PointCast Won't Go Public
Jul. 15, 1998
NEW YORK (AP) _ PointCast Inc., the struggling Internet pioneer, is withdrawing its plans to go public and instead will seek to join with another company to expand its business, the company's chief executive said Wednesday.
CEO David Dorman said PointCast would consider a range of deals, from licensing its technology to another Internet company to an outright acquisition.
PointCast withdrew its application to take the company public amid flagging investor interest in its so-called ``push'' technology, which sends information across the Internet directly to one's desktop computer so that users don't have to search for what they need. PointCast's software enables ``viewers'' to receive channels of news, sports and other information contributed by media companies.
Instead, investors have focused on Internet companies that operate comprehensive Web sites, providing an array of services and search engines that help guide users to other locations on the Internet.
Dorman said one possibility PointCast may consider is licensing its technology to a Web-site operator that would incorporate its push technology as part of the services offered to visitors.
Dorman in a telephone interview, declined to name potential partners.