Brightmail, Shopping.com file for IPOs
The companies file for a prospective public offering of their shares, a sign of the possible resurgence of Net IPOs.
Brightmail filed forms with the Securities and Exchange Commission on Monday for a prospective public offering of its shares, a sign of a potential comeback for Internet IPOs. The San Francisco company, which makes antispam products, reported a net income of about $1.1 million on revenue of $26 million in 2003, compared with a net loss of $5.2 million on revenues of $12.1 million in 2002. The bankers handling the prospective sale include JP Morgan and Lehman Brothers.
Separately, Shopping.com, a comparison shopping engine, filed for an IPO with the SEC on Tuesday. The Brisbane, Calif. company's product lets people compare prices of goods, and it makes money by selling advertising. It reported a net income of $6.9 million on revenue of $67.2 million in 2003, compared with a net loss of $5 million on revenue of $29 million in 2002. Goldman, Sachs & Co. and Credit Suisse First Boston are handling its prospective sale.