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Old 02-09-2002, 03:16 PM   #1
007
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Default PayPal IPO - Nasdaq: PYPL

Ok, so this might not be the right place to post this, but some may find it interesting:


NEW YORK - Online payment firm PayPal Inc. will try to restart its initial public offering after taking a hit from a patent-infringement lawsuit last week.

Analysts say the PayPal IPO should be able to get past the legal bump in the road, and also see solid debuts for retailer GameStop Inc. and real-estate company Newcastle Investment Corp.

PayPal is now slated to trade this week after filing an amended registration statement with the Securities and Exchange Commission, according to a market source.

Rival CertCo filed the suit last week, alleging deliberate patent infringement on its electronic payment and transaction system, and seeking an injunction against the infringement and damages.

In its SEC filing, PayPal said the assertions are "without merit."

Ben Holmes, an IPO industry watcher, said the lawsuit was timed simply to hurt the IPO.

"This is a patent they held since 2000," Holmes said. "Why bring it now?"

He said the PayPal deal should overcome the negative publicity of the lawsuit "on its own merit."

David Menlow, president of IPOFinancial.com, said the only hesitation he had on PayPal's IPO is the lawsuit may give a platform for an agenda-based negative story in the media.

PayPal plans to raise about $70.2 million, selling 5.4 million shares between $12 and $14 per share through lead underwriters Salomon Smith Barney.

The stock will trade as "PYPL" on the Nasdaq.


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Old 02-10-2002, 06:06 AM   #2
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Considering that Paypal has lost of millions of dollars each year, I wonder whether an IPO at this stage would be good. While , i acknowledge that Paypal has enormous prospects for the future, so did many other companies who were losing cash at the beginnign of the Internet dotcom boom ?

Would you guys buy their shares ?

* Edited the Message . *
http://www.internetnews.com/ec-news/...970181,00.html

http://www.internetnews.com/asp-news...941651,00.html

The phrase "It lost $107.8 million on revenue of $104.8 million last year." confused me earlier. I guess they only loss 3 million .


Here's the article. The word hundreds should not have been there.

Just wanted to ask if people would purchase stocks of companies which didn't turn a profit, like Amazon.com at one time.

Last edited by Heartz; 02-10-2002 at 11:38 AM.
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Old 02-10-2002, 08:53 AM   #3
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To sum it up: I wouldn't as long as they aren't making any profits.
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Old 02-10-2002, 09:59 AM   #4
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Quote:
Originally posted by Heartz
Considering that Paypal has lost hundreds of millions of dollars each year, I wonder whether an IPO at this stage would be good. While , i acknowledge that Paypal has enormous prospects for the future, so did many other companies who were losing cash at the beginnign of the Internet dotcom boom ?

Would you guys buy their shares ?
Can you refer me to the financial statements which show these figures? I could not find any articles which show that Paypal loses "hundreds of millions per year".
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Old 02-10-2002, 10:58 AM   #5
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I accidently put the word hundreds in the post above. My apologies for it .
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Old 02-10-2002, 11:53 AM   #6
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Quote:
Originally posted by Heartz
I accidently put the word hundreds in the post above. My apologies for it .
Could you point me to articles which say they have lost millions of dollars a year? I could not find any of these either.
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Old 02-10-2002, 12:49 PM   #7
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Quote:
PayPal has lost $264 million since its launch.
....
http://www.business2.com/articles/we...,36560,FF.html


Quote:
2000 Net Income (Loss): ($169,506,000)
....
http://www.ipo.com/ipoinfo/profile.a...O&c=0001103415
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Old 02-10-2002, 01:01 PM   #8
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I would like to see the 2001 financial by comparison. A fair amount of the loss for 2000 is a result of their affiliate program which became a lot stricter in 2001.

Some additional info I just found:

For the fourth quarter, the company reported $40.4 million in revenue -- a 357 percent increase over the year-ago period -- but had a net loss of $18.5 million, compared with a loss of $41.9 million in the fourth quarter of 2000.

Litan expects PayPal to get out of the red in the first quarter with a profit of about $3 million.
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Old 02-10-2002, 02:33 PM   #9
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Hey,

I'm not too sure if I find any of these articles credible. Here are a few contradicting facts from them:

From Here: http://www.internetnews.com/asp-news...941651,00.html

Quote:
The Palo Alto, Calif.-based company, which enables any business or consumer with an e-mail address to send and receive secure online payments, said in amended registration statement filed with the Securities and Exchange Commission that it expects net proceeds from the IPO of about $63.3 million.
From Here: http://www.ipo.com/ipoinfo/profile.a...O&c=0001103415

Quote:
Incorporated In: DELAWARE
Where exactly ARE they located? Are the incorperated in Delaware, and working from California, or what?

Thanks,
Ace

Last edited by Ace; 02-10-2002 at 02:33 PM.
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Old 02-10-2002, 02:57 PM   #10
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A lot of companies incorporate in Delaware since it is an extremely business friendly state. If we wanted to, we could file to become incorporated in Delaware and continue to operate our office out of Massachusetts.
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Old 02-10-2002, 10:55 PM   #11
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I feel confident about Paypal. I think it will do ok.

Reason...well if someone says online auction, I think of Ebay. If someone says Search Engine, Google. Internet directory -> Yahoo. Yes, if someone says online payment, you guessed it right, Paypal. Then again, it's just me.
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Old 02-11-2002, 06:38 AM   #12
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Interesting document on the Paypal listing.

http://www.sec.gov/Archives/edgar/da...059025zs-1.htm
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Old 02-11-2002, 07:36 AM   #13
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Quote:
Originally posted by Heartz
Interesting document on the Paypal listing.

http://www.sec.gov/Archives/edgar/da...059025zs-1.htm

????? It looked like a standard SEC filing sheet. Any company that goes public has to file them all the way through the process.
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Old 02-11-2002, 12:37 PM   #14
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Yeap its' the standard thing . Just posted it so that people could read it.
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Old 02-11-2002, 12:55 PM   #15
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Yahoo PayDirect
BillPoint.com
NoChex.com
c2it.com

Are there any other sites that offer similar services like paypal ?
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