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To: WallStBum who wrote (979)	10/6/2000 5:59:19 PM
From: Eric Fader	Read Replies (1) \| Respond to of 3785

Yes, Dax - idealab! filed an S-1 with the SEC this past Spring. I believe they were told that they either had to restructure such that they would have "control" (at least a 25.1% interest) of all of their portfolio companies, or seek an exemption from the applicability of the Investment Company Act of 1940 to them. In effect, the SEC's position is that a company with investments in many other companies is akin to a mutual fund and must follow the requirements applicable to mutual funds. This is the same problem that CMGI and ICGE had to face this year. Anyway, I hear that idealab!'s current goal is to have their IPO out in the first quarter of 2001. They are still officially in registration (have never withdrawn the S-1) and are therefore in a "quiet period," but have a lot of work to do before the S-1 could be approved. -Eric