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PC Week: Slashdot opens itself up for Wall Street

Sep 21, 1999, 21:07 (1 Talkback[s])
(Other stories by Scott Berinato)

"Touting itself as the "leading Linux/Open Source destination on the Internet," open-source portal site Andover.net and its properties, including Slashdot.org, have entered the pre-initial public offering "quiet period" mandated by the Securities & Exchange Commission."

"Sometime later this year, Andover.net will offer 4 million shares of common stock (leaving 15 million shares outstanding) to the public at $12 to $15 per share in hopes of raising about $50 million..."

"The prospectus is 105 pages of standard Wall Street fare, including about 15 pages devoted to the risks associated with going public. After those risks are laid out, the company's business plan, including an e-commerce strategy, dominates the text. (Financial performance charts -- which demonstrate how little founder Rob Malda, aka CmdrTaco, worked for to keep Slashdot.org running - fill the remaining pages.)"

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