UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Amendment No. 2)
Under the Securities Exchange Act of 1934
E*Trade Group, Inc.
-------------------
(Name of Issuer)
Common Stock, par value $.01 per share
--------------------------------------
(Title of Class of Securities)
269246104
---------
(CUSIP Number)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the reminder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
<PAGE>
CUSIP NO. 269246104 13G Page 2 of 9 pages
- --------------------------------------------------------------------------------
1 Name of Reporting Person General Atlantic Partners, LLC
S.S. or I.R.S. Identifica-
tion No. of Above Person
- --------------------------------------------------------------------------------
2 Check the Appropriate Box (a) [X]
if a Member of a Group (b) [ ]
- --------------------------------------------------------------------------------
3 S.E.C. Use Only
- --------------------------------------------------------------------------------
4 Citizenship or Place of Organization Delaware
- --------------------------------------------------------------------------------
Number of Shares (5) Sole Voting Power 0
Beneficially (6) Shared Voting Power 4,374,930
Owned by Each (7) Sole Dispositive Power 0
Reporting Person (8) Shared Dispositive Power 4,374,390
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
4,374,930
- --------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares ______
- --------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row 9 11.3%
- --------------------------------------------------------------------------------
12. Type of Reporting Person 00
- --------------------------------------------------------------------------------
<PAGE>
CUSIP NO. 269246104 13G Page 3 of 9 pages
- --------------------------------------------------------------------------------
1. Name of Reporting Person General Atlantic Partners II, L.P.
S.S. or I.R.S. Identifica-
tion No. of Above Person
- --------------------------------------------------------------------------------
2. Check the Appropriate Box (a) [X]
if a Member of a Group (b) [ ]
- --------------------------------------------------------------------------------
3. S.E.C. Use Only
- --------------------------------------------------------------------------------
4. Citizenship or Place of Organization Delaware
- --------------------------------------------------------------------------------
Number of Shares (5) Sole Voting Power 0
Beneficially (6) Shared Voting Power 4,374,930
Owned by Each (7) Sole Dispositive Power 0
Reporting Person (8) Shared Dispositive Power 4,374,930
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
4,374,930
- --------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares ______
- --------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row 9 11.3%
- --------------------------------------------------------------------------------
12. Type of Reporting Person PN
- --------------------------------------------------------------------------------
<PAGE>
CUSIP NO. 269246104 13G Page 4 of 9 pages
- --------------------------------------------------------------------------------
1. Name of Reporting Person GAP Coinvestment Partners, L.P.
S.S. or I.R.S. Identifica-
tion No. of Above Person
- --------------------------------------------------------------------------------
2. Check the Appropriate Box (a) [X]
if a Member of a Group (b) [ ]
- --------------------------------------------------------------------------------
3. S.E.C. Use Only
- --------------------------------------------------------------------------------
4. Citizenship or Place of Organization New York
- --------------------------------------------------------------------------------
Number of Shares (5) Sole Voting Power 0
Beneficially (6) Shared Voting Power 4,374,930
Owned by Each (7) Sole Dispositive Power 0
Reporting Person (8) Shared Dispositive Power 4,374,930
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
4,374,930
- --------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares ______
- --------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row 9 11.3%
- --------------------------------------------------------------------------------
12. Type of Reporting Person PN
- --------------------------------------------------------------------------------
<PAGE>
CUSIP NO. 269246104 13G Page 5 of 9 pages
- --------------------------------------------------------------------------------
1. Name of Reporting Person Richard Braddock
S.S. or I.R.S. Identifica-
tion No. of Above Person
- --------------------------------------------------------------------------------
2. Check the Appropriate Box (a) [ ]
if a Member of a Group (b) [X]
- --------------------------------------------------------------------------------
3. S.E.C. Use Only
- --------------------------------------------------------------------------------
4. Citizenship or Place of Organization U.S.A.
- --------------------------------------------------------------------------------
Number of Shares (5) Sole Voting Power 245,830
Beneficially (6) Shared Voting Power 0
Owned by Each (7) Sole Dispositive Power 245,830
Reporting Person (8) Shared Dispositive Power 0
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
245,830
- --------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares ______
- --------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row 9 0.6%
- --------------------------------------------------------------------------------
12. Type of Reporting Person IN
- --------------------------------------------------------------------------------
<PAGE>
CUSIP No. 269246104 Page 6 of 9 pages
Item 1. (a) Name of Issuer
E*Trade Group, Inc.
