COPPER MOUNTAIN NETWORKS INC
SC 13G, 2000-01-31
TELEPHONE & TELEGRAPH APPARATUS
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<PAGE>   1
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  Schedule 13G
                                 (Rule 13d-102)

   INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1 (b),
         (c) AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2 (b)
                               (Amendment No. 1)*


                         Copper Mountain Networks, Inc.
 ------------------------------------------------------------------------------
                                (Name of Issuer)

                                  Common Stock
 ------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                    217510106
 ------------------------------------------------------------------------------
                                 (CUSIP Number)

                                December 31, 1999
 ------------------------------------------------------------------------------
           (Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

            [ ]  Rule 13d-1(b)

            [X]  Rule 13d-1(c)

            [ ]  Rule 13d-1(d)

*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 remainder 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).

                         (Continued on following pages)



                               Page 1 of 16 Pages



<PAGE>   2
CUSIP NO. 217510106                       13 G                Page 2 of 16 Pages

- --------------------------------------------------------------------------------
1        NAME OF REPORTING PERSON
         TCV II, V.O.F.
         See Item 2 for list of Managing General Partners
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

               Tax ID Number:
- --------------------------------------------------------------------------------
2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                         (a) [ ]        (b) [X]
- --------------------------------------------------------------------------------
3        SEC USE ONLY
- --------------------------------------------------------------------------------
4        CITIZENSHIP OR PLACE OF ORGANIZATION
               Netherlands Antilles
- --------------------------------------------------------------------------------
                         5     SOLE VOTING POWER
  NUMBER OF                    24,672(A)
    SHARES               -------------------------------------------------------
 BENEFICIALLY            6     SHARED VOTING POWER
OWNED BY EACH                  0(A)
  REPORTING              -------------------------------------------------------
    PERSON               7     SOLE DISPOSITIVE POWER
     WITH                      24,672(A)
                         -------------------------------------------------------
                         8     SHARED DISPOSITIVE POWER
                               0(A)
- --------------------------------------------------------------------------------
9        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
         REPORTING PERSON                                           24,672(A)
- --------------------------------------------------------------------------------
10       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
         EXCLUDES CERTAIN SHARES                                          [X]
- --------------------------------------------------------------------------------
11       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
                                                                            0.1%
- --------------------------------------------------------------------------------
12       TYPE OF REPORTING PERSON
         PN
- --------------------------------------------------------------------------------
(A)   Excludes an aggregate of 1,664,672 shares owned beneficially by the other
      reporting persons indicated in this Schedule 13G, as to which this
      reporting person disclaims beneficial ownership.


<PAGE>   3
CUSIP NO. 217510106                       13 G                Page 3 of 16 Pages

- --------------------------------------------------------------------------------
1        NAME OF REPORTING PERSON
         TECHNOLOGY CROSSOVER VENTURES II, L.P.
         See Item 2 for identification of General Partner
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

               Tax ID Number:
- --------------------------------------------------------------------------------
2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                         (a) [ ]        (b) [X]
- --------------------------------------------------------------------------------
3        SEC USE ONLY
- --------------------------------------------------------------------------------
4        CITIZENSHIP OR PLACE OF ORGANIZATION
               Delaware
- --------------------------------------------------------------------------------
                         5     SOLE VOTING POWER
  NUMBER OF                    759,536(A)
    SHARES               -------------------------------------------------------
 BENEFICIALLY            6     SHARED VOTING POWER
OWNED BY EACH                  0(A)
  REPORTING              -------------------------------------------------------
    PERSON               7     SOLE DISPOSITIVE POWER
     WITH                      759,536(A)
                         -------------------------------------------------------
                         8     SHARED DISPOSITIVE POWER
                               0(A)
- --------------------------------------------------------------------------------
9        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
         REPORTING PERSON                                           759,536(A)
- --------------------------------------------------------------------------------
10       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
         EXCLUDES CERTAIN SHARES                                          [X]
- --------------------------------------------------------------------------------
11       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
                                                                            1.6%
- --------------------------------------------------------------------------------
12       TYPE OF REPORTING PERSON
         PN
- --------------------------------------------------------------------------------

(A)  Excludes an aggregate of 929,808 shares owned beneficially by the other
     reporting persons indicated in this Schedule 13G, as to which this
     reporting person disclaims beneficial ownership.



