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This article was published in U.S. 1 Newspaper on October 6, 1999. All rights reserved.

Big IPO for ITXC

The company that started two years ago in a house on

Library Place raised $75 million with an initial public offering last

week. ITXC went public on September 30 with 6,250,000 shares of stock

on NASDAQ (symbol: ITXC). Even though the stock market went down that

day, the price for ITXC went up by 41 percent, from $12 to $28, and

an additional 937,500 shares were added to the total. Trading has

hovered around $27.

Tom and Mary Evslin founded the company with early funding from AT&T

and VocalTec (U.S. 1, July 15, 1998). Tom Evslin had just left A&TT,

where he had set up the Internet service provider business, AT&T WorldNet.

As the CEO of ITXC he has a 25.6 percent stake in the company. Intel

owns 11.6 percent.

ITXC is a Tier 1 carrier of Internet telephony; with a presence in

73 cities and 36 countries it has the largest global Internet telephony

network. In addition to selling voice and fax calls to carriers and

resellers, it offers enhanced services available only through the

Internet. It has 100 employees at 600 College Road.