(b) Address of Issuer's Principal Executive Offices
Four Embarcadero Place
2400 Geng Road
Palo Alto, CA 94303
Item 2. (a) Names of Persons Filing
General Atlantic Partners, LLC ("LLC")
General Atlantic Partners II, L.P. ("GAP II")
GAP Coinvestment Partners, L.P. ("GAPCO")
Richard Braddock ("Braddock" and, together with LLC, GAP II,
and GAPCO, the "Reporting Persons")
(b) Address of Principal Business Office
c/o General Atlantic Service Corporation
3 Pickwick Plaza
Greenwich, CT 06830
(c) Citizenship
LLC - Delaware
GAP II -- Delaware
GAPCO -- New York
Braddock-- U.S.A.
(d) Title of Class of Securities
Common Stock, par value $.01 per share (the "Shares")
(e) CUSIP Number
269246104
Item 3. This statement is not filed pursuant to either Rule
13d-1(b) or 13d- 2(b).
<PAGE>
CUSIP No. 269246104 Page 7 of 9 pages
Item 4. As of December 31, 1997, LLC, GAP II, GAPCO and Braddock
owned of record no Shares, 3,835,025 Shares, 539,905 Shares
and 245,830 Shares, respectively, or 0%, 9.9%, 1.4% and
0.6%, respectively, of the issued and outstanding Shares.
The general partner of GAP II is LLC. The managing members
of LLC are Steven A. Denning, David C. Hodgson, Stephen P.
Reynolds, J. Michael Cline, William O. Grabe and William E.
Ford (collectively, the "GAP Managing Members"). Braddock is
a director of E*Trade Group, Inc., and is a consultant to
LLC. The GAP Managing Members are the general partners of
GAPCO. By virtue of the fact that the GAP Managing Members
are also the general partners authorized and empowered to
vote and dispose of the securities held by GAPCO; LLC, GAP
II and GAPCO may be deemed to share voting power and the
power to direct the disposition of the Shares which each of
them owns of record. Although Braddock is a consultant to
LLC, the other Reporting Persons do not possess any voting
or dispositive power over the Shares Braddock owns of
record. Braddock does not possess any voting or dispositive
power over the Shares the other Reporting Persons own of
record. However, there is an oral agreement between Braddock
and the other Reporting Persons that Braddock will dispose
of his Shares proportionately with the other Reporting
Persons. As of December 31, 1997, each of LLC, GAP II and
GAPCO may be deemed to own beneficially an aggregate of
4,374,930 Shares or 11.3% of the issued and outstanding
Shares, and Braddock may be deemed to own beneficially an
aggregate of 245,830 Shares or 0.6% of the issued and
outstanding Shares. Each of LLC, GAP II and GAPCO has the
shared power to direct the vote and the shared power to
direct the disposition of the 4,374,930 Shares that may be
deemed to be owned beneficially by each of them, and
Braddock has the sole power to direct the vote and the sole
power to direct the disposition of the 245,830 Shares that
are owned beneficially by him.
Item 5. Ownership of Five Percent or Less of a Class
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another
Person
See Item 4.
Item 7. Identification and Classification of Subsidiary Which
Acquired the Security Being Reported on By the Parent
Holding Company
Not applicable.
<PAGE>
CUSIP No. 269246104 Page 8 of 9 pages
Item 8. Identification and Classification of Members of the Group
See Item 4.
Item 9. Notice of Dissolution of Group
Not applicable.
Item 10. Certification
Not applicable.
<PAGE>
CUSIP No. 269246104 Page 9 of 9 pages
SIGNATURES
After reasonable inquiry and to the best of my knowledge and
belief, we certify that the information set forth in this statement is true,
complete and correct.
Dated as of February 5, 1998.
GENERAL ATLANTIC PARTNERS, LLC
By: /s/ Nancy E. Cooper
--------------------------------------------------
Nancy E. Cooper,
a Managing Member
GENERAL ATLANTIC PARTNERS II, L.P.
By: GENERAL ATLANTIC PARTNERS, LLC
its General Partner
By: /s/ Nancy E. Cooper
--------------------------------------------------
Nancy E. Cooper,
a Managing Member
GAP COINVESTMENT PARTNERS, L.P.
By: /s/ Nancy E. Cooper
--------------------------------------------------
Nancy E. Cooper,
General Partner
By: /s/ Richard Braddock
--------------------------------------------------
Richard Braddock
