June 30, 1999 9:23 AM PDT

Mail.com surges on ISP deals

Shares of Mail.com Inc. (Nasdaq: MAIL) picked up 5 15/16, or 46 percent, to 18 7/8 Wednesday after the company announced that 14 regional Internet service providers will add its free e-mail service at no extra charge for their customers.

Mail.com, which already has similar deals with EarthLink Networks Inc. (Nasdaq: ELNK), Prodigy Communications Corp. (Nasdaq: PRGY) and GTE Corp. (NYSE: GTE), didn't make much of an impact in its June 18 initial public offering.

The 6.85 million-share offering priced at $7 a share, the middle of its revised range, and closed up only 1 3/4 to 8 3/4.

The 14 ISPs, which are scattered throughout nine states from Florida to Michigan, will now be able to offer their clients free e-mail access much like Microsoft Corp.'s (Nasdaq: MSFT) Hotmail property.

"We are thrilled to add these 14 regional ISPs to our growing list of ISP partners who are looking to establish a significant competitive advantage," said COO Lon Otremba in a prepared release.

Mail.com shares fell to a low of 7 3/4 shortly after the initial public offering. Prior to Wednesday's rally, the stock had peaked at 14 1/2.>


Join the conversation

Add your comment

The posting of advertisements, profanity, or personal attacks is prohibited. Click here to review our Terms of Use.

What's Hot



RSS Feeds

Add headlines from CNET News to your homepage or feedreader.