Live on the Net

Description

LiveOnTheNet.com (LOTN) was founded in 1984 in Huntsville, AL, and was a regional leader in the sale of PCs and Local Area Networks. In the early 1990s, working with federal technology agencies based in Huntsville, the Company began pioneering the Internet prior to its commercialization. In 1994, we became a commercial ISP offering dial-up access and Web hosting.Reacting to the hot Internet IPO market, in 1996, the Company sold 75% of its equity to Thermo Electron (TMO), an internationally recognized tech incubator who had successfully taken 23 subsidiaries public. The investment was made at a $2 million valuation with a contractual target set for a TMO-led IPO within three years.In 1999, Thermo sold its 75% share of the Company to Divine Interventures (DVIN) for $15 million, yielding a valuation of $20 million within three years after its initial purchase.

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