To: puborectalis who wrote (43626 ) 12/12/1999 5:35:00 AM From: puborectalis Respond to of 108040
ANDN will be a hot issue going into 2000. Another Linux firm also had its share of press during the week. Andover.net, a Mass.-based firm that provides online tools and news for software developers and web site designers debuted through the OpenIPO system created by Wall Street sage Bill Hambrecht at his new firm called W.R. Hambrecht. A slightly different play on Linux here because Andover.net operates a slew of content sites and depends upon advertising as a key contributor to revenues. With the OpenIPO system still developing into a winning operation, investors typically following IPOs were amazed by the sizable pop experienced by Andover.net, the third Dutch auction this year. Considering the first two auctions were pilots for the program, everyone was anxiously anticipating the first true Internet deal completing an IPO through the new innovative method of underwriting. Andover.net actually ended up with two prices, one was the clearing price ($24) while the second was the real offering price ($18). The clearing price is the tabulation of all auction bids as totaled by W.R. Hambrecht. However, if the clearing price is higher than the stated offering range (in this case the range was hiked to $15-$18, up from an initial target of $12-$15), the company can elect to set its own offering price, which Andover.net did. Andover.net, formed in May 1992 didn't commence Internet operations until March 1997, owns and operates a network of ten web sites that include Slashdot.org, Freshmeat.net and Mediabuilder.com that provide news, user forums, software that can be downloaded, among other pertinent features. You may ask what the Linux connection is. Simply, all of the components to Andover.net's network are based on Linux and more specifically, on Open Source. Open Source is an approach to the development, testing and modification of software that has emerged as an alternative to traditional software development. Open Source is easy to modify and can be accessed for free or under $100.