Media Metrix Inc has filed for its initial public offering, hoping to raise $48.3m before expenses. The New York City-based company, which measures the traffic at web sites and produces internet audience measurement reports that are used as one of the main ways of measuring the web’s reach, plans to use the money for international expansion, product development, and the redemption of outstanding redeemable preferred stock, as well as for general purposes. The S1 filing shows net losses for 1998 of $7.1m, after a $1.6m charge, on revenues of $6.3m. On a pro-forma basis, including the operations of RelevantKnowledge, which it acquired in October, net losses for the year would have been $15.9m on revenues of $8.1m. Cash and equivalents was $8.0m at the end of 1998. Donaldson, Lufkin & Jenrette will lead the offering.
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