July 17, 1998
PointCast Withdraws Planned IPO, May Sell
Push technology company PointCast, Sunnyvale, CA, announced this week that it has withdrawn its planned initial public stock offering to pursue "strategic partnership discussions without legal constraints." According to a report in The New York Times, PointCast said it has developed a combination news, shopping and e-mail software package that is of interest to portal, or Internet gateway, developers. PointCast did not disclose with whom it is negotiating. PointCast says it has between 1.2 million and 1.3 million active viewers a month of its desktop-delivered, personalized Internet news broadcasts.