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| TiVo Inc. |
| 894 Ross Drive, Suite 100, Sunnyvale, CA 94089 * (408) 747-5080 |
| Business Description | TiVo is a pioneer in the personal television industry. We have created a unique personal television service that allows viewers to watch what they want when they want. The TiVo Service creates a richer and more enjoyable television viewing experience by offering viewers greater control, choice, and convenience. |
| Offering Information Company has | |||
| Trading As | TIVO (NASNTL) | Industry | Telecommunications (SIC 4841) |
| Type of Stock Offered | Common Shares | Filing Date | 7/22/99 |
| Domestic Shares Offered | 5,500,000 | Offer Date | 9/29/99 |
| Foreign Shares Offered | 0 | Filing Range | $11.00 - $13.00 |
| Company Shares | 5,500,000 | Offer Price | $16.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.120 |
| Gross Proceeds | $88,000,000 | Selling | $0.670 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 35,687,500 | Employees | 98 |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| CS First Boston | Lead Manager | (212) 325-2000 |
| Allen & Company Incorporated | Co-manager | (212) 339-2220 |
| BancBoston Robertson Stephens | Co-manager | (415) 989-8500 |
| Thomas Weisel Partners LLC | Co-manager | (415) 364-2500 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 6 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/97 | 12/31/98 | 6/30/98 | 6/30/99 | |||
| Revenues | - | - | - | 0.000 | 0.000 | 0.000 | 0.008 |
| Income from Oper. | - | - | - | -0.625 | -9.837 | -3.068 | -11.727 |
| Net Income | - | - | - | -0.595 | -9.721 | -3.046 | -11.628 |
| E.P.S | - | - | - | -0.200 | -2.210 | -0.790 | -1.750 |
| Revenue Growth (%) | - | - | - | - | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | -8.84 | -2.78 | -10.70 | ||||
| Cash Flow - Inv. | -0.82 | -0.13 | -7.62 | ||||
| Cash Flow - Fin. | 9.79 | 5.26 | 28.04 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 6/30/99 | Financial Ratios | ||||
| Total Assets | 23.80 | Current Assets | 22.36 | Current Ratio | 5.40 |
| Total Liab. | 4.70 | Current Liab. | 4.14 | Debt Ratio | 19.74% |
| Total Equity | 19.11 | Working Cap. | 18.22 | Debt to Equity Ratio | 0.25 |
| Cash | 11.97 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for working capital and general corporate purposes, including advertising and promotion of the TiVo Service and the TiVo brand, product development, expansion of our sales, marketing and service capabilities. We may also use a portion of the proceeds for acquisitions of products and technologies or for strategic alliances. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Cooley Godward Castro Huddleson & Tatum |
| Bank's Law Firm | Shearman & Sterling |
| Auditor | Arthur Andersen |
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| Industry Competition |
The market for home entertainment goods and services is intensely competitive, rapidly evolving and subject to rapid technological change. The delivery of video and television programming is particularly competitive as new products and services continue to be introduced and marketed. TiVo believes that the principal competitive factors in these markets are name recognition, performance, pricing, ease of use and functionality. Because the personal television market is new and rapidly evolving, TiVo expects it will face significant barriers in its efforts to secure broad market acceptance, and intense competition at several different levels. Established competitors in the consumer electronics market. Personal television competes in a consumer electronics market that is crowded with several established products and services, especially products delivering television programming and other home video entertainment. Personal video recorders and the TiVo Service compete with products and technologies that have established markets and proven consumer support, such as VCRs, DVD players and cable and satellite television systems. To be successful, TiVo believes it will need to spend significant resources to develop consumer awareness of TiVo and the personal television product category. Internet-related companies and companies offering similar products and services. TiVo faces competition from Internet service providers and other Internet companies such as WebTV, America Online and X-TV. These competitors are seeking to meld Internet browsing and traditional broadcast, cable or satellite television programming into a single medium. For example, WebTV and EchoStar Communications have released the DishPlayer, which is a product that combines Internet access with a program guide and the ability to pause live television. TiVo's primary competitor in the personal television market is Replay Networks, Inc. Replay manufactures and markets a personal television recorder that includes a hard disk drive and functionality similar to that of the TiVo-enabled personal video receiver. |