Agency.com goes ahead with IPO

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Agency.com on Sept. 2 filed for an initial public offering to raise up to $75 million. Omnicom and its Internet subsidiary, Communicade, will continue to hold 49.9% of the interactive shop's stock. Agency.com, the No. 3 shop on Advertising Age's Interactive 100, reported a 1998 loss of $1.8 million on revenue of $26.5 million. On a pro forma basis adding in acquisitions, Agency.com lost $10.6 million on revenue of $70.9 million last year and $4.7 million on revenue of $41.8 million in the first half of 1999. Agency.com's largest clients are British Airways, Compaq Computer Corp. and Sprint Corp.

Copyright September 1999, Crain Communications Inc.

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