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Xoom.com zooms again
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April 13, 1999: 3:42 p.m. ET
Web community operator says it didn't strike buyout deal, but stock still soars
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NEW YORK (CNNfn) - Shares of Xoom.com rocketed for a second day Tuesday, rising 21 percent, even though the Web community operator said last Friday talks with a potential buyer didn't come to fruition.
In Nasdaq trading shortly after 3 p.m. ET, Xoom.com (XMCM), which went public last December, rose 16-7/8 to 93-3/4. The shares rallied 6-3/4 Monday.
In an SEC filing Friday, the San Francisco-based company said it had been in talks with an unspecified potential buyer, but those conversations didn't result in a deal.
"We have recently had preliminary discussions with one party with respect to a possible major investment in us that could have resulted in a change of control, but did not reach an agreement on transaction terms," Xoom.com said in its filing, which focused on a secondary offering of 4 million shares.
A spokesman said Xoom.com is in a quiet period and hasn't been speaking to the press. The company is expected to emerge from that quiet period on Thursday.
"We are just pointing everybody to the SEC filing," Roger Maes, a Xoom.com spokesman, said. "And we haven't made any comments or distributed any press releases beyond that."
Xoom.com provides Web site and online community services to more than six million members. Research company Media Matrix Inc. rated Xoom.com the 13th most-visited site on the web at the end of 1998, Xoom.com said. 
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Xoom.com
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