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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: jmac who wrote (61043)	1/9/2000 2:33:00 PM
From: Nick	Read Replies (1) \| Respond to of 152472

I'm sort of new to the thread, so excuse the ignorance if this has already been discussed. But in this article I found on CNET, they discuss the company Wireless Knowledge (a 50-50 QCOM-MSFT owned company). Is this company public? Going public? If anyone has any info, it would be appreciated. Thanks. Nick I3 Mobile, Wireless News Messager, Files for $65 Million IPO 1/7/00 3:44:00 PM Source: Bloomberg News Washington, Jan. 7 (Bloomberg) -- I3 Mobile Inc., a company that transmits news and stock headlines to wireless telephones and pagers, filed for an $65 million initial stock sale. The Stamford, Connecticut-based company has 100,000 individual subscribers and service agreements with telecommunications companies such as Vodafone AirTouch Plc.'s cellular provider AirTouch Cellular and AT&T Wireless Services Inc., according to a S-1 filing with the Securities and Exchange Commission. New York-based BG Media Investors L.P., holds a 28.2 percent stake and MCI WorldCom Inc. holds a 6.4 percent stake in i3 Mobile before the offering, according to the filing. The Connecticut company offers customized Web services such as stock updates, weather, sports, news, entertainment and traffic data, on both one-way and interactive basis, and has personal e-mail calendar and e-commerce abilities, according to the filing. Through its relationships with 1-800-Flowers.com Inc. and Vermont Teddy Bear Co. Inc., i3 Mobile users can set up reminders for birthdays through the Internet. An alert message prior to the event provides details, gift suggestions and a special toll-free number to call to make arrangements. I3 Mobile then gets a portion of the revenues from the e-commerce transaction. The company makes most of its money through subscription fees and advertising, according to the filing. Data Subscribers The number of wireless data subscribers will grow to about 36 million in 2003 from 3 million last year, creating a market with $3 billion in revenue, according to data cited in the i3 Mobile filing. ``It is an open field for wireless data applications,' said Walter Piecyk, an analyst with PaineWebber Inc. ``You're going to see an explosion of wireless data companies, thanks to the takeoff of the Internet.' I3 Mobile reported a net loss of $4.2 million on revenue of $1.3 million for the nine months ending Sept. 30, compared with a loss of $2.2 million on revenue of $1 million during the corresponding period last year, according to the filing. The company faces a strong challenge from Wireless Knowledge, a 50-50 joint venture formed by Microsoft Corp. and Qualcomm Inc. in 1998. That venture, which lets companies connect to the Internet and their own business networks from digital phones and other computers, providers the services to wireless carriers such as BellSouth Corp. and GTE Corp. Piecyk said that i3 Mobile also would face stiff competition from Metricom Inc., which manufactures the Ricochet allowing users of portable computers to access the Internet. Use of Proceeds I3 said it would use proceeds of the stock sale for general corporate purposes, which could include working capital, sales and marketing expansion, and repayment of debts. The company said it may use some of the proceeds to acquire other businesses, though it has no specific plans at present. The company didn't list a price for its shares or set a total number of shares to be sold to the public. That's usually revealed in a subsequent filing. Stephen Maloney, 42, i3 Mobile president and chief executive, and Robert Unnold, 52, who was a general manager for Bell South Mobilecomm in New York, founded the company in 1991. Maloney holds an 8.7 percent stake and Unnold holds a 12.7 percent stake, before the offering. The company hired Deutsche Banc Alex. Brown and Credit Suisse First Boston to underwrite the stock sale. The company wants to trade on the Nasdaq Stock Market under the symbol IIIM.