Planet Out IPO: Worlds largest Gay Media
company goes public!
PLANTET OUT IPO UPDATE: SAN FRANCISCO, October
14, 2004 - PlanetOut Inc. (Nasdaq: LGBT) today announced
the initial public offering (IPO) of 4,650,000 shares of
its common stock at a price of $9.00 per share. The current
market price has soared up to $10.40 in mid-day trading
on Wall Street. Good going Planet Out!
About PlanetOut Inc.
PlanetOut Inc. is a global online media company serving
the lesbian, gay, bisexual and transgender, or LGBT, community.
April 30, 2004 (HoustonGayWeb)-- If you think
the Google IPO is the only IPO registered in the last week..
think again a huge IPO just became news from one of our
own. PlanetOut, who got its name from AOL keyword searches
and Gay.com chat rooms is now looking for some big money
to fund its growing company.
PlanetOut, which operates Gay.com and three
other gay, lesbian, and transgender oriented Web sites has
more than 3.3 million active users worldwide. They have
been a sucess story compared to the dot com bubble bursts
years ago. PlanetOuts revenues last year were were $19 million,
a rather big amount for a gay niche company.
According to documents filed with SEC, the
San Francisco based company says it hopes to raise up to
$75 million with an initial public offering of stock that
would trade on the Nasdaq Stock Market under the symbol
LGBT. LGBT is an acronym for lesbian, gay, bisexual and
transgender. "We are not sure why they decided for
Lesbian to come first but we assume that will not raise
too much controversy.," says Tracy Thomas of LesbianCredit.com.
PlanetOut said the proceeds from its stock sales would be
used for general corporate expenses and possibly for the
acquisition of additional businesses or products in the
PlanetOut has grown drastically
over the last decade from a fierce news service to a top of
the line chat product from Gay.com that even AOL, Yahoo, or
MSN cannot compete with. They offer personals and offer a
greater percentage of gays and lesbians than Match.com and
other popular competitors.
Looking to get in on the new Google or PlanetOut media IPOs?
here to find out more about opening up a investment account
or learn more about trading stocks.