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Technology Stocks : divine interVentures, Inc. (DVIN) -- Ignore unavailable to you. Want to Upgrade?

To: astyanax who wrote (92)	4/30/2000 11:12:00 AM
From: Glenn Petersen	Respond to of 246

A picture of Flip takes up two-thirds of the front page of the Chicago Sun Times this morning. "Terry Savage talks Money with "Flip" Filipowski": suntimes.com

To: astyanax who wrote (92)	6/5/2000 6:03:00 PM
From: Glenn Petersen	Respond to of 246

Compliments of The May Report: Divine InterVentures / IPO 2: R. Stephens Now Leading IPO by Raymond Hennessey 11:51 ET Dow Jones News Service (Copyright (c) 2000, Dow Jones & Company, Inc.) NEW YORK (Dow Jones) -- As expected, divine interVentures Inc., the Chicago Internet incubator, restructured its initial public offering, switching underwriters and changing the terms of the deal. In a filing Monday with the Securities and Exchange Commission, divine interVentures confirmed that it changed lead underwriters to Robertson Stephens over previous lead Credit Suisse First Boston Corp. (Z.CSF). The move in underwriters was expected for two weeks after the company's head, charismatic venture-capitalist Andrew "Flip" Filipowski, sent an e-mail to company employees outlining some changes in the IPO. Bankers at Credit Suisse were apparently trying to urge Filipowksi to put off the offering, given that many other new issues have faltered in the current market climate. But Filipowski wanted the deal to go forward, according to sources within the company, and chose Robertson Stephens, a unit of FleetBoston Financial Corp. (FBF), apparently because a former Credit Suisse banker with whom he had a strong relationship, Cameron Lester, left Credit Suisse earlier this year. The rest of the underwriting team, including Donaldson Lufkin & Jenrette Securities Corp., Bear Stearns & Co., William Blair & Co. and DLJDirect Inc., remained in place. The number of shares offered in the IPO was slashed to just under 14.3 million, from 20 million, while price talk rose to between $13 to $15 a share, from just $6 to $8. The new filing gives divine interVentures's IPO a prepricing valuation of $200 million, as opposed to the previous IPO value of $140 million.

To: astyanax who wrote (92)	7/16/2000 10:24:38 AM
From: Glenn Petersen	Respond to of 246

Good article in today's Chicago Tribune about DVIN's relative importance to the rest of the tech sector in Chicago: chicagotribune.com Divine faces danger of getting left behind The area's dot-com scene is vibrant, and it's now clear that the fortunes of 'Flip' Filipowski and Chicago's future as a tech haven are not as intertwined as some have supposed.

To: astyanax who wrote (92)	8/18/2000 4:47:16 PM
From: Glenn Petersen	Read Replies (1) \| Respond to of 246

From today's Chicago Sun Times: suntimes.com Despite loss, divine says future bright August 18, 2000 BY JESSICA MADORE FITCH BUSINESS REPORTER In its first public statement since going public in July, divine interVentures inc. was predictably upbeat about the future, although the company's financial results were far less sunny. Revenue more than doubled last quarter, but divine's net loss nearly doubled as well. The Lisle-based Internet incubator reported a loss of $75.4 million in the second quarter, compared with a $44.2 million loss in the first quarter. Revenue rose to $12.1 million, up from $5.2 million. Divine's consolidated financial results, however, only include 26 of its 52 associated companies, and therefore don't reflect the breadth of its financial position. In lieu of this, divine offered unaudited aggregate revenue for its 52 associated companies: $60.7 million in the second quarter, a 54 percent increase over $39.3 million in the first quarter. During a conference call Thursday, founder Andrew J. "Flip" Filipowski reminded the audience that divine is still a very young company, having recently celebrated its first birthday. "We're pleased with the progress of the companies in our portfolio and proud of our people's efforts to create value by working in concert," Filipowski said. Mike Cullinane, divine's chief financial officer, said divine is burning through $3 million each month and has about $327 million in cash and securities on hand. "Things look better than I expected," said George Nichols, an analyst at Morningstar, the Chicago-based financial information company. But in light of the finicky public market, Filipowski has become more conservative about divine's investments. In the first quarter of the year, divine spent $200.6 million of $247.3 million of deployed capital on new investments. But in the past three months, divine spent just $76.7 million of $324 million in deployed capital on new investments. "They are investing more of their money in their current portfolio companies, rather than bringing new companies into the fold," Nichols said. "They need to nurture their own companies, rather than stretch themselves even thinner." Shareholders boosted shares of divine before the earnings announcement. The stock finished Thursday up 53 cents at $7.50, still below the $9 IPO price and its high of $12.43 3/4.