On-Line Auctions Help Keep eBay's IPO Outlook Strong

SAN JOSE, Calif. -- The past month's brutal sell-off of Internet stocks has caused a lot of the industry's aspiring stars to postpone plans for an initial public offering. But eBay Inc., one of the few closely held Internet companies that already is turning a profit, is pushing ahead with IPO plans anyway.

Underwriters led by Goldman, Sachs & Co. have largely completed a roadshow for eBay, which runs on-line auctions of everything from baby strollers to autographed pictures of Frank Sinatra. The company is seeking to raise $52 million by selling 3.5 million shares at $15 apiece. If the offering is carried out on those terms, it would value the entire company at $595 million.