Tech Industry

NetObjects eyes eventual IPO

NetObjects is still on track for an initial public offering, but the company has not set a timeline, its chief executive says.

NetObjects is still on track for an initial public offering, but the company has not set a timeline, its chief executive said today.

The company has gone through several rounds of financing, including an IBM investment said to be upwards of $100 million in March 1997 in addition to several venture-backed infusions. Despite the investments, NetObjects functions as an independent company, said Samir Arora, the company's chief executive officer, at the BancAmerica Robertson Stephens investment conference.

The company derives 100 percent of its revenue from sales of its products, and Arora said the scope of its customers is changing. He added that it was attracting small and medium-sized businesses, but that through its partnerships, bigger names are using its products to develop a Web presence.

The third version for the NetObjects' flagship product, Fusion, is slated to ship next month, according to Arora. The upgraded product for Windows 95 and NT adds more than 150 new features and enhancements.

For example, it allows site builders to create pages in any combination of graphical, textual, or HTML modes. An updated Apple version of the product will follow.

Arora said the company and its products will continue to support all standards. "That strategy is the core principle of our growth."

Some of its customers include Bristol-Myers, Boeing, NASA, Bell Atlantic, Motorola, U-Haul, and Coopers & Lybrand.

NetObjects sells its products through resellers, VARs, and direct channels.