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PC Week: Slashdot opens itself up for Wall Street

“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.)”

Complete
Story