<PAGE>   4

CUSIP NO. 217510106                       13 G                Page 4 of 16 Pages

- --------------------------------------------------------------------------------
1        NAME OF REPORTING PERSON
         TCV II (Q), L.P.
         See Item 2 for identification of General Partner
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

               Tax ID Number:
- --------------------------------------------------------------------------------
2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                         (a) [ ]        (b) [X]
- --------------------------------------------------------------------------------
3        SEC USE ONLY
- --------------------------------------------------------------------------------
4        CITIZENSHIP OR PLACE OF ORGANIZATION
               Delaware
- --------------------------------------------------------------------------------
                         5     SOLE VOTING POWER
  NUMBER OF                    583,940(A)
    SHARES               -------------------------------------------------------
 BENEFICIALLY            6     SHARED VOTING POWER
OWNED BY EACH                  0(A)
  REPORTING              -------------------------------------------------------
    PERSON               7     SOLE DISPOSITIVE POWER
     WITH                      583,940(A)
                         -------------------------------------------------------
                         8     SHARED DISPOSITIVE POWER
                               0(A)
- --------------------------------------------------------------------------------
9        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
         REPORTING PERSON                                           583,940(A)
- --------------------------------------------------------------------------------
10       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
         EXCLUDES CERTAIN SHARES                                          [X]
- --------------------------------------------------------------------------------
11       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
                                                                            1.2%
- --------------------------------------------------------------------------------
12       TYPE OF REPORTING PERSON
         PN
- --------------------------------------------------------------------------------

(A)  Excludes an aggregate of 1,105,404 shares owned beneficially by the other
     reporting persons indicated in this Schedule 13G, as to which this
     reporting person disclaims beneficial ownership.

<PAGE>   5
CUSIP NO. 217510106                       13 G                Page 5 of 16 Pages

- --------------------------------------------------------------------------------
1        NAME OF REPORTING PERSON
         TCV II STRATEGIC PARTNERS, L.P.
         See Item 2 for identification of General Partner
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

               Tax ID Number:
- --------------------------------------------------------------------------------
2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                         (a) [ ]        (b) [X]
- --------------------------------------------------------------------------------
3        SEC USE ONLY
- --------------------------------------------------------------------------------
4        CITIZENSHIP OR PLACE OF ORGANIZATION
               Delaware
- --------------------------------------------------------------------------------
                         5     SOLE VOTING POWER
  NUMBER OF                    103,630(A)
    SHARES               -------------------------------------------------------
 BENEFICIALLY            6     SHARED VOTING POWER
OWNED BY EACH                  0(A)
  REPORTING              -------------------------------------------------------
    PERSON               7     SOLE DISPOSITIVE POWER
     WITH                      103,630(A)
                         -------------------------------------------------------
                         8     SHARED DISPOSITIVE POWER
                               0(A)
- --------------------------------------------------------------------------------
9        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
         REPORTING PERSON                                           103,630(A)
- --------------------------------------------------------------------------------
10       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
         EXCLUDES CERTAIN SHARES                                          [X]
- --------------------------------------------------------------------------------
11       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
                                                                            0.2%
- --------------------------------------------------------------------------------
12       TYPE OF REPORTING PERSON
         PN
- --------------------------------------------------------------------------------

(A)  Excludes an aggregate of 1,585,714 shares owned beneficially by the other
     reporting persons indicated in this Schedule 13G, as to which this
     reporting person disclaims beneficial ownership.
<PAGE>   6
CUSIP NO. 217510106                       13 G                Page 6 of 16 Pages

- --------------------------------------------------------------------------------
1        NAME OF REPORTING PERSON
         TECHNOLOGY CROSSOVER VENTURES II, C.V.
         See Item 2 for identification of General Partners
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

