BUSINESSWEEK ONLINE : SEPTEMBER 4, 2000 ISSUE
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INTERNATIONAL -- EUROPEAN BUSINESS

History of an Offering


FEBRUARY, 1999
Letsbuyit is founded as a Web site offering consumer goods.

NOVEMBER, 1999
Online in five European countries. Initial investors include German media group ProSieben.

JANUARY, 2000
Second financing brings funding to $66 million; $99 million ad campaign kicks off. Market value put at $400 million.

APRIL, 2000
BSkyB invests $16 million and agrees to advertise the site.

MAY, 2000
Now in 14 countries. Market conditions force cancellation of IPO.

JULY 10, 2000
Second attempt to list postponed.

JULY 21, 2000
Letsbuyit goes public. Market value is $343 million.


DATA: COMPANY REPORTS, BUSINESS WEEK


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TABLE: History of an Offering



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