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| Autoweb.Com, Inc. |
| 3270 Jay Street, Building 6, Santa Clara, CA 95054 * (408) 554-9552 |
| Business Description | The company is a leading consumer automotive Internet service. Their Web site and services centralizes an extensive collection of automotive related commerce, content and community offerings to assist consumers in researching, evaluating and buying new and pre-owned vehicles. |
| Offering Information Company has | |||
| Trading As | AWEB (NASNTL) | Industry | Internet (SIC 7549) |
| Type of Stock Offered | Common Shares | Filing Date | 01/26/1999 |
| Domestic Shares Offered | 5,000,000 | Offer Date | 03/22/1999 |
| Foreign Shares Offered | 0 | Filing Range | $12.00 - $14.00 |
| Company Shares | 5,000,000 | Offer Price | $14.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.980 |
| Gross Proceeds | $70,000,000 | Selling | $0.590 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 23,458,464 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| CS First Boston | Lead Manager | (212) 325-2000 |
| BancBoston Robertson Stephens | Co-manager | (415) 989-8500 |
| Hambrecht & Quist Incorporated | Co-manager | (415) 439-3626 |
| Piper Jaffray Incorporated | Co-manager | (612) 342-6220 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | - - Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/1995 | 12/31/1996 | 12/31/1997 | 12/31/1998 | |||
| Revenues | - | 0.026 | 0.307 | 3.492 | 13.041 | - | - |
| Income from Oper. | - | -0.093 | -0.835 | -2.971 | -11.425 | - | - |
| Net Income | - | -0.094 | -0.845 | -2.920 | 11.484 | - | - |
| E.P.S | - | -0.010 | -0.110 | -0.410 | -1.580 | - | - |
| Revenue Growth (%) | - | 1,080.77 | 1,037.46 | 273.454 | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | 88.06 | - | - |
| Cash Flow - Oper. | -4.55 | - | - | ||||
| Cash Flow - Inv. | -1.24 | - | - | ||||
| Cash Flow - Fin. | 6.69 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/1998 | Financial Ratios | ||||
| Total Assets | 7.19 | Current Assets | 6.02 | Current Ratio | 1.15 |
| Total Liab. | 5.88 | Current Liab. | 5.22 | Debt Ratio | 81.80% |
| Total Equity | 1.31 | Working Cap. | 0.80 | Debt to Equity Ratio | 4.49 |
| Cash | 2.71 | Return on Assets | 159.83% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for general corporate purposes, including advertising, capital expenditures and working capital. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Fenwick & West |
| Bank's Law Firm | Wilson, Sonsini, Goodrich & Rosati |
| Auditor | Pricewaterhouse Coopers LLC |
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| Industry Competition |
The market for the purchase of vehicles and vehicle-related products and services is intensely competitive, and the company expects competition to increase significantly, particularly on the Internet. Barriers to entry on the Internet are relatively low, and the company may face competitive pressures from numerous companies. Currently, the company believes their most significant competitors are Microsoft's CarPoint and Autobytel.com. There are also a number of Web sites that offer vehicles, particularly vehicle manufacturers' own Web sites and sites for electronic classifieds, as well as vehicle-related products and services. In addition, there are numerous Web sites that offer vehicle information and other content, as well as community offerings, directly to the vehicle buying consumer generally or to targeted audiences such as car collectors. The company could face competition in the future from vehicle manufacturers, large dealer groups or traditional media companies, such as newspaper, television and radio companies, many of which currently operate a Web site. In addition to direct competitors, the company also competes indirectly with vehicle brokerage firms, discount warehouse clubs and automobile clubs. Several auction Web sites have also recently announced their intention to auction vehicles on the Internet. |
| Business Plan |
The company's objective is to be the leading consumer automotive Internet service. Key elements of our strategy include: (i) Leverage Operating Efficiencies, (ii) Increase Brand Awareness, (iii) Increase Consumer Traffic, (iv) Enhance and Broaden Content Offerings, (v) Deliver Additional Service Offerings, (vi) Expand and Enhance Member Dealer Network and (vii) Encourage Loyalty Through Our Online Community. |