FOR IMMEDIATE RELEASE
Well Auctioned LLC Launches Web-Based IPO
Research and Price Discovery Service for Retail and
Institutional Investors
Service debuts with review of upcoming Google IPO.
Greenwich, CT, Wednesday, July 28, 2004
— Well Auctioned LLC today launched a unique, online financial
information service (www.wellauctioned.com) that combines
independent pre-IPO research with a patent-pending price
discovery tool that simulates the way underwriters price and
allocate IPOs. The service educates investors (both retail and
institutional) to facilitate well informed decisions about
participation in upcoming IPOs. For its inauguration, the
service will feature independent research on, and a simulation
of the Dutch auction process for, the upcoming Google (NASDAQ: GOOG) IPO.
- Improve transparency and fairness to Investors in IPOs
- Provide independent research and price discovery tools at affordable prices
- Create a knowledge-based Community for IPO investors
- Empower investors with relevant and timely pre and post IPO information
- Enhance the investor’s dialogue with their financial advisor
"My partners and I took a fresh look at the IPO process and the
desire in the investment community for fairness and transparency in
capital markets offerings following the $1.4 billion Wall Street
settlement with the New York State Attorney General and the SEC," said Burke Dempsey, Managing Member of Well
Auctioned. "We noticed independent research and
pricing information was not readily available to investors before upcoming IPOs and during the month
thereafter, in which aftermarket trading can be quite volatile. By creating an educational resource that
integrates this missing knowledge, we intend to increase
transparency and confidence in IPOs to benefit investors,
issuers and the markets in general. To us, the hype and
confusion surrounding the upcoming Google IPO crystallized the
need for our service."
Well Auctioned addresses this information gap in two important
ways. First, Well Auctioned sells independent research reports
on upcoming IPOs at prices within the reach of all investors.
Second, Well Auctioned provides its customers with the
opportunity for "price discovery" via participation in a
simulated security auction. Customers can also obtain
detailed analyses on the results of auction simulations in which
they have participated. The website also provides relevant news
and discussion forums.
Describing the merits of Well Auctioned's service, Managing
Member Bill Staib said, "The power of the Internet is in harnessing
views from many participants to solve important problems. Community-based business models have thrived in the online world and created significant value for their participants.
The more customers that participate in Well Auctioned's online
community, the more accurate and powerful our services will
become."
Well Auctioned is debuting its service with research coverage on the
upcoming Google IPO, by Scott Appleby, a Well Auctioned partner
and a noted internet services analyst, cited in a Business Week
article, The Fall of the Net Analyst (Dec. '00), as "one of the
few who got it right." Mr. Appleby has published two reports on
Google: a 30-page basic report available for the introductory
price of $29.99, and a comprehensive 48-page research report,
which also includes timely email updates of a comparable company analysis, and
access to a conference call with Mr. Appleby for the
introductory price of $199.95. Purchasers of either report will
also receive complimentary tokens to participate in Well
Auctioned's auction simulation on the Google IPO. Auction
simulations will commence soon. More details are available at www.wellauctioned.com.
About Well Auctioned LLC
Well Auctioned LLC is a Greenwich, Connecticut based online
financial information provider (www.wellauctioned.com). The
founders have complementary corporate finance, research and
online financial information backgrounds. Managing Member Burke
Dempsey has spent nearly 20 years as a corporate finance banker.
Mr. Dempsey is currently Managing Member of RedGate Advisors, LLC a corporate finance and M&A advisory firm. Previously he was a Managing Director of UBS Warburg, where he
specialized in financial technology and marketplaces and
exchanges. Managing Member Bill Staib has executive management
experience in the online financial information industry. Mr.
Staib was most recently EVP of Technology for CBS Marketwatch,
and was formerly CEO of industry-leading financial applications
company Stockpoint, which was sold to Pinnacor (d.b.a. CBS
Marketwatch). Scott Appleby, Head of Research, was a leading
research analyst in the Internet sector for Robertson Stephens,
and is currently a Managing Member of RedGate Advisors LLC, where he focuses on internet services and financial technology companies. Head of Technology, Oleg Semin, was the Director of
R&D of Stockpoint with Mr. Staib.
Well Auctioned is available to both retail and institutional
investors, but is not available to any employee or immediate
family member of an NASD member. Well Auctioned is not
associated with any NASD member, nor IPO issuer. Well Auctioned
has a strict policy that its owners and employees cannot
participate in IPOs researched or simulated on the
wellauctioned.com website.
For questions please call Well Auctioned Public Relations at
203-769-0160.
No information provided by Well Auctioned or
its website shall be construed as tax, financial or investment
advice. Participation in Well Auctioned is entirely voluntary
and does not convey any special rights or privileges to
investors with regard to an actual IPO's final pricing or
allocation thereof. Well Auctioned is not affiliated with any
NASD member. Simulated Auction results may vary from Actual
Auction results, and Well Auctioned assumes no liability for any
loss (actual or imputed) for such participation.
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