News > Technology
Mpath IPO doubles
April 29, 1999: 3:08 p.m. ET

Informatica also debuts, Musicmaker delays, Marimba raises offering price
graphic graphic
NEW YORK (CNNfn) - Mpath Interactive Inc., a Web site that lets users play online interactive games, jumped 105 percent its first day of trading Thursday, reflecting investors' continuing appetite for Internet-related initial public offerings.
     The Mountain View, Calif.-based company priced its IPO of 3.9 million shares at $18 per share. Shortly before 3 p.m., its shares were trading at 37, up 19.
     In addition to the online game site, Mpath (MPTH) also operates OnStage, which provides virtual music concerts.
     Mpath lost $11.9 million in 1998.
Informatica also climbs

     Also climbing higher in its debut was Informatica Corp. (INFA), which rose 61 percent from an opening price of 16 to 25-3/4.
     Palo Alto, Calif.-based Informatica, which sells software to bring together information stored in various corporate databases, raised $44 million in the offering.
     The company posted a loss of $7.9 million in 1998.
Musicmaker postpones

     Separately, Inc. postponed its planned IPO because it has entered into negotiations for a license agreement with a major music entertainment company.
     Musicmaker, a provider of compact-disc compilations over the Internet, had planned to raise as much as $27 million through the offer of 3 million shares of common stock.
     The Reston, Va.-based company had hoped to capitalize on continuing demand for Internet-related IPOs and the growing trend of online music distribution.
     The company, which intends to trade on the Nasdaq stock exchange under the symbol HITS, declined to specify which entertainment company it is in negotiations with.
     Musicmaker reported a loss of $4.7 million in 1998.
Marimba raises range

     Separately, Marimba Inc., which makes software that lets companies install and maintain software applications across the Internet, raised the price range of its IPO to $16 to $18 a share from $13 to $15 a share.
     In a Securities and Exchange Commission filing, Marimba said it may use the $58 million raised in the offering to acquire "businesses, products and technologies that are complementary to ours."
     Marimba was established by four former members of Sun Microsystems Inc. 's (SUNW) Java programming language development team, headed by Chief Executive Officer Kim Polese. The company will trade on Nasdaq under the symbol MRBA. Back to top


Net spawns new IPO wave - April 15, 1999 prices IPO - April 2, 1999


Mpath Interactive



Note: Pages will open in a new browser window
External sites are not endorsed by CNNmoney