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June 18, 1997updated 05 Sep 2016 12:39pm


By CBR Staff Writer

Digital equipment Corp’s AltaVista software Inc subsidiary, which has had Lehman Brothers Inc retained since August last year when it filed for an initial public offering, expects to be profitable by the second half of this year. The offering was to raise $50m but has been on hold until the search engine company makes money and the market conditions are right. AltaVista president Ilene Lang told Bloomberg that revenue has increased multiple-fold from the $3m it reported in the year to June 30 last year, but she refused to be specific on a date for flotation. AltaVista gets more than 33 million hits a day in its weekday peaks, according to Lang, up from 20m last September.

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