Phase2Media files for IPO

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Internet advertising sales and marketing company Phase2Media filed with the Securities & Exchange Commission for an initial offering of common stock. Phase2Media registered to sell up to a maximum of $57.5 million in stock. An offering price range was not disclosed in the registration statement. Robertson Stephens will serve as lead underwriter. Phase2Media posted a loss of $9.8 million on revenue of $9.7 million for the 12 months ended March 31, the filing showed. The filing also noted Chief Operating Officer Robert Chmiel left the company in March; he had joined the company at its founding a year ago. Phase2Media, whose investors--and clients--include Hachette, offers services such as the sale of ad inventory, as well as marketing and consulting services.

Copyright May 2000, Crain Communications Inc.

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