NetGravity IPO raises $27 million

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Internet ad-management company NetGravity, San Mateo, Calif., raised $27 million in a June 12 initial public offering. The stock, which opened at $9 per share, closed June 12 at $9.75.

In related news, online Internet community GeoCities, Santa Monica, filed plans June 12 for an IPO. The company expects to raise $72.5 million, and plans to use the money to expand sales and marketing, and invest in the site's infrastructure. The proposed Nasdaq symbol is GCTY.

Copyright June 1998, Crain Communications Inc.

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