Welcome to Phase Two of the Internet initial public offering frenzy. Phase One, in 1995, brought us the extraordinary multibillion-dollar debut in the public markets of companies like Netscape Communications Corp. and Spyglass Inc. who put a graphic face on the Web. It also included public offerings from companies supplying the basic connection (UUNet Technologies Inc., NetCom On-Line Communications Services).
In Phase Two, companies building the service economy on the Web will, as the investment bankers say, "realize their value." Look for Internet IPOs in the first half of 1996 from companies that help us navigate (Lycos Inc. and Infoseek Corp.), and those that aid monetary transactions (CyberCash Inc.). CyberCash has already filed with the Securities and Exchange Commission to sell US$30 million in stock, and our reading of the tea leaves tells us that Infoseek and Lycos aren't far behind. Start the countdown to Phase Three of IPO frenzy - content providers - playing next autumn at a brokerage near you.
ELECTRIC WORD
Son of IPO Fever
