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IPO for Playboy online
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September 28, 1999: 10:24 a.m. ET
Men's magazine publisher to raise capital for funding further acquisitions
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NEW YORK (CNNfn) - Playboy Enterprises said Tuesday it is planning to sell a minority interest in its online business to the public by early 2000.
The company's online assets include Playboy.com, an entertainment site for men; Playboy Cyber Club, a subscription site that offers online chats, events and access to Playboy's picture and TV programming libraries; the Playboy Store and the recently acquired Spice Online.
"With the strong global appeal of the Playboy brand and the differentiated content offered, we have built a men's destination site with multiple revenue streams, including e-commerce, advertising, subscription and pay-per-view," Playboy chairwoman and CEO Christie Hefner said in a statement. "In addition, our recent acquisition of the Spice brand gives us an opportunity to create a separate site, cross-promoted with the Spice TV network."
"We believe the sale of a minority piece of this business to the public will create the currency needed to continue to build a top-flight senior management team and to make acquisitions and alliances, allowing us to grow this business even more aggressively going forward," Hefner added.
Shares in Playboy (PLA) rose 1 to 23-1/4 in early Tuesday trading. 
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