               Tax ID Number:
- --------------------------------------------------------------------------------
2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                         (a) [ ]        (b) [X]
- --------------------------------------------------------------------------------
3        SEC USE ONLY
- --------------------------------------------------------------------------------
4        CITIZENSHIP OR PLACE OF ORGANIZATION
               Netherlands Antilles
- --------------------------------------------------------------------------------
                         5     SOLE VOTING POWER
  NUMBER OF                    115,968(A)
    SHARES               -------------------------------------------------------
 BENEFICIALLY            6     SHARED VOTING POWER
OWNED BY EACH                  0(A)
  REPORTING              -------------------------------------------------------
    PERSON               7     SOLE DISPOSITIVE POWER
     WITH                      115,968(A)
                         -------------------------------------------------------
                         8     SHARED DISPOSITIVE POWER
                               0(A)
- --------------------------------------------------------------------------------
9        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
         REPORTING PERSON                                           115,968(A)
- --------------------------------------------------------------------------------
10       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
         EXCLUDES CERTAIN SHARES                                          [X]
- --------------------------------------------------------------------------------
11       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
                                                                            0.2%
- --------------------------------------------------------------------------------
12       TYPE OF REPORTING PERSON
         PN
- --------------------------------------------------------------------------------

(A)  Excludes an aggregate of 1,573,376 shares owned beneficially by the other
     reporting persons indicated in this Schedule 13G, as to which this
     reporting person disclaims beneficial ownership.



<PAGE>   7

CUSIP NO. 217510106                       13 G                Page 7 of 16 Pages

- --------------------------------------------------------------------------------
1        NAME OF REPORTING PERSON
         TECHNOLOGY CROSSOVER MANAGEMENT II, L.L.C.
         See Item 2 for list of Managing Members
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

               Tax ID Number:
- --------------------------------------------------------------------------------
2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                         (a) [ ]        (b) [X]
- --------------------------------------------------------------------------------
3        SEC USE ONLY
- --------------------------------------------------------------------------------
4        CITIZENSHIP OR PLACE OF ORGANIZATION
               Delaware
- --------------------------------------------------------------------------------
                         5     SOLE VOTING POWER
  NUMBER OF                    1,587,746(A)
    SHARES               -------------------------------------------------------
 BENEFICIALLY            6     SHARED VOTING POWER
OWNED BY EACH                  0(A)
  REPORTING              -------------------------------------------------------
    PERSON               7     SOLE DISPOSITIVE POWER
     WITH                      1,587,746(A)
                         -------------------------------------------------------
                         8     SHARED DISPOSITIVE POWER
                               0(A)
- --------------------------------------------------------------------------------
9        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
         REPORTING PERSON                                           1,587,746(A)
- --------------------------------------------------------------------------------
10       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
         EXCLUDES CERTAIN SHARES                                          [X]
- --------------------------------------------------------------------------------
11       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
                                                                            3.4%
- --------------------------------------------------------------------------------
12       TYPE OF REPORTING PERSON
         OO
- --------------------------------------------------------------------------------

(A)  Excludes an aggregate of 101,598 shares owned beneficially by the other
     reporting persons indicated in this Schedule 13G, as to which this
     reporting person disclaims beneficial ownership.



<PAGE>   8
CUSIP NO. 217510106                       13 G                Page 8 of 16 Pages

- --------------------------------------------------------------------------------
1        NAME OF REPORTING PERSON
         JAY C. HOAG
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

               Tax ID Number:
- --------------------------------------------------------------------------------
2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                         (a) [ ]        (b) [X]
- --------------------------------------------------------------------------------
3        SEC USE ONLY
- --------------------------------------------------------------------------------
4        CITIZENSHIP OR PLACE OF ORGANIZATION
               U.S. Citizen
- --------------------------------------------------------------------------------
                         5     SOLE VOTING POWER
  NUMBER OF                    0(A)
    SHARES               -------------------------------------------------------
 BENEFICIALLY            6     SHARED VOTING POWER
OWNED BY EACH                  1,587,746(A)
  REPORTING              -------------------------------------------------------
    PERSON               7     SOLE DISPOSITIVE POWER
     WITH                      1,587,746(A)
                         -------------------------------------------------------
                         8     SHARED DISPOSITIVE POWER
                               0(A)
- --------------------------------------------------------------------------------
9        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
         REPORTING PERSON                                           1,587,746(A)
- --------------------------------------------------------------------------------
10       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
         EXCLUDES CERTAIN SHARES                                          [X]
- --------------------------------------------------------------------------------
11       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
                                                                            3.4%
- --------------------------------------------------------------------------------
12       TYPE OF REPORTING PERSON
         IN
- --------------------------------------------------------------------------------

(A)  Excludes an aggregate of 101,598 shares beneficially owned by the other
     reporting persons indicated in this Schedule 13G, as to which this
     reporting person disclaims beneficial ownership.


