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

To: TLindt who wrote (2397)	3/9/1999 11:10:00 AM
From: AugustWest	Read Replies (1) \| Respond to of 2882

okay, thanks. Anyone got an opinion on RoweCom(ROWE)?

To: TLindt who wrote (2397)	3/20/1999 10:52:00 AM
From: jjs_ynot	Read Replies (2) \| Respond to of 2882

Well, I finally recreated all fo the e-commerce C&D portfolios: techstocks.com techstocks.com techstocks.com

To: TLindt who wrote (2397)	3/25/1999 7:34:00 PM
From: AugustWest	Read Replies (1) \| Respond to of 2882

E-Loan files for a $55 million initial offering By Eric C. Fleming March 24, 1999 6:11pm ZDII Online mortgage broker E Loan Inc. (proposed ticker: EELN) filed with the U.S. Securities and Exchange Commission for an initial public offering valued at $55.2 million. The company specified neither a price range nor the total number of shares being offered. Goldman Sachs is leading the offering, with Hambrecht & Quist and Donaldson Lufkin & Jenrette signed on as comanagers. Online mortgages, like online auctions, are a market that is altered by the medium. Before the advent of the Internet, mortgages were handled through a fairly twisted Web of brokers in a time-intense process. Going online can make hunting for a mortgage or to refinance one a much smaller headache. E-Loan is an online provider of mortgages, offering consumers the ability to obtain the most suitable mortgages from a variety of lenders. The company's Web site lets users search through more than 50,000 products from than 70 lenders to find a loan that matches their needs. Bypassing traditional brokers or lenders, users can cut transaction costs in half if E-Loan handles the fulfillment of the loan. E-Loan also tracks the progress of its loans through its own software. E-Loan is the exclusive mortgage provider for co-branded loan centers including Yahoo! Inc. (Nasdaq: YHOO), ETrade Group Inc. (Nasdaq: EGRP) and DLJDirect, among others. For 1998, Yahoo! generated 13 percent of E-Loans closed loans, with the rest of the partners contributing to 4 percent of loans for the year. During the first two months of this year, ETrade and DLJ comprise about 2 percent and 1 percent of closed loans, respectively. Yet, these partners can pull up their stakes at any time and move on. Agreements with partners are typically short-term, between one and three years in length, and can be terminated for any reason upon 30 to 60 days prior written notice. The Dublin, Calif. company generated $6.8 million in revenue last year from closing, up 84 percent from 1997. In that same time frame, E-Loan lost $11.1 million compared with $1.3 million. For the three-month period that ended Dec. 31, the company lost $4.6 million on $3 million in revenue. In the quarter that ended March 31, E-Loan lost $1.3 million from $527,000 in sales. Microsoft Corp.'s (Nasdaq: MSFT) Homeadvisor, Intuit Inc.'s (Nasdaq: INTU) Quickenmortgage, Finet Holding Corp.'s (Nasdaq: FNHC) Finet.com, Priceline.com Inc. (proposed ticker: PRLN) and HomeShark are among the companies that compete with E-Loan for online origination of mortgages. The company also locks horns with the lenders themselves, such as Countrywide Home Loans Inc. Though E-Loan is online, its clientele is endemic to California, with about 83 percent of loans it last year coming from borrowers in the Sunshine state. Each of the remaining states contributed no more than 10 percent of loans in 1998. In 10 of the 16 states where E-Loan isn't licensed as a mortgage banker, E-Loan licenses its loan systems and proprietary marks to Net.B@nk Inc. (Nasdaq: NTBK) to handle loans under the E-Loan brand. E-Loan has similar agreements with PHH Mortgage Services Corp. and Prism Mortgage Co. in the remaining six states. The market for online mortgage origination is expected to grow to more than $91.2 billion in 2003, or penetrating 9.6 percent of the market, from $18.7 billion in 1999, according to Forrester Research, a market research firm. zdii.com