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Technology Stocks : AUTOHOME, Inc -- Ignore unavailable to you. Want to Upgrade?

To: Richie who wrote (17775)	12/9/1999 9:42:00 PM
From: Killian	Read Replies (2) \| Respond to of 29970

ATHMers! Feast your eyes on this internal memo out today! Here is how GB and TJ further addressed the issue through an internal memo today: 1. AT&T, nor any of the cable partners, will break exclusivity. Everyone is committed to honoring the deal. 2. AT&T and others have always said they want third party ISPs to run over their cable lines post exclusivity. This is not new. In fact, @Home's business model was always built on this expectation. But, if we can achieve 8-10M subs, by the end of 2002, we will have a tremendous franchise. Recognize that we get lots of freedoms back at that point too -- we can use other platforms to deliver our services post exclusivity, and no one will have the expertise, or the experience with scale, that we do. 3. No deal will be done with Mindspring or any other third party ISP without our consultation. Given that the cable operators will own a large chunk of ATHM at the time the exclusives expire, they will have a very big incentive to renew deals with our platform, and they have no interest, from a practical perspective, in starting over again. CEO Armstrong himself said at the AT&T analyst meeting, "AT&T has never worked better with our partners at ATHM." Just two weeks ago, in the tracker press release, Armstrong stated ?our relationship with Excite@Home has been very positive for AT&T and will continue to have strong, durable, and robust relationship under our contract and beyond.? 4. AT&T announced that a customized edition of Excite's personal portal content will be a key component to their wireless strategy. So, we're getting more things done with AT&T, not less. A number of analysts who were free to write about us, had the following to say: ?We continue to believe that ATHM shares represent one of the most compelling and undervalued opportunities for Internet-oriented investors today.? ?We remind investors that ATHM's combination of broadband access, content (EXCITE), commerce and community should enjoy a substantial head-start in brand-establishment, and market-share capture.? ?Building a large network is only one component - providing and supporting services over these environments is an entirely different capability. We do not believe the competitors nor Wall Street fully understand the considerable barrier-to-entry that these technical and marketing experiences provide ATHM.? ?AT&T's efforts to further capture and develop their wireless (PCS) presence should bode well for ATHM. We believe that these efforts simply reinforce our belief that ATHM shares, today, are highly undervalued.? ?We believe ATHM would by then have had a considerable head start in the cable access market, allowing them to build a substantial lead in customers and technology. ATHM today announced their one millionth subscriber, and we project subs to grow to 2.6 mm in 2000 and 5.3 mm in 2001.? ?We expect ATHM shares could enjoy sudden acceleration as the market comes to appreciate the use and value of the ATHM asset base.? So next week, you will see the key analysts unrestricted in their comments. Also, we will be organizing key investor meetings to speak with the institutions that are larger, longer term holders of our stock, especially since our debt offering was so well received, and over-subscribed. -------------------------------------------------------------------------------- Taken from: quicken.excite.com --------------------------------------------------------------------------------