<PAGE>   9
CUSIP NO. 217510106                       13 G                Page 9 of 16 Pages

- --------------------------------------------------------------------------------
1        NAME OF REPORTING PERSON
         RICHARD H. KIMBALL
         I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

               Tax ID Number:
- --------------------------------------------------------------------------------
2        CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                         (a) [ ]        (b) [X]
- --------------------------------------------------------------------------------
3        SEC USE ONLY
- --------------------------------------------------------------------------------
4        CITIZENSHIP OR PLACE OF ORGANIZATION
               U.S. Citizen
- --------------------------------------------------------------------------------
                         5     SOLE VOTING POWER
  NUMBER OF                    101,598(A)
    SHARES               -------------------------------------------------------
 BENEFICIALLY            6     SHARED VOTING POWER
OWNED BY EACH                  1,587,746
  REPORTING              -------------------------------------------------------
    PERSON               7     SOLE DISPOSITIVE POWER
     WITH                      1,689,344
                         -------------------------------------------------------
                         8     SHARED DISPOSITIVE POWER
                               0
- --------------------------------------------------------------------------------
9        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
         REPORTING PERSON                                              1,689,344
- --------------------------------------------------------------------------------
10       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
         EXCLUDES CERTAIN SHARES                                          [ ]
- --------------------------------------------------------------------------------
11       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
                                                                            3.6%
- --------------------------------------------------------------------------------
12       TYPE OF REPORTING PERSON
         IN
- --------------------------------------------------------------------------------

(A)  Excludes an aggregate of 1,587,746 shares beneficially owned by the other
     reporting persons indicated in this Schedule 13G, as to which this
     reporting person disclaims beneficial ownership.

<PAGE>   10
CUSIP NO. 217510106                       13 G               Page 10 of 16 Pages


ITEM 1.

            (a)   NAME OF ISSUER:   Copper Mountain Networks, Inc.
            (b)   ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
                  2470 Embarcadero Way, Palo Alto, California 94303.

ITEM 2.

      Set forth below is the following information with respect to each of the
persons filing this Schedule 13G (together, the "Filing Persons"): (a) name; (b)
address of principal offices (if entity) or residence or business address (if
individual); (c) citizenship (if individual) or jurisdiction of organization (if
entity); (d) title of class of securities and (e) CUSIP number.

      I.
            (a)   TCV II, V.O.F., a Netherlands Antilles general partnership
                  ("TCV II, V.O.F.").  The Managing General Partners of TCV
                  II, V.O.F. are Technology Crossover Management II, L.L.C.,
                  a Delaware limited liability company ("TCM II") and
                  Technology Crossover Administrator II, N.V., a Netherlands
                  Antilles corporation ("TCA II").  The sole Managing Members
                  of TCM II are Jay C. Hoag ("Hoag") and Richard H. Kimball
                  ("Kimball").  TCA II is ultimately controlled by Hoag and
                  Kimball.
            (b)   Pietermaai 15, Willemstad, Curacao, Netherlands Antilles
            (c)   Netherlands Antilles
            (d)   Common Stock
            (e)   217510106

      II.
            (a)   Technology Crossover Ventures II, L.P., a Delaware limited
                  partnership ("TCV II, L.P.").  The General Partner of TCV
                  II, L.P. is TCM II.
            (b)   575 High Street, Suite 400, Palo Alto, CA 94301
            (c)   Delaware
            (d)   Common Stock
            (e)   217510106

      III.
            (a)   TCV II (Q), L.P., a Delaware limited partnership ("TCV II
                  (Q)").  The General Partner of TCV II (Q) is TCM II.
            (b)   575 High Street, Suite 400, Palo Alto, CA 94301
            (c)   Delaware
            (d)   Common Stock
            (e)   217510106

<PAGE>   11
CUSIP NO. 217510106                       13 G               Page 11 of 16 Pages

