DVD software maker Intervideo raises $ 39.2 million in IPO
Posted on 18/07/03 13:52 by Jan Willem                             
DVD software maker Intervideo raises $ 39.2 million in IPO
Intervideo, best known for its WinDVD DVD player software went public yesterday.  For the (IPO) Initial Public Offering the company raised $ 39.2 million, a value increase of about 30%. The company issued 2.8 million  shares at $ 14.

The planned sale of shares puts the company's estimated market value to be close to $174 million, based on the 12.4 million shares outstanding, according to the company's IPO filing with the Securities and Exchange Commission.

InterVideo rose $4.90, or 35 percent, to $18.90 in midafternoon trading on the Nasdaq stock market. Earlier, the shares reached a high of $21.39. On Wednesday, the Fremont, California-based company sold 2.8 million shares at $14 each in its IPO. InterVideo has sold more than 50 million copies of its flagship WinDVD software, which is bundled with PCs made by manufacturers such as Dell Computer Corp. and Hewlett-Packard Co.

Revenue for the company, which was founded in 1998, rose to $45.5 million in 2002 from $33.8 million in 2001 and $15.4 million in 2000, according to InterVideo's IPO filing with the U.S. Securities and Exchange Commission. The company turned a net profit of $7.7 million in 2002 after posting similar sized losses in the two prior years.


Recently the company also announced DVD Copy, software that, like the name says, can be used to copy DVD movies. The company has also announced it will release WinDVD Creator Platinum 2 in the middle of July. This will be a full packaged DVD authoring and burning package.

Source: Reuters.com

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Discuss this article with your fellow community members! We appreciate your valuable input, but please keep the reaction policy in mind and make sure your reaction is constructive.
By GristyMcFisty, Fri 18 Jul 2003 14:24
GristyMcFisty...copy DVD movies? Surely that's not legal is it...? devil

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