RightStart.com Files for $69-Million IPO
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This is no baby step.
Westlake Village-based RightStart.com Inc., the online unit of Right Start Inc., a nationwide chain of children’s stores featuring educational and developmental toys and products, filed Wednesday with the Securities and Exchange Commission for a $69-million initial stock sale.
Focusing its marketing efforts on women, the company noted in its filing that researcher Jupiter Communications predicts that the number of U.S. women who use the Internet will rise to 79 million in 2003 from 40 million in 1998. Online spending by women is expected to grow to about $41 billion in 2003 from $3 billion in 1998.
RightStart competes with a crowded field that includes Toys R Us Inc., EToys Inc., Zany Brainy Inc. and Gap Inc.’s BabyGap.
The company, which hopes to trade on Nasdaq under the symbol TOTS, hired Deutsche Banc Alex. Brown, J.P. Morgan & Co. and ING Barings as underwriters.
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