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| Akamai Technologies, Inc. |
| 201 Broadway, Cambridge, MA 02139 * (617) 250-3000 |
| Business Description | The company provides a global Internet content delivery service that improves Web site speed and reliability and protects against Web site crashes due to demand overloads. |
| Offering Information Company has | |||
| Trading As | AKAM (NASNTL) | Industry | Internet (SIC 7389) |
| Type of Stock Offered | Common Shares | Filing Date | 8/20/99 |
| Domestic Shares Offered | 9,000,000 | Offer Date | 10/28/99 |
| Foreign Shares Offered | 0 | Filing Range | $21.00 - $23.00 |
| Company Shares | 9,000,000 | Offer Price | $26.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.820 |
| Gross Proceeds | $234,000,000 | Selling | $1.180 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 90,441,800 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Morgan Stanley Dean Witter | Lead Manager | (212) 761-5900 |
| Donaldson, Lufkin & Jenrette Securities Corp. | Co-manager | (212) 371-0641 |
| Salomon Smith Barney | Co-manager | (212) 723-7300 |
| 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 | 12/31/98 | 6/30/99 | |||||
| Revenues | - | - | - | - | 0.000 | - | 0.404 |
| Income from Oper. | - | - | - | - | -0.900 | - | -9.639 |
| Net Income | - | - | - | - | -0.890 | - | -9.783 |
| E.P.S | - | - | - | - | -0.120 | - | -1.070 |
| Revenue Growth (%) | - | - | - | - | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | 1.61 | - | -5.38 | ||||
| Cash Flow - Inv. | -1.75 | - | -5.31 | ||||
| Cash Flow - Fin. | 8.33 | - | 48.94 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 6/30/99 | Financial Ratios | ||||
| Total Assets | 52.63 | Current Assets | 45.86 | Current Ratio | 10.76 |
| Total Liab. | 16.39 | Current Liab. | 4.26 | Debt Ratio | 31.15% |
| Total Equity | 36.24 | Working Cap. | 41.60 | Debt to Equity Ratio | 0.45 |
| Cash | 44.83 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for working capital and general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Hale and Dorr |
| Bank's Law Firm | Ropes & Gray |
| Registrar/Transfer Agent | BankBoston |
| Auditor | Pricewaterhouse Coopers LLC |
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| Industry Competition |
The market for Internet content delivery services is new, rapidly evolving and intensely competitive. The company expects competition to increase both from existing competitors and new market entrants for various components of the company's service. The company competes primarily on the basis of: (i) Performance of the company's service, including speed of delivery, reliability, peak crowd protection, and global content delivery capabilities; (ii) Ease of implementation and use of the company's service; (iii) Types of content delivered; and (iv) Price. The company competes primarily with companies offering products and services that address Internet performance problems, including companies that provide Internet content delivery services, streaming content delivery services and equipment-based solutions to Internet performance problems, such as load balancers and server switches. The company's competitors may be able to respond more quickly than the company can to new or emerging technologies and changes in customer requirements. Some of the company's current or potential competitors may bundle their products with other software or hardware in a manner that may discourage Web site owners from purchasing products that the company offers or Internet service providers from being willing to install the company's servers. Increased competition could result in price reductions, fewer customer orders, reduced gross margins and loss of market share, any of which could materially and adversely affect the company's business, financial condition and operations. |
| Business Plan |
The company's goal is to capitalize on its proprietary technology and leading market position to establish a new industry standard for the delivery of all types of Web content and applications to Internet users. To accomplish this goal, the company is pursuing a strategy built on the following initiatives: (i) Target Leading Web Sites Across a Broad Spectrum of Internet Categories; (ii) Further Expand and Enhance the Company's Worldwide Network; (iii) Establish Akamai as a Leading Brand for Content Delivery; (iv) Extend the Company's World-Class Technology Leadership; and (v) Build Strategic Alliances to Strengthen Market Position. |