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Women.com Networks,Inc - (Nasdaq - WOMN)
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Women.com Networks, Inc. Files to Raise $46 Mln in IPO

Bloomberg News
May 13, 1999, 3:39 p.m. PT

Washington, May 13 (Bloomberg) -- Women.com Networks, Inc. a Web site for women readers, filed to raise $46 million through an initial public offering.

The Web site run by the San Mateo, California-based company features original content, online shopping and membership services geared to women between the ages of 25 and 49.

The company has an agreement with the Hearst Corp. that gives women.com online distribution rights to Hearst's leading women's magazines, including Harper's Bazaar, Cosmopolitan, Redbook and House Beautiful.

The network is organized into ''channels'' specializing in subjects such as career, cars, entertainment, family, fashion and beauty, fitness, and pregnancy.

''Today women represent an increasingly significant and fast-growing segment of the online audience,'' the company said in its IPO filing with the Securities and Exchange Commission. ''They also represent an increasingly important demographic group to advertisers and merchants. This importance is due in part to the growth in women's income and the role women play as key consumer decision makers, both in the home and in the workplace.''

In the first quarter of 1999, the company said it had 130 ''industry leading'' companies buy advertising on its site, including the Coca-Cola Corp., Jenny Craig, Inc.., and Sears, Roebuck and Co.

The network was formed in 1992 as Wire Networks Inc., and launched its first site, Women's Wire, in 1995. Earlier this year, the company combined operations with two Hearst sites:Astronet, an astrology site, and HomeArts, another women's lifestyle network.

Marleen McDaniel, 49, the company's chairwoman, chief executive and president, served in the management of Interop Co., a division of Ziff Davis Publishing, and Crescendo Communications Inc., which later merged with Cisco Systems Inc.

Hearst will own approximately half of the company's outstanding stock after the offering, the filing said . This will give it effective control over all stockholder actions, including electing directors. Also,''trading in our common stock may be limited unless Hearst elects to sell some or all of its shares,''the filing said.

MediaOne Interactive Services, Inc. has an 8.3 percent stake in the company before the offering, consisting partly of warrants that can be exercised for shares until the end of June.

Women.com warned in the IPO filing that it has a limited operating history and that its revenue have become significant ''only recently'' and that it has had operating losses since it formed.

As of March 31, 1999, the company had an accumulated deficit of $39.1 million, the filing said. For the three months that ended March 31, the company reported a $16 million loss on revenue of $3.6 million. Of that loss, approximately $6 million was related to non-cash charges, such as goodwill amortization and stock-based compensation, and has no effect on cash flow, the company said.

Working Capital

Women.com said it will use the proceeds from the IPO for general growth and expansion, to build its brand and enhance its products and for general corporate purposes, including working capital.

The IPO filing didn't disclose the number of shares the company hopes to sell or the price it expects to get. Those details will be disclosed in a subsequent filing. The $46 million figure listed in the filing for maximum proceeds was estimated to calculate an SEC filing fee.

Women.com hired Morgan Stanley Dean Witter, BT Alex. Brown and Salomon Smith Barney to underwrite its shares.

The company wants its shares to trade on the Nasdaq Stock Market under the symbol WOMN.

(Courtesy:Bloomberg via CNET news)
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57Women.com is now a wholly owned subsidiary of iVillage (IVIL)Jack Hartmann-11/4/2003
56hey, it takes a village to take public a POS company without a viable business pBen Wa-10/18/2000
55Apparently they've got revenues, still no earnings however. They got profilFrodo's Finger-10/18/2000
54WOMN had backing from the Hearst Corporation and came out in the dot.com mania. Jack Hartmann-10/18/2000
53Stocks That Never Should Have Been Public. Can somebody tell me why Morgan StanBen Wa-10/18/2000
52Ben, STNSHBP index? Not familar with it. JackJack Hartmann-10/18/2000
51I heard that WOMN would be added the STNSHBP index. Then all those funds will HBen Wa-10/18/2000
50WOW. Down 40% today. $2 1/16. whaaatttsss uppp? Jack EOMJack Hartmann-6/30/2000
49 Was reading Mary Meeker's report on WOMN from 5/10/00 Some of her thought -Jack Hartmann-5/13/2000
48 Story Stocks© Jack Hartmann-4/3/2000
47 At $12.825. Women.com Heats Up the Web; Women.com's Sex & Romance ConteJack Hartmann-2/12/2000
46 Women.com Signs Up 2 Millionth Member 1999 Growth Rate of Over 300 Percent SAGutterball-1/20/2000
45 Check out cut and paste from Dow Jones newswire at Yahoo board Today.HandsOn-12/6/1999
44 Hmmmm. Quiet again. Some SEC stuff and other info. Sep99 Cash $40M; Dec98 $12M Jack Hartmann-11/20/1999
43 Vinnie...it is all about comparitive valuation here. MSDW does add attractivene$Mogul-10/31/1999
42 Women.com.....going to 50 bucks in a month !! I am NOT hyping. Just look at tvinniemak-10/28/1999
41 Jack, you'll probably get all but your third wish... zurdo-10/21/1999
40 Hey jack, real women respect a man who Knows what he wants! **but will they re2MAR$-10/20/1999
39 Ideally, WOMN will have an improved balance sheet next quarter, another revenueJack Hartmann-10/20/1999
38 I attempted to short sell WOMN today but my broker wouldn't accept my orderPuck-10/20/1999
37 Yep this baby-doll needs to learn to walk, before she becomes a lady... she is2MAR$-10/20/1999
36 BM, This is a sick market......... zurdo-10/19/1999
35 zurdo, are you really Ben Affleck ... Bald Man from Mars-10/19/1999
34 I believe WOMN will equal or exceed IVIL, PashaBear... zurdo-10/19/1999
33 Well, a risky game @ best. I like the demographics here, and I actually like tPashaBear-10/19/1999
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