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CNET News.com: TurboLinux plans IPO as investor wariness wanes

Oct 31, 2000, 22:30 (0 Talkback[s])
(Other stories by Stephen Shankland)

"TurboLinux has filed to go public and hopes to raise about $60 million, an indication that the Linux IPO freeze might be thawing a bit."

"The move puts TurboLinux in league with competitors Red Hat and Caldera Systems, two other companies that focus on selling Linux software and services for use on servers. And like those competitors, TurboLinux isn't profitable, posting a net loss of $30 million on revenue of $2.9 million for the six months ended June 30...."

"Japanese sales accounted for 95 percent of the company's 1999 revenue and 75 percent of the revenue from the first six months of 2000, the company said in its statement. In disclosing risks to shareholders, the statement added, "Although our new business plan focuses on sales in United States and international markets, we have only limited experience in selling our products outside of Japan."

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