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May 14, 1997updated 05 Sep 2016 1:07pm


By CBR Staff Writer

Entrepreneur Jerry Kaplan’s new venture Onsale Inc has reported net income in its first quarter as a publicly traded company of $52,000 on revenue of $12.3m. The quarterly revenue is only 13% shy of fiscal 1996 total revenue of $14.2m. For the same period last year, Onsale reported net income of $15,000 on revenue of only $577,000. Onsale Inc, based in Mountain View, California, auctions computers and peripherals over the internet and boasts 20,000 hits a day on its website. Kaplan, founder of failed Go Corp, took his new company public last month (CI No 3,129), offering 2.5 million shares at $6 a piece.

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