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Technology Stocks : RRRR: Rare Medium Group (soon to be) formerly ICC -- Ignore unavailable to you. Want to Upgrade?

To: ztect who wrote (975)	1/26/2000 5:29:00 PM
From: Mary Baker	Read Replies (1) \| Respond to of 1150

I don't want to rain on my own parade...re: L90... but Doubleclick has a lawsuit going against this company. I have conditional offers at WIT Capital in two separate accounts in hopes of receiving IPO shares. Just thought everyone should have complete information concerning L90 (partially owned by RRRR)! ------------------------------------------------------ NEW YORK, Jan 26 (Reuters) - L90 Inc. will draw investors eager to land a piece of the mushrooming Internet advertising arena, but analysts caution the California firm faces stiff rivalry as well as a daunting lawsuit from one of its competitors. L90 plans to offer 6 million shares at an anticipated price range of $10 to $12 with underwriters SG Cowen, Banc of America Securities, CIBC World Markets and Wit Capital Corp. The company, which provides Internet-based advertising and direct marketing services, is scheduled to begin trading on Friday under the symbol "LNTY" on the Nasdaq. Santa Monica-based L90 designs and implements advertising campaigns for advertising clients and places their ads on its network of Web sites. The company provides Web publishers belonging to the network with services including the sale of advertising space on their Web site as well as the technology required to deliver advertisements to their site. "I think L90 is going to do well," said Kenan Pollack, money editor at Hoover's Online. "DoubleClick and Flycast are companies out there that have done quite well. There is interest in the advertising and marketing area. It's a lucrative business." Indeed, the Web marketing business has already attracted such Wall Street darlings as 24/7 Media Inc. (NASDAQ: TFSM) and Engage Technologies Inc. (NASDAQ: ENGA) and DoubleClick Inc. (NASDAQ: DCLK), which filed a patent infringement lawsuit against L90. All three of the Internet advertising companies are trading near 12-month highs. "L90 will have to prove that it's worthy of the same multiple and show it has as much promise because the market is giving the others a leaders' premium," said Randall Roth, an analyst at Renaissance Capital's IPO Plus Aftermarket Fund (NASDAQ: IPOSX). L90, which has been operating its business since Jan. 1997, posted net losses of about $4.5 million for the nine months ended Sept. 30 and $290,000 for the year ended Dec. 31, 1998. The company said in its filing with the Securities and Exchange Commission that it expects to continue to post substantial losses in the foreseeable future. L90 also faces a patent infringement lawsuit filed by DoubleClick in the U.S. District Court for the Eastern District of Virginia. L90 said the suit alleges it is infringing on a patent held by DoubleClick related to certain advertising methods. "This litigation can be expected to result in significant expenses to us and the diversion of management time and other resources, the extent of which cannot be quantified with any reasonable accuracy given the early stage of this litigation," L90 said in its filing.