[Posted on November 26, 2007 - 1:20 PM]
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DiggAs we were recovering from a tryptophan hangover, the underwriters for Classmates Media Corp., which operates Classmates.com, were busy setting terms for the company's upcoming IPO.
The company on Friday said it plans to offer 12 million shares of common stock for between $10 and $12 each. In its registration statement, filed in August, the subsidiary of United Online Inc. said its main competition comes from social networking sites including Facebook Inc. and MySpace.com, as well as specialty sites like LinkedIn, Reunion.com and Monster.com's Military.com, all of which aim to reunite people with friends and former colleagues. Underwriting the Classmates offering are Goldman, Sachs & Co., J.P. Morgan Chase & Co. and Deutsche Bank Securities. The stock market has been jumpy, but new technology issues have fared reasonably well. We'll see how it reacts to a social networking play.
Also while we were away, yet another Chinese company got in line to go public on U.S. markets. VanceInfo Technologies Inc., a Beijing software developer and provider of information technology services, filed to issue new shares on the New York Stock Exchange, with Citigroup Inc. and Merrill Lynch & Co. co-managing the offering. The company's backers include Sequoia Capital and Doll Capital Management. - Olaf de Senerpont Domis
See amended Classmates Media S-1 from SEC.gov
See VanceInfo F-1 from SEC.gov
See Nov. 7 post from Tech Confidential
See Aug. 14 post from Tech Confidential
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I have heard from a high ranking News Corp insider that the next News Corp purchase my be UrTone. They say it’s going to be bigger that Jamba, it is a wireless platform with custom ring tone technology never seen before and a patent app that ‘if granted’ will cause Apple’s iTunes ring tone offering a BIG problem, it will also offer the social networking to mobile phone technology, ads to mobile and already has deals with Warner Music and Universal. It’s next to be snapped up before it is well known and the price is hiked.