In its regulatory filing with the Securities and Exchange Commission, CyberGold did not specify the number of shares or a target price.
According to the filing, CyberGold, which was incorporated in October 1994, lost $1.7 million on $503,000 in revenue through the first three months of this year. The company lost $4.7 million in 1998 on $1 million in revenue.
By signing up for magazines, getting quotes on new cars, and buying products, CyberGold's registered users earn money that they can either spend on featured products on CyberGold or deposit to their checking or credit card accounts.
According to the filing, CyberGold has some 1.8 million members. However, the company said that a "small percentage of our members" generate the majority of its revenue.
CyberGold's largest advertising clients include Qwest Communications, autobytel.com and Walt Disney. The company said in its filing that its top five clients accounted for 63 percent of its revenues in the first quarter of this year.