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Short Take: Verio files for IPO

National ISP Verio, which has purchased majority stakes in more than 30 regional ISPs since being launched last year, has filed with the SEC for a $100 million initial public offering. Despite posting a loss of $46.3 million on $35.7 million in revenues last year, the company has $72.5 million in cash on hand, and plans to extend its services to business and institutional subscribers.

National ISP Verio, which has purchased majority stakes in more than 30 regional ISPs since being launched last year, has filed with the SEC for a $100 million initial public offering. Despite posting a loss of $46.3 million on $35.7 million in revenues last year, the company has $72.5 million in cash on hand, and plans to extend its services to business and institutional subscribers.