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BUSINESS
November 12, 1998 | From Times Staff and Wire Reports
Three companies made smashing stock debuts on Wall Street on Wednesday, signaling a revival in investors' hunger for initial public offerings--a key source of capital for fast-growing businesses. In the day's biggest surprise, shares of EarthWeb Inc., a New York-based provider of online services to other information technology companies, rocketed from their initial offering price of $14 to close at $48.69 on Nasdaq, for a 248% one-day gain.
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BUSINESS
November 12, 1998 | From Times Staff and Wire Reports
Three companies made smashing stock debuts on Wall Street on Wednesday, signaling a revival in investors' hunger for initial public offerings--a key source of capital for fast-growing businesses. In the day's biggest surprise, shares of EarthWeb Inc., a New York-based provider of online services to other information technology companies, rocketed from their initial offering price of $14 to close at $48.69 on Nasdaq, for a 248% one-day gain.
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BUSINESS
February 5, 1999 | Bloomberg News
Wit Capital Corp., the brokerage that pioneered the sale of stock over the Internet, said Thursday it hired Merrill Lynch & Co. analyst Jonathan Cohen as its research director. Cohen followed Internet companies for the largest U.S. securities firm. He was named to Institutional Investor's All-America Research Team the last three years, Wit Capital said. Wit Capital has helped underwrite more than 50 stock sales, including MarketWatch.com Inc., EarthWeb Inc., Tweeter Home Entertainment Group Inc.
BUSINESS
March 13, 1999 | Bloomberg News
Wit Capital Group Inc., an online securities firm, said it plans an initial public stock offering in the second quarter of this year. New York-based Wit Capital was started in 1996 by Andrew Klein, after selling shares of his Spring Street Brewing Co. in the first online initial public offering. In the last year, Salomon Smith Barney Inc.'s former vice chairman, Robert Lessin, and other investment bankers joined the company to help build its business.
BUSINESS
December 27, 2000
Seat Pagine Gialle, an Internet service provider based in Italy, agreed to buy NetCreations Inc. for about $108.7 million after DoubleClick Inc. dropped out of the bidding for the seller of e-mail marketing services. Seat Pagine will pay $7 a share for New York-based NetCreations, a 4.7% premium over NetCreations' Friday closing price, a NetCreations spokeswoman said. * New York-based EarthWeb Inc.
BUSINESS
March 30, 1999 | Bloomberg News
Goldman Sachs Group, Wall Street's largest investment banking partnership, said Monday that it will buy a 22% stake in Wit Capital Group Inc., an online broker that helps companies sell stock on the Internet. Terms weren't disclosed for the purchase of Wit common stock and warrants. The two companies plan to work together on initial public offerings, although the relationship won't be exclusive, they said in a statement.
BUSINESS
November 13, 1998 | WALTER HAMILTON and ELIZABETH DOUGLASS, TIMES STAFF WRITERS
In perhaps the most blatant example yet of the mania engulfing Internet-related stocks, the shares of a tiny Santa Barbara-based company jumped almost 13-fold Thursday after it announced plans to offer high-speed Internet access in its local area. After trading in the $2 to $3 range the last three months, the stock of AvTel Communications Inc. surged $28.75 to close at $31 on Nasdaq. More than 3.
BUSINESS
February 27, 2000 | SUSAN VAUGHN, SPECIAL TO THE TIMES
Victor Alvarez will tell you that he has an "almost perfect" job. "Each day I come home with as much energy as when I started the day," Alvarez said. As director of training operations for the state Employment Development Department in Mission Viejo, the 49-year-old Long Beach resident helps unemployed executives and managers build their job-hunting skills, while supervising a staff of 15 volunteers. Because Alvarez loves to coach and inspire people, this job is a dream come true.
BUSINESS
November 15, 1998 | TOM PETRUNO
Most Americans, it's safe to say, did not purchase shares of Theglobe.com Inc. on Friday, when the provider of free World Wide Web pages began trading for the first time. But somebody--at least one investor, somewhere--paid $97 a share early Friday for the New York-based company, which had sales of just $2.7 million in the first nine months of this year and losses of $11.5 million. By the end of trading, Theglobe.com had made history. The shares ended the day at $63.
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