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Non-Tech : PointCast Network -- Ignore unavailable to you. Want to Upgrade?

To: chirodoc who wrote (26)	11/8/1997 1:02:00 AM
From: Scott Patrick Adams	Read Replies (1) \| Respond to of 48

Looks like it is getting closer!!! PointCast's CEO Choice Sets The Stage For IPO By Steven Vonder Haar October 29, 1997 2:22 PM PST Inter@ctive Week In an executive hiring that appears to set the stage for an initial stock offering, PointCast Inc. last week named former Pacific Bell President David Dorman to head its day-to-day operations. Dorman's hiring brings renewed credibility to PointCast (www.pointcast.com), a high-profile provider of push technology services that had fallen silent in recent months as the one-time fever pitch of hype surrounding the push business subsided. In tapping Dorman, PointCast likely will grab new attention in much the same way that tiny Netscape Communications Corp. did when it hired AT&T Wireless Services Inc. executive Jim Barksdale to be its president in early 1995. Dorman, 43, most recently an executive vice president at SBC Communications Inc., had been president of PacBell before SBC's acquisition of Pacific Telesis Group earlier this year. He essentially has traded managing a $9.5 billion telecommunications company with a work force of 50,000 for heading an Internet start-up that employs 250. "I'm not an idiot," Dorman said. "This is a company that carries the same type of potential of companies like @Home [Inc.] and Yahoo! [Inc.] that already have been given high valuations in the [stock] market. This is a company on a solid growth track." Dorman declined to say how quickly PointCast plans to launch an initial public offering (IPO) of stock, saying that decision must be evaluated and made by the company's board. However, industry sources said PointCast bypassed offers to sell to Rupert Murdoch's News Corp in March in a proposed deal worth more than $400 million because, in part, it had its eye on an IPO. Dorman takes the place of 34-year-old PointCast co-founder Chris Hassett, who will become chairman. Hassett said in June that the company was searching for a new chief executive with broader management experience. With Dorman onboard, PointCast will have a top-flight manager likely to appeal to Wall Street investors. Dorman, who sits on the board of 3Com Corp. with Barksdale, acknowledged the parallels in their careers. "We've both been attracted by the same thing: the chance to grow something," Dorman said. Dorman: 'Solid growth'