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

To: wl9839 who wrote (8036)	5/20/1999 12:04:00 AM
From: neverenough	Respond to of 30916

Bull Market Report update, $$$$$ $50 MILLION IPO FILED BY UNIT OF IDT CORP. America Online, GE Capital and Softbank are among the principal stockholders in a $50 million IPO filed by IDT Corp. (IDTC) for its Net2Phone Internet telephony unit to be underwritten by Hambrecht & Quist, BT Alex. Brown and Bear Stearns. IDT will own 66 percent of Net2Phone, Softbank will be the second largest stockholder with 11 percent and America Online and GE Capital will each own 5 percent. The stock was up 3% to $28 today. The Net2Phone IPO has been anticipated for months. On April 9, shares of IDT jumped 29 percent after CBS.MarketWatch.com reported that Softbank was in talks to invest in Net2Phone. The firm sells long distance phone service that is cheaper than traditional calling with international call typically 50 to 70 percent cheaper. Net2Phone has contracts with America Online unit Netscape, ZDNet (ZD), Yahoo, Excite (XCIT), and InfoSpace.com. Net2Phone served about 250,000 active customers and is handling more than 20 million minutes of use per month as of March 31, the company said in the filing. Revenue for the six months of fiscal 1999 was $13.2 million, up from $12 million in all of fiscal 1998. International Data Corp. projects an Internet telephony market of $23 billion by 2003. The company said it will embed its software in future versions of Netscape's Internet browser. A Net2Phone icon will be "prominently positioned" next to AOL's Instant Messenger icon on the Netscape Navigator Tool Bar. It is also launching a new product called PC2PC, which will provide high-quality Internet telephony from one personal computer to another. It will allow two participants in an online chat room discussion to establish direct voice communication with each other while maintaining anonymity. COMMENT: We are very high IDT Corp. The spin-off will free up a lot of cash and allow the new firm to lead in the growth of this exploding business. We use Net2Phone at the office and are paying 5 cents a minute, 24/7. The quality isn' t perfect yet, but we are saving big money on our phone bill. =====================================================================