Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Wayne Rumball's tax write offs -- Ignore unavailable to you. Want to Upgrade?

To: Wayne Rumball who wrote (111)	6/11/1998 7:50:00 AM
From: Wayne Rumball	Respond to of 205

CNGR owns 222,222 shares of INKT at 4.50/share, look slike instant profit for CNGR (calculate 0.76/share for CNGR shareholders) INKT news; Wednesday June 10, 9:26 pm Eastern Time FOCUS-Inktomi doubles in price on day of IPO (Adds closing price) By Andrea Orr PALO ALTO, Calif., June 10 (Reuters) - Internet search and software company Inktomi Corp. (INKT - news) made a stunning debut on Wall Street Wednesday, doubling its initial public offering price. The San Mateo, Calif.-based company, whose technology powers many of the leading Internet directories, went public on the Nasdaq market at $18 a share and finished the day at $36. Inktomi offered 2.2 million shares through an underwriting team led by Goldman Sachs. Founded two years ago by a computer science professor and a graduate student at the University of California at Berkeley, the company quickly gained the respect of industry insiders. Increasingly, Inktomi's Internet search software is being recognized for its ability to crawl over large volumes of documents and deliver the comprehensive search results on the World Wide Web. Yahoo! (YHOO - news), the most popular Internet portal, recently selected Inktomi to replace Alta Vista as the search engine underlying its navigational guide. Inktomi software also powers Cnet Inc.'s (CNWK - news) Snap!, the search service which NBC Inc. invested in Tuesday. The company also has an agreement to power the upcoming search service from Microsoft Corp. (MSFT - news) and works with several international Internet service providers from Japan to Brazil. ''This is the definition of a hot stock,'' said Abishek Gami, an analyst with William Blair & Co. in Chicago. ''To have a relationship with Yahoo and Microsoft and a lot of the other major Internet players is very appealing.'' However, Gami noted that Inktomi's business model is different from most of the Internet companies that have become favorites on Wall Street. It is a pure technology business that does not deliver any services or content packaging. The company's name comes from a Lakota Indian name for wit and cunning. Berkeley professor Eric Brewer, one of the company's founders, now serves as Inktomi's chief scientist while the other co-founder, Paul Gauthier, is chief technology officer. Inktomi also makes ''network caching'' software used by America Online Inc. (AOL - news) and several other services to reduce bottlenecks on the Internet by storing some of the most popular online pages closer to users. Inktomi has compared this system to a local library that spares people long trips to the Library of Congress every time they want to borrow a book. In the same way that local libraries reduce traffic on major highways, the local caching helps reduce traffic jams on the World Wide Web.