News Brief
Shopping.com Files IPO
Mar 23, 2004, 12:00 AM
Comparative shopping web site, Shopping.com, Tuesday filed with federal regulators for an initial public offering estimated to be worth $75 million. The Israeli company did not provide information about the amount of shares or what the price of each share would be, but this will be sorted out in the future by the Securities and Exchange Commission.
The online shopping company, which runs shopping.com, and epinions.com, provides a free service to consumers; it generates revenue from referral fees vendors and listings providers pay them in exchange for the traffic.
Shopping.com plans to use its IPO profits to look into possible acquisitions of businesses, products and technologies. The company said it applied to the NASDAQ under the symbol "SHOP."
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