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Loudcloud files $150M IPO
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September 26, 2000: 8:47 p.m. ET
Former Netscape/AOL execs head Loudcloud; Asia Online withdraws IPO
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NEW YORK (CNNfn) - Loudcloud Inc., the latest vehicle from Netscape cofounder Marc Andreessen, filed for a $150 million initial public offering with the Securities and Exchange Commission Tuesday.
Loudcloud provides Internet infrastructure services, such as hardware, software and networking equipment to businesses. Only one year old, the Sunnyvale, Calif.-based Loudcloud provides Web-hosting services that allow companies to focus on running their businesses rather than having to maintain their Internet infrastructure.
Loudcloud did not designate the number of shares it plans to sell or their anticipated price range. The Web infrastructure company will provide such information in future filings.
Loudcloud targets established companies as well as Internet-based businesses such as Nike Inc. (NKE: Research, Estimates) and Britannica.com.
Marc Andreessen is serving as Loudcloud's chairman. In addition to Netscape, Andreessen served as chief technical officer of America Online (AOL: Research, Estimates). Ben Horowitz, Loudcloud's CEO, is also a former Netscape/AOL executive.
Founded in September 1999, Loudcloud has yet to show profitability and had net losses of $49.4 million on net revenue of nearly $2 million for the six months ended July 31.
Goldman Sachs and Morgan Stanley Dean Witter are joint-book runners on the deal.
The company plans to trade under the Nasdaq symbol "LDCL."
Asia Online pulls $100M offering
Internet company Asia Online Ltd. Tuesday withdrew its planned $100 million U.S. initial public offering, citing current market conditions.
"Based upon changed circumstances in the securities market, the registrant has determined at this time not to pursue the initial public offering of equity securities," the Hong Kong-based provider of Internet-related services said in a filing with the SEC.
It was the first filing by Asia Online since it disclosed in early August plans to take the company public.
The company, formerly known as Conrad ISP Inc., had planned to trade on under the Nasdaq symbol "AONL." Credit Suisse First Boston was to be the offering's lead underwriter. 
- from staff and wire reports
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Loudcloud
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