AdForce, MediaMetrix Stocks Double on Opening Day

  |  May 10, 1999   |  Comments

AdForce and MediaMetrix went public late last week, and the market sent bothcompanies skyward on their first day of trading.

AdForce and MediaMetrix went public late last week, and the market sent both companies skyward on their first day of trading.

Cupertino, CA-based AdForce Inc. (ADFC) rose 14 15/16 to 29 15/16 as 7.8 million shares changed hands on the Nasdaq exchange. The company closed its first trading day with a market value of $573.9 million.

New York City-based measurement company Media Metrix Inc. (MMXI ) rose 28 9/16 to 45 9/16, also on Nasdaq. The company closed its first trading day with a market value of $762.2 million.

AdForce sold 4.5 million shares at $15 each, raising $67.5 million. The sale, which was handled by Hambrecht & Quist LLC, equaled a 23 percent stake in the company.

AdForce says it delivered 13.6 billion ads last year, and 13.2 billion in the first quarter of this year. Customers include 24/7 Media Inc., GeoCities, Netscape Communications Corp. and Modem Media.Poppe Tyson Inc.

AdForce lost $5 million on revenue of $3.2 million in the first quarter, compared with a loss of $2.6 million on revenue of $414,000 in the same period a year earlier. AdForce competes directly with DoubleClick's DART service.

Media Metrix lost $7.5 million on revenue of $6.3 million last year, compared with a loss of $4.9 million on revenue of $3.2 million in 1997. It merged with Atlanta-based Relevant Knowledge in November. On a pro forma basis, as if the companies had been merged for the full year, the company lost $16.2 million on revenue of $8.1 million in 1998, according to a Bloomberg News report.

Media Metrix sold 3 million shares, or an 18 percent stake, at $17 each, raising $51 million.

Clients include America Online Inc., Amazon.com Inc., Microsoft Corp. and Yahoo. It's competition includes Nielsen Media Research and NetRatings, which recently formed a strategic relationship to provide Internet audience measurement services.

Media Metrix said it will use some proceeds from the stock sale to redeem shares held by The NPD Group, a market research firm that is its largest shareholder. Media Metrix also said it will use some money for international expansion, for new product development and for other general corporate purposes.

ClickZ Live Chicago Join the Industry's Leading eCommerce & Direct Marketing Experts in Chicago
ClickZ Live Chicago (Nov 3-6) will deliver over 50 sessions across 4 days and 10 individual tracks, including Data-Driven Marketing, Social, Mobile, Display, Search and Email. Check out the full agenda and register by Friday, Sept 5 to take advantage of Super Saver Rates!

ABOUT THE AUTHOR

COMMENTSCommenting policy

comments powered by Disqus

ClickZ Today is our #1 newsletter.
Get a daily dose of digital marketing.

COMMENTS

UPCOMING EVENTS

Featured White Papers

IBM: Social Analytics - The Science Behind Social Media Marketing

IBM Social Analytics: The Science Behind Social Media Marketing
80% of internet users say they prefer to connect with brands via Facebook. 65% of social media users say they use it to learn more about brands, products and services. Learn about how to find more about customers' attitudes, preferences and buying habits from what they say on social media channels.

Marin Software: The Multiplier Effect of Integrating Search & Social Advertising

The Multiplier Effect of Integrating Search & Social Advertising
Latest research reveals 68% higher revenue per conversion for marketers who integrate their search & social advertising. In addition to the research results, this whitepaper also outlines 5 strategies and 15 tactics you can use to better integrate your search and social campaigns.

Resources

Jobs

    • Digital Marketing Analyst
      Digital Marketing Analyst (GovLoop) - Washington D.C.Are you passionate about audience acquisition? Love effective copy and amazingly effective...
    • Product Specialist
      Product Specialist (Agora Inc. ) - BaltimoreDescription: The Product Specialist is hyper-focused on the customer experience and ensures that our...
    • Partnerships Senior Coordinator
      Partnerships Senior Coordinator (Zappos.com, Inc.) - Las VegasZappos IP, Inc. is looking for a Partnerships Senior Coordinator! Why join us? Our...