      IV.
            (a)   TCV II Strategic Partners, L.P., a Delaware limited
                  partnership ("TCV II SP").  The General Partner of TCV II
                  Strategic Partners is TCM II.
            (b)   575 High Street, Suite 400, Palo Alto, CA 94301
            (c)   Delaware
            (d)   Common Stock
            (e)   217510106

      V.
            (a)   Technology Crossover Ventures II, C.V., a Netherlands
                  Antilles limited partnership ("TCV II, C.V.").  The
                  Managing General Partners of TCV II, C.V. are TCM II and
                  TCA II.
            (b)   Pietermaai 15, Willemstad, Curacao, Netherlands Antilles
            (c)   Netherlands Antilles
            (d)   Common Stock
            (e)   217510106
      VI.
            (a)   Technology Crossover Management II, L.L.C., a Delaware
                  limited liability company.
            (b)   575 High Street, Suite 400, Palo Alto, CA 94301
            (c)   Delaware
            (d)   Common Stock
            (e)   217510106

      VII.
            (a)   Jay C. Hoag
            (b)   575 High Street, Suite 400, Palo Alto, CA 94301
            (c)   U.S. Citizen
            (d)   Common Stock
            (e)   217510106

      VIII.
            (a)   Richard H. Kimball
            (b)   575 High Street, Suite 400, Palo Alto, CA 94301
            (c)   U.S. Citizen
            (d)   Common Stock
            (e)   217510106

ITEM 3.

      Not Applicable


<PAGE>   12

CUSIP NO. 217510106                       13 G               Page 12 of 16 Pages



ITEM 4.

      (a), (b) and (c) This Schedule 13G shall not be construed as an admission
that any Filing Person is, either for purposes of Section 13(d) or 13(g) of the
Act or for other purposes, the beneficial owner of any Common Stock disclosed in
this Schedule 13G. The aggregate number and percentage of the class of
securities identified pursuant to Item 1 of this Schedule 13G that, pursuant to
Rule 13d-3, may be deemed to be beneficially owned by each Filing Person are as
follows:

<TABLE>
<CAPTION>
                          Common Stock
                          Beneficially    % of Class                  Dispositive
    Filing Person            Owned            (1)       Voting Power    Power
    -------------         ------------    ----------    ------------  -----------
<S>                       <C>             <C>           <C>           <C>
TCV II, V.O.F. (2)             24,672          0.1%         sole         sole
TCV II, L.P. (2)              759,536          1.6%         sole         sole
TCV II (Q) (2)                583,940          1.2%         sole         sole
TCV II SP (2)                 103,630          0.2%         sole         sole
TCV II, C.V. (2)              115,968          0.2%         sole         sole
TCM II                      1,587,746          3.4%         sole         sole
Hoag (3)                    1,587,746          3.4%        shared        sole
Kimball (3)                 1,689,344          3.6%        shared(4)     sole
</TABLE>


                  (1)   All percentages in this table are based on the
                        47,017,184 shares of Common Stock of the Company
                        outstanding, as reported in the Company's current report
                        on Form 8-K filed with the Securities and Exchange
                        Commission on November 10, 1999.

                  (2)   Each noted entity (together, the "TCV II Funds") is the
                        holder of record of the securities set forth opposite
                        the name of such entity and has sole voting and
                        investment power with respect to such securities. TCM
                        II, as sole General Partner of TCV II, L.P., TCV II (Q)
                        and TCV II SP, and as Investment General Partner of TCV
                        II, V.O.F. and TCV II, C.V., may also be deemed to have
                        sole voting and investment power with respect to such
                        securities. TCM II disclaims beneficial ownership of
                        such securities except to the extent of its pecuniary
                        interest therein.

                  (3)   Under the operating agreement of TCM II, Hoag and
                        Kimball have the independent power to cause the funds
                        managed by such entity to buy and sell securities of
                        publicly traded portfolio companies, however, in
                        general, they must act by unanimous consent with respect
                        to all other matters, including directing the voting of
                        such securities. As a result, Hoag and Kimball may also
                        be deemed to have sole dispositive power and shared
                        voting power with respect to the securities held by TCV
                        II Funds. Hoag and Kimball disclaim beneficial ownership
                        of such securities except to the extent of their
                        respective pecuniary interests therein.

