Gay.com Did Their IPO on the NASDAQ Today - GoFuckYourself.com

KRL · 10-14-2004, 10:21 PM

SAN FRANCISCO - There was no big stir on Wall Street, but a San Francisco-based Internet company marked a cultural milestone Thursday by becoming the first gay-directed business to trade its stock on a major exchange.

PlanetOut Inc., which operates several gay and lesbian-themed Web sites, made an initial public stock offering of 4.65 million shares on the Nasdaq Stock Market. The shares gained 16 percent on the first day of trading, closing at $10.40.

In a nod to both its mission and as a statement of gay pride, PlanetOut adopted "LGBT" ? an acronym for lesbian, gay, bisexual and transgender ? as its ticker symbol.

While businesses catering to a gay clientele have appeared on the Australian Stock Exchange and smaller markets, PlanetOut has broken new ground by meeting the requirements for longevity and stability to get listed on Nasdaq, said Walter Schubert, a stock broker who founded Gay Financial Network.

"For years now, we've heard about the gay market and heard about how lucrative it is," said Schubert, who does not own any PlanetOut stock. "Here now is the first publicly traded company where those who are interested in taking advantage of an investment opportunity that's part of that market would find a pretty good opportunity."

In a prospectus filed with the Securities and Exchange Commission (news - web sites), PlanetOut said it hoped to raise $39 million through the IPO, money that would be used to bolster traffic at its Web portals, gay.com and planetout.com, increase the number of subscribers using its fee-based service for personal ads, and expanding into more countries.

The company is also considering using its strong online presence to move into other media, such as print, radio or broadcast.

Unlike many other Internet startups, PlanetOut managed to survive the dot-com collapse by broadening its revenue sources to add subscriptions as well as advertising, by reducing expenses and by adding new features, such as separate travel and shopping sites.

The company posted its first profitable quarter in 2003, but has ended the each of the last three years with a loss. During the first six months of 2004, PlanetOut had a net loss of $416,000 on revenues of $11.6 million, compared to income of $103,000 on revenues of $8.9 million for that period in 2003.

Steen2 · 10-14-2004, 10:22 PM

I tried to call that company once, could never get ahold of anyone

TheButcher · 10-14-2004, 10:23 PM

so who would buy a gay stock?

KRL · 10-14-2004, 10:23 PM

Quote:

Originally posted by Steen2
I tried to call that company once, could never get ahold of anyone

I've talked with their CEO on the phone.

datatank · 10-14-2004, 10:24 PM

How the hell does gay.com loose money?

Crypt · 10-14-2004, 10:25 PM

Ill remove all my bots from their chatrooms then ;)

Crypt · 10-14-2004, 10:26 PM

Quote:

Originally posted by datatank
How the hell does gay.com loose money?

I dont know how they loose money, but i fucking know how they can do some ;) haha

KRL · 10-14-2004, 10:28 PM

Quote:

Originally posted by datatank
How the hell does gay.com loose money?

Often in business small companies make more money than larger companies because small companies are usually run tight and lean and larger companies become corporate bloated with lots of non-productive employees acting like they are working.

Dawgy · 10-14-2004, 10:30 PM

yes, yes. it was a good day

Gynecologist · 10-14-2004, 10:35 PM

Hot linken!!!!!!!!!!!!!

http://www.pbase.com/hansaplast26/image/32304716

Steen2 · 10-14-2004, 10:38 PM

Quote:

Originally posted by KRL
I've talked with their CEO on the phone.

Now I'm jealous

+++
Often in business small companies make more money than larger companies because small companies are usually run tight and lean and larger companies become corporate bloated with lots of non-productive employees acting like they are working.
+++

BRISK · 10-14-2004, 10:46 PM

So what's their market cap now?

smack · 10-14-2004, 10:57 PM

that's great news.

