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Technology Stocks : idealab! -- Ignore unavailable to you. Want to Upgrade?

To: Elmer who wrote (12)	10/19/2000 11:38:29 AM
From: Glenn Petersen	Read Replies (1) \| Respond to of 16

I hope that you never pulled the trigger on Hikari. Idealab has postponed their IPO. No big surprise. Timing is everything. news.cnet.com Net incubator Idealab stalls IPO plans By Scott Ard Staff Writer, CNET News.com October 18, 2000, 6:00 p.m. PT Venture capital firm Idealab has postponed its plans to sell shares to the public, the latest evidence that investor demand for such stocks has withered dramatically in the past six months. "Over the past several months, we have seen dramatic shifts in the market and determined that it is in the best interest of the company, its employees and investors that we not proceed with the offering during this volatile time," Idealab chief executive Bill Gross said in a statement. Founded in March 1996 by entrepreneur Gross, Idealab helps create and nurture Internet businesses. Among the publicly traded companies Idealab has stakes in are, eToys, GoTo.com, Ticketmaster Online-CitySearch and NetZero. Last April, Pasadena, Calif.-based Idealab filed documents with the Securities and Exchange Commission seeking to raise approximately $300 million through an initial public offering. Idealab had lofty ambitions: One month prior to the filing, it said it would invest $1 billion more in new businesses. At the time it had stakes in 35 online public and private companies it valued at $8 billion. But the markets tumbled sharply last spring, hitting the shares of e-commerce and content companies particularly hard. Many stocks have yet to recover and are trading at 80 percent to 90 percent less than their 52-week highs. As investors have begun to demand profits over revenue growth, several other tech companies have recently pulled their IPOs, including: Net consultant Zefer, set-top TV box maker ReplayTV, incentive-to-surf start-up AllAdvantage, Electronics retailer 800.com and Linux services company Linuxcare. Despite Idealab's withdrawal of the IPO, "We have a solid financial foundation," Gross said. "We understand the measurements and criteria that the public markets demand."