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To: dude, man who wrote (51971)	2/4/1999 1:24:00 PM
From: puborectalis	Respond to of 119973

Nice write up by: Schumpeter (44/M/LaLaLand) 335 of 338 Thursday February 4, 12:02 pm Eastern Time Investors flock toward Web IPO Modem Media By Nadja Rogoszynski NEW YORK, Feb 4 (Reuters) - Adding to the ever-increasing herd of online enthusiasts, short-term investors continue to flock toward Web initial public offerings, such as Internet advertiser Modem Media.Poppy Tyson Inc (Nasdaq:MMPT - news). The Westport, Conn.-based firm, which provides digital interactive marketing, such as Web site design, is expected to price 2.6 million shares Thursday after the market close. "This is one of the hottest deals this year," Ben Holmes, an analyst at ipoPros, a consultancy in Boulder, Co., said. I would not be shocked if the stock will trade at a 20 to 30 point premium," he added. It's a herd mentality. They are going to run over the cliff," David Menlow at the IPO Financial Network in Millburn, N.J., said. "Investors are tired of hearing that the market is overvalued but then see these (Internet) stocks shoot through the roof. They won't shy away from it, he said. In a sign of strong demand, the deal, underwritten by BancBoston Robertson Stephens, was raised earlier to a price range of $13-$15 from the original $11-$13. The company, now owned by the advertising firm, True North Communications Inc. (NYSE:TNO - news), expects to raise a maximum of $39 million to be used to pay off debt as well as for working capital and capital expenditures. Modem Media reported nine month revenues of $30.397 million in 1998 but a loss of $2.088 million. Holmes considers Modem Media.Poppy Tyson to be the ''cream of the crop'' in online advertising, due to an exclusive, top notch client list. ''The client list speaks for itself with names like 3Com, AT&T, Citicom and Compaq. That is their niche,'' Holmes said. He believes that the company would easily outperform competitor 24/7 Media Inc. (Nasdaq:TFSM - news), which focuses more on smaller clients, and even DoubleClick Inc. (Nasdaq:DCLK - news), whose customers are a combination of smaller and larger cap companies, according to Holmes. ''They (Modem Media) are very visible and one of the most watched deals,'' Holmes said. ''Poppy Tyson is an ad agency most people are already familiar with. They are already known,'' he added. ''Of all the deals expected (tonight), Modem Media will be the one with the greatest point gain,'' Menlow said. Posted: Feb 4 1999 12:24PM EST as a reply to: Msg 1 by YahooFinance