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iVillage ups IPO ante
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March 16, 1999: 2:59 p.m. ET
Web site for women raises public offering range to $22 to $24 a share
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NEW YORK (CNNfn) - iVillage Inc., an online network for women, Tuesday increased the range of its initial public offering to the $22- to $24-a-share range, according to a filing with the Securities and Exchange Commission.
The New York-based Internet firm now hopes to raise $87.6 million through the offering of 3.65 million shares. The new range is nearly double the offering's original $12 to $14 range.
iVillage could set its final offering price Wednesday and begin trading publicly Thursday on the Nasdaq stock market under the symbol IVIL.
iVillage's pending IPO has been one of the most anticipated in recent weeks, despite the fact that the company reported 1998 losses of $43.7 million, or $21.10 a share. Investors apparently are impressed with iVillage's growing user base.
The company said it had 960,000 unique members as of Dec. 31, 1998, a 465-percent jump from the 170,000 members at the beginning of 1998.
iVillage said in its SEC filing that it plans to use part of the proceeds raised from the IPO to purchase a minority interest in iBaby.com, a Web site devoted to selling baby-related products. iBaby is a featured channel on iVillage's Web site.
Rumors had been swirling that the company would delay its IPO because of a recent controversy surrounding its finances. iVillage's former financial chief testified that the company was recognizing revenue prematurely, according to reports published last week.
Joanne O'Rourke Hindman made her allegations during a suit brought by another former iVillage employee, Todd Kenner, who claimed the company reneged on promised stock options. 
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iVillage
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