The Internet Analyst News -- A Car Seller Polishes Its Offering

1 May 2000

The Internet Analyst News -- A Car Seller Polishes Its Offering

    NEW YORK--May 1, 2000--Despite the new lows hit by competitors during the recent technology rout, Autotrader.com (ATDC-proposed), the nation's largest used-car seller, is readying its initial public offering. With the deal at least six weeks away, there is time for the market to recover before the IPO. The online auto-retail industry is still fundamentally sound. Autobytel.com (Nasdaq:ABTL) and Autoweb.com (Nasdaq:AWEB) reported record growth in 1999, and both recently said that they would beat analysts' first quarter earnings estimates. In March, Autotrader formed a co-branded used-car auction site with Ebay (Nasdaq:EBAY). Ebay invested $9.24 million in the company in exchange for 1.17 million common shares. The company also has an exclusive distribution agreement with America Online (NYSE-AOL) to attract users to its site.
    Recent Internet IPOs are: SINA.com (Nasdaq:SINA), Corillian Corp. (Nasdaq:CORI) and AsiaContent.com (Nasdaq:IASIA).
    To find out more about this week's Analyst's IPO Update, read the article in Multex.com's The Internet Analyst(SM), http://www.theinternetanalyst.com/min-tia/individual/000427sections/ipoupdate.html

    Companies profiled:

    Autobytel.com (Nasdaq:ABTL) http://www.multexinvestor.com/af001215/tickersearch.asp?Ticker=abtl

    Autoweb.com (Nasdaq:AWEB) http://www.multexinvestor.com/af001215/tickersearch.asp?Ticker=aweb

    Ebay (Nasdaq:EBAY) http://www.multexinvestor.com/af001215/tickersearch.asp?Ticker=ebay