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Author: fhbala One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1173  
Subject: Shockwave.com to have IPO? Date: 10/11/1999 10:11 AM
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Macromedia considers spinning off Shockwave
By Bloomberg News
Special to CNET News.com
October 7, 1999, 5:05 p.m. PT

URL: http://news.cnet.com/category/0-1005-200-809985.html

update Macromedia, a maker of computer programs for animating and developing Web sites, said it hired investment bank Robertson Stephens to explore the possibility of a public stock offering of its Shockwave entertainment Web site.

The Shockwave Web site was launched August 2 and offers music, games, and other entertainment content. It had more than 1.6 million unique visitors last month, Macromedia said.

Proceeds from the stock sale could be used for acquisitions, to buy content, and to help lure executives to the company, said Betsey Nelson, Macromedia's chief financial officer. Many Internet companies, which have seen the value of their shares soar amid optimism about the new medium, use
stock and options to help retain and attract employees.

"Shockwave.com is an Internet entertainment company, and Macromedia is a software company," Macromedia chief executive Rob Burgess said in a statement. "We intend to run and capitalize them according to their own
dynamics."

Earlier today, Macromedia said it agreed to buy closely held Andromedia for about $274.8 million in stock, acquiring software that allows companies to
analyze customer spending habits on the Internet.

Robertson Stephens is a unit of Fleet Boston.

Copyright 1999, Bloomberg L.P. All Rights Reserved.

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