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| Internet Capital Group, Inc. |
| 435 Devon Park Drive Building 800, Wayne, PA 19087 * (610) 989-0111 |
| Business Description | The company is an Internet holding company primarily engaged in managing and operating a network of business-to-business, e-commerce companies. |
| Offering Information Company has | |||
| Trading As | ICGE (NASNTL) | Industry | Internet (SIC 7389) |
| Type of Stock Offered | Common Shares | Filing Date | 5/11/99 |
| Domestic Shares Offered | 14,900,000 | Offer Date | 8/4/99 |
| Foreign Shares Offered | 0 | Filing Range | $10.00 - $12.00 |
| Company Shares | 14,900,000 | Offer Price | $12.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.840 |
| Gross Proceeds | $178,800,000 | Selling | $0.520 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | - - | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Merrill Lynch & Co. | Lead Manager | (212) 449-4600 |
| Banc of America Securities LLC | Co-manager | (415) 627-2100 |
| BancBoston Robertson Stephens | Co-manager | (415) 989-8500 |
| Deutsch Banc Alex. Brown | Co-manager | (410) 727-1700 |
| Wit Capital Corporation | Co-manager | (212) 253-4400 |
| 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 | 12/31/96 | 12/31/97 | 12/31/98 | ||||
| Revenues | - | - | 0.285 | 0.792 | 3.135 | - | - |
| Income from Oper. | - | - | -2.151 | -6.718 | -19.578 | - | - |
| Net Income | - | - | -2.062 | -6.580 | 13.899 | - | - |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | - | - | 177.70 | 295.893 | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | 443.38 | - | - |
| Cash Flow - Oper. | -14.21 | - | - | ||||
| Cash Flow - Inv. | -13.60 | - | - | ||||
| Cash Flow - Fin. | 48.68 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/98 | Financial Ratios | ||||
| Total Assets | 96.79 | Current Assets | 29.80 | Current Ratio | 3.19 |
| Total Liab. | 16.06 | Current Liab. | 9.35 | Debt Ratio | 16.59% |
| Total Equity | 80.72 | Working Cap. | 20.45 | Debt to Equity Ratio | 0.20 |
| Cash | 26.84 | Return on Assets | 14.36% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for repayment of outstanding indebtedness, acquisitions and working capital. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Dechert Price & Rhoads |
| Bank's Law Firm | Davis, Polk & Wardwell |
| Registrar/Transfer Agent | ChaseMellon Shareholder Services, L.L.C. |
| Auditor | KPMG LLC |
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| Industry Competition |
We may compete with our shareholders and Partner Companies for Internet-related opportunities. After this offering, Comcast Corporation, Compaq Computer Corporation, General Electric Capital Corporation and Safeguard Scientifics, Inc. will beneficially own x % of our common stock, respectively. These shareholders may compete with us to acquire interests in B2B e-commerce companies. Comcast Corporation, General Electric Capital Corporation and Safeguard Scientifics, Inc. currently each have a designee as a member of our board of directors, which may give such companies access to our business plan and potential acquisitions. In addition, we may compete with our Partner Companies to acquire interests in B2B e-commerce companies, and our Partner Companies may compete with each other for acquisitions or other B2B e-commerce opportunities. In particular, VerticalNet seeks to expand, in part through acquisition, its number of B2B communities. VerticalNet, therefore, may seek to acquire companies that we would find attractive. While we may partner with VerticalNet on future acquisitions, we have no current contractual obligations to do so. We do not have any contracts or other understandings with our shareholders or Partner Companies that would govern the resolution of these potential conflicts. Such competition, and the complications posed by the designated directors, may deter companies from partnering with us and may limit our business opportunities. |
| Business Plan |
Our operating strategy is to integrate our Partner Companies into a collaborative network that leverages our collective knowledge and resources. Acting as a long-term partner, we use these collective resources to actively develop the business strategies, operations and management teams of our Partner Companies. Our resources include the experience, industry relationships and specific expertise of our management team, our Partner Companies and our Advisory Board. Currently, our Advisory Board consists of individuals with executive-level experience in general management, sales and marketing and information technology at such leading companies as Cisco Systems, Coca-Cola Company, Exodus Communications, IBM, MasterCard, Merrill Lynch and Microsoft. We believe that building successful B2B e-commerce companies enhances the ability of our collaborative network to facilitate innovation and growth among our Partner Companies. |