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Technology Stocks : IDT *(idtc) following this new issue?* -- Ignore unavailable to you. Want to Upgrade?

To: Steve Fancy who wrote (4581)	4/11/1999 1:32:00 PM
From: Secret_Agent_Man	Respond to of 30916

"On Multiple Corporate Investors by: kennedy__style__entrepreneur 45019 of 45019 What is interesting and important is that in recent weeks the overall value of Net2Phone has gone up. Deals like Netscape are powerful in real, hard business terms. The value of voice on the net is recognized and rising more every day. The more this value increases, the higher the offering price for Net2Phone shares and the more shares it might be possible to offer. Softbank remember has a reputation for a reason. They have enormous business relationships that create dealmaking value for Net2Phone. Imagine a mega-deal between Softbank partners like e-trade and idt. This adds value. If AOL emerges, or Disney, they bring business (and value) as well as, even more than, cash or stock. So the business value goes up with their presence, furthering raising the overall market value of Net2Phone and its trading share price. It is not helpful to say that 2 corporate investors automatically mean less value for potential IDT Net2Phone investors. They create new business opportunities, new deal partners, new revenue, new earnings....and above all they dramatically increase the market value of voice on the net per se. It gets very hot and very real for fund managers and the market as a whole. So the right additional corporate investors do eat some of the pie, but they create a bigger pie for everyone to share. Also, if the company has two term sheets and potential two additional term sheets at least, this opens two possibilities. First that they all cannot be corporate investors, so there is essentially a bidding war among them and IDT picks the best offer. Or second, that there are three corporate investors and this becomes a mega-hit super-hot high flying internet ipo. Nothing is guaranteed, but if you assume the premise of your question, which is valid, the conclusion is that this is going to be on highly valued and incredibly visible and popular deal. So dont focus on the number of the corporate investors, focus on the hard business and market excitement they create for the project. regards, kse "