                  (4)   Kimball shares voting power over an aggregate of
                        1,587,746 shares with Hoag. Kimball possesses sole
                        voting power over 101,598 shares.

ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

      If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities check the following [X].
<PAGE>   13
CUSIP NO. 217510106                       13 G               Page 13 of 16 Pages



ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON

      Not Applicable.

ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
        SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY

      Not Applicable.

ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

      This Schedule 13G is being filed jointly pursuant to Rule 13d-1(k). As a
result of the relationships among the Filing Persons described herein, some or
all of the Filing Persons may be deemed to comprise a "group" within the meaning
of Section 13 and the Rules promulgated thereunder. However, the Filing Persons
deny such group status.

ITEM 9. NOTICE OF DISSOLUTION OF GROUP

      Not Applicable.

ITEM 10. CERTIFICATION

      By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.



<PAGE>   14
CUSIP NO. 217510106                       13 G               Page 14 of 16 Pages



                        MATERIAL TO BE FILED AS EXHIBITS


      The following exhibit was filed as Exhibit A to the Schedule 13D relating
to the Common Stock of Digital Generation Systems, Inc. filed by the undersigned
with the Securities and Exchange Commission on September 5, 1997 and is hereby
incorporated herein by reference, as updated by Exhibit B hereto:

      Exhibit A - Statement Appointing Designated Filer and Authorized Signer
dated September 5, 1997

      The following exhibit was filed as Exhibit B to the Schedule 13G relating
to the Common Stock of PSW Technologies, Inc. filed by the undersigned with the
Securities and Exchange Commission on October 23, 1998 and is hereby
incorporated herein by reference:

      Exhibit B - October 23, 1998 Update to Exhibit A to the Designated Filer
Statement



<PAGE>   15
CUSIP NO. 217510106                       13 G               Page 15 of 16 Pages


                                   SIGNATURES


      After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.





Dated:  January 28, 2000               TCV II, V.O.F.,
                                       a Netherlands Antilles General
                                       Partnership


                                       By:   /s/  Robert C. Bensky
                                             -----------------------------------
                                             Robert C. Bensky
                                             Authorized Signatory


Dated:  January 28, 2000               TECHNOLOGY CROSSOVER VENTURES II,
                                       L.P., a Delaware Limited Partnership


                                       By:   /s/  Robert C. Bensky
                                             -----------------------------------
                                             Robert C. Bensky
                                             Authorized Signatory


Dated:  January 28, 2000               TCV II (Q), L.P.,
                                       a Delaware Limited Partnership


                                       By:   /s/  Robert C. Bensky
                                             -----------------------------------
                                             Robert C. Bensky
                                             Authorized Signatory


Dated:  January 28, 2000               TCV II STRATEGIC PARTNERS, L.P.,
                                       a Delaware Limited Partnership


                                       By:   /s/  Robert C. Bensky
                                             -----------------------------------
                                             Robert C. Bensky
                                             Authorized Signatory
<PAGE>   16
CUSIP NO. 217510106                       13 G               Page 16 of 16 Pages



Dated:  January 28, 2000               TECHNOLOGY CROSSOVER VENTURES II,
                                       C.V., a Netherlands Antilles Limited
                                       Partnership


                                       By:   /s/  Robert C. Bensky
                                             -----------------------------------
                                             Robert C. Bensky
                                             Authorized Signatory


Dated:  January 28, 2000               TECHNOLOGY CROSSOVER MANAGEMENT II,
                                       L.L.C., a Delaware Limited Liability
                                       Company


                                       By:   /s/  Robert C. Bensky
                                             -----------------------------------
                                             Robert C. Bensky
                                             Authorized Signatory


Dated:  January 28, 2000               JAY C. HOAG


                                       By:   /s/  Robert C. Bensky
                                             -----------------------------------
                                             Robert C. Bensky
                                             Authorized Signatory


Dated:  January 28, 2000               RICHARD H. KIMBALL


                                       By:   /s/  Robert C. Bensky
                                             -----------------------------------
                                             Robert C. Bensky
                                             Authorized Signatory



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