ytcracker · 10-14-2004, 10:58 PM

that stock is so gay

10-14-2004, 10:21 PM	#1
KRL Entrepreneur Join Date: Oct 2002 Location: USA Posts: 31,429	Gay.com Did Their IPO on the NASDAQ Today SAN FRANCISCO - There was no big stir on Wall Street, but a San Francisco-based Internet company marked a cultural milestone Thursday by becoming the first gay-directed business to trade its stock on a major exchange. PlanetOut Inc., which operates several gay and lesbian-themed Web sites, made an initial public stock offering of 4.65 million shares on the Nasdaq Stock Market. The shares gained 16 percent on the first day of trading, closing at $10.40. In a nod to both its mission and as a statement of gay pride, PlanetOut adopted "LGBT" ? an acronym for lesbian, gay, bisexual and transgender ? as its ticker symbol. While businesses catering to a gay clientele have appeared on the Australian Stock Exchange and smaller markets, PlanetOut has broken new ground by meeting the requirements for longevity and stability to get listed on Nasdaq, said Walter Schubert, a stock broker who founded Gay Financial Network. "For years now, we've heard about the gay market and heard about how lucrative it is," said Schubert, who does not own any PlanetOut stock. "Here now is the first publicly traded company where those who are interested in taking advantage of an investment opportunity that's part of that market would find a pretty good opportunity." In a prospectus filed with the Securities and Exchange Commission (news - web sites), PlanetOut said it hoped to raise $39 million through the IPO, money that would be used to bolster traffic at its Web portals, gay.com and planetout.com, increase the number of subscribers using its fee-based service for personal ads, and expanding into more countries. The company is also considering using its strong online presence to move into other media, such as print, radio or broadcast. Unlike many other Internet startups, PlanetOut managed to survive the dot-com collapse by broadening its revenue sources to add subscriptions as well as advertising, by reducing expenses and by adding new features, such as separate travel and shopping sites. The company posted its first profitable quarter in 2003, but has ended the each of the last three years with a loss. During the first six months of 2004, PlanetOut had a net loss of $416,000 on revenues of $11.6 million, compared to income of $103,000 on revenues of $8.9 million for that period in 2003. __________________ If you would like to develop your domains, you can lease inexpensive foreign labor from the leaders in the field at iWebmasters.com TO LOWER YOUR COSTS AND INCREASE YOUR PRODUCTION! * * * * * * * * * * * * Domains Adult News KRL's Newsletter Biz Tips Just Listed Domains

10-14-2004, 10:22 PM	#2
Steen2 Confirmed User Join Date: Feb 2004 Location: Vancouver, Canada Posts: 7,662	I tried to call that company once, could never get ahold of anyone __________________ ICQ: 2262.73945

10-14-2004, 10:30 PM	#9
Dawgy Confirmed User Join Date: Jul 2001 Posts: 5,856	yes, yes. it was a good day __________________ the revolution is coming.

10-14-2004, 10:35 PM	#10
Gynecologist Confirmed User Join Date: Sep 2004 Location: Los Angeles Posts: 2,184	Hot linken!!!!!!!!!!!!! http://www.pbase.com/hansaplast26/image/32304716 Last edited by Gynecologist; 10-14-2004 at 10:38 PM..

10-14-2004, 10:46 PM	#12
BRISK Too lazy to set a custom title Join Date: Feb 2003 Posts: 12,240	So what's their market cap now? __________________ I post on GFY so that when people ask me what I do, I can tell them that I work with the mentally retarded.

10-14-2004, 10:23 PM	#3
TheButcher So Fucking Banned Industry Role: Join Date: Oct 2004 Posts: 811	so who would buy a gay stock?

10-14-2004, 10:24 PM	#5
datatank Confirmed User Join Date: Aug 2004 Location: My dog is blacker than Tupac Posts: 5,471	How the hell does gay.com loose money?

10-14-2004, 10:25 PM	#6
Crypt Confirmed User Join Date: Apr 2004 Posts: 2,225	Ill remove all my bots from their chatrooms then ;)

10-14-2004, 10:57 PM	#13
smack Push Porn Like Weight. Industry Role: Join Date: Mar 2002 Location: Inside .NET Posts: 10,652	that's great news. __________________ Cry havoc and let slip the dogs of war.

10-14-2004, 10:58 PM	#14
ytcracker stc is the greatest Join Date: Dec 2002 Location: rip sean murray Posts: 12,403	that stock is so gay __________________ www.ytcracker.com \| www.digitalgangster.com i love you