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Technology Stocks : NextCard, Inc. (NXCD) -- Ignore unavailable to you. Want to Upgrade?

To: djane who wrote (11)	5/15/1999 3:28:00 AM
From: Walter Morton	Respond to of 192

It looks like they repeated the introduction that DD provide: Subject 27760 Maybe there were both written by the company.

To: djane who wrote (11)	5/17/1999 1:39:00 AM
From: djane	Read Replies (3) \| Respond to of 192

Nice write-up of NXCD and future NextBank internetnews.com A Friday Feast of Internet Offerings May 14, 1999 By Chris Nerney Senior Analyst If the four Internet IPOs that have priced this week but not yet gone public begin trading Friday--and there's no reason to expect that they won't--it will be the single busiest day of 1999 for Net debuts. The quartet includes "Gen Y" Web community site/fashion etailer Alloy Online; online Visa card dispenser NextCard; Internet services vendor Scient; and Web stock broker onlinetradinginc.com. We've already covered Alloy Online. The only thing new to report is the New York-based company has priced at $15, above the $10-$12 offer range for its 3.7 million shares. Of the remaining three, expect NextCard to draw the most interest among investors, despite its relatively short operating history and big first-year net loss. Some analysts believe that NextCard, based in San Francisco, has established a unique business model that puts it way out in front of prospective competitors. NextCard offers consumers instant online credit card application processing and approval, the first company to do so. Besides its NextCard Visa, issued by Heritage Bank of Commerce in San Jose, Calif. (at rates ranging from 2.9% to 9.9%), the company provides cardholders online customer service and account management, as well as Internet shopping. Yes, that's right, you can get your money and spend it all on one convenient site. The company's business plan has attracted an A-list group of venture backers, including Brentwood Venture Capital, Kleiner Perkins Caufield & Byers and Sequoia Capital. Lead underwriter for the IPO is Donaldson Lufkin Jenrette. NextCard was formed in 1996, but didn't really begin generating revenue until last year, when the company had sales of $1.1 million against net losses of $15.6 million. Early investors are looking past those unenviable numbers and focusing on NextCard's open playing field and plans to form NextBank, which would allow the company to ditch its online middleman status and issue its own credit cards accounts while accepting customer deposits. Having priced its 6 million shares Friday morning at $20--above the $17-$19 proposed range--NextCard hopes to raise $120 million with its IPO. The company's Nasdaq ticker symbol will be NXCD. Copyright 1999 internet.com LLC All Rights Reserved. Legal Notices, Reprints.