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To: Dalin who wrote (32894)	3/9/2001 1:31:16 PM
From: stockman_scott	Respond to of 65232

Andreessen's Loudcloud Up 4 Pct Friday March 9, 1:27 pm Eastern Time By Emma-Kate Symons <<NEW YORK (Reuters) - Shares of Loudcloud Inc. (NasdaqNM:LDCL - news), the latest Internet venture of Netscape co-founder Marc Andreessen, rose only 4 percent above an already reduced initial public offering price when the firm debuted on Wall Street on Friday. After pricing 25 million shares at $6 each late on Thursday -- in a $150 million IPO managed by Goldman Sachs (NYSE:GS - news) and Morgan Stanley (NYSE:MWD - news) -- Loudcloud shares opened on Nasdaq shortly before midday at $6-1/32 and rose to $6-29/64. The shares later fell back to $6-1/4, a gain of 4 percent. This gave the Sunnyvale, Calif.-based firm a market capitalization of around $456 million. The company originally hoped for a market value of $1.3 billion, according to a filing with securities regulators last October. Loudcloud chose an ominous day to go public, as the technology-heavy Nasdaq fell nearly 5 percent to 2,060 on the eve of the one-year anniversary of the Composite Index's (.IXIC) all-time high of more than 5,000. ``It's not a surprise. I thought there was a lot of misplaced hope out there that this was going to come out and resurrect the industry and the IPO market,'' said Irv DeGraw, research director at online financial site WFNusa. ``This is the classical Internet company, the model has been discredited and this is not the kind of deal that the market wants to see this year.'' DeGraw said ``the principal reason it (Loudcloud's IPO) got done was the presence of Mark Andreessen and (Hollywood super agent) Mike Ovitz on the board.'' Andreessen, 29, founded Netscape Communications Corp., the Web browser software company whose 1995 share offering sparked a long line of highly successful Internet IPOs. The company was later acquired by America Online. Loudcloud revised the terms of its IPO on Thursday from a sale of 20 million shares at $8 to $10 per share. Loudcloud initially planned to sell 10 million shares at $10 to $12 each, according to a filing with securities regulators last October. The Loudcloud IPO was also managed by Epoch Partners and Thomas Weisel Partners.>>