.9 million shares outstanding after the IPO. Multiplying that number of shares by the top share- price estimate of $42 implies that the company's initial market value will be as much as $1.4 billion. Underwriters for the stock sale will include Goldman, Sachs & Co.; Morgan Stanley Dean Witter; and Donaldson, Lufkin & Jenrette. Wit Capital Corp. will also help market the shares. Dec/07/1999 17:08