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Strategies & Market Trends : e-Commerce the Next 100 Months...... -- Ignore unavailable to you. Want to Upgrade?

To: cm who wrote (738)	4/24/1998 8:55:00 AM
From: cm	Read Replies (1) \| Respond to of 2882

Glad That FVHI Was Never Under Consideration... News... ************ FIRST VIRTUAL HOPES FOR BAILOUT By Red Herring Online Staff April 23, 1998 Troubled e-commerce systems vendor First Virtual Holdings (FVHI) says it won't be able to meet next month's expenses without a quick infusion of capital. To forestall a meltdown, the company aims to sell off a controlling stake to a group led by Softbank Holdings Inc. (Softbank subsidiary Ziff-Davis is a minority investor in the Red Herring.) None of the other possible investors were named. First Virtual said only that it would sell its shares at 0.60 cents each if a deal comes through. The stock traded as high as 7.31 in the past year. It's now trading below 0.60. The company recently veered away from its original e-cash business plan to focus on "e-messaging" and Internet marketing systems. It was also recently awarded some U.S. patents for Internet commerce technologies, and recruited a former American Express executive, David Ehrenthal, as vice president of sales and marketing. Masayoshi Son's vast Softbank empire has done a ton o