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Update: Internet IPOs fall flat

A trio of Internet companies hit Wall Street Friday and none of the three made much of an impression. @Plan Inc., and TenFold Corp. all were big disappointments in their debut.

  • @Plan Inc. (Nasdaq: APLN)

    @Plan shares closed up 2 to 16 after pricing the 2.5 million-share offering at $14 a share last night. It did move as high as 18 1/2.

    The Stamford, Conn. develops market research decision support and planning software for Internet advertisers, advertising agencies, and Web publishers, and has a system for online retailers. The systems, accessed through @Plan's Web site, combine databases of consumer lifestyle, product preference and demographic data with inquiry, search and planning software. @The Gallup Organization Inc collects Plan's data on consumers.

    @Plan sees itself competing indirectly with online rating agencies, such as Media Metrix Inc. (Nasdaq: MMXI) as well as advertising agencies that collect data like DoubleClick Inc. (Nasdaq: DCLK).

    Clients include:, CBS MarketWatch, Modem Media.Poppe Tyson, and TicketMaster Online and US Web/CKS.

    Hambrecht & Quist led the offering, and Bear Stearns and First Union Capital Markets comanaged.

  • (Nasdaq: FASH)

    The online retailing stock closed unchanged at 13 Friday, after pricing at $13 a share late Thursday. The company filed in March with a range between $9 a share and $11 a share, up from an earlier filing at $7 a share. makes its money by pitching retailers' clothing on a single site and collecting hosting fees and advertising revenue. In 1998, the company earned $14,000, up from $3,000 in the previous year. This profitability will end as the company hires more staff and upgrades its software other technology, the company said in a filing. Revenue rose to $2 million last year.

    Tenants include: Brooks Brothers, Fortunoff, Delia's, Sketchers, Steve Madden and Liz Claiborne.

    Fashionmall lines itself next to other online retailing aggregators, such as Bluefly Inc. (Nasdaq: BFLY), retailers with Web sites, such as L.L. Bean and Web portals, such as Yahoo! Inc. (Nasdaq: YHOO). The company's online tenants may also compete with the Web mall.

    Gruntal & Co. was the lead manager and First Security Van Kansper assisted.

  • TenFold Corp. (Nasdaq: TENF)

    The software company from Draper, Utah closed up 5 7/8 to 22 7/8 Friday after pricing its first public offering at $17 a share. The company will issue 4.7 million shares of common shares. Tenfold's range was between $13 a share and $15.

    Tenfold's edge may be its business style: Products are guaranteed on time and have pre-set prices. The company makes large-scale applications for a fixed price for clients such as Ameritech Corp. Tenfold guarantees that will deliver its software between 4 months and 8 months.

    The company competes with a myriad of larger consulting firms, such as Pricewaterhousecoopers, and software integrating service providers.

    Goldman Sachs, BT Alex Brown, and USB Piper Jaffray managed the issue.