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Tuesday, January 25, 2005
Buy.com Files For IPO, Again
Aliso Viejo-based Buy.com has filed for an IPO to raise up to $86M, in an interesting twist to a dot com era saga. Buy.com raised $182M in an IPO in February of 2000 in the heydey of the dot com era, and was taken private by founder Scott Blum at the end of 2001 for a bargain after the company's stock plunged. According to the company's S-1 filing, the company lost $15M on revenues of $290M in 2004, and had an accumulated deficit of $409.6M as of December 31, 2004. The company said that a portion of the offering would go to pay off an accrued balance of $22.7M that it owes to its primary stockholder, ThinkTank Holdings LLC, owned by Chairman and CEO Scott Blum. The offering is being underwritten by RBC Capital Markets, Thomas Weisel Partners, and Pacific Crest Securities.
posted on Tuesday, January 25, 2005
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