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iVillage prices IPO
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March 18, 1999: 5:53 p.m. ET
Online network for women hopes to raise $87.6M in public offering
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NEW YORK (CNNfn) - Women's online network iVillage Inc. Thursday priced its initial public offering at $24 a share.
Earlier this week, the New York-based Internet firm nearly doubled the offering range from $12 to $14 a share to $22 to $24.
With 3.65 million shares offered when the company begins trading Friday, iVillage hopes to raise $87.6 million in the IPO.
Goldman Sachs is the lead underwriter for iVillage's IPO.
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 and valued demographic of affluent women between 25 and 49 years old.
iVillage 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 link on iVillage's Web site.
iVillage will trade on the Nasdaq stock exchange under the symbol (IVIL). 
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iVillage
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