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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._______)*
iBasis, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
450732102
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(CUSIP Number)
November 10, 1999
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(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 14 Pages
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CUSIP NO. 450732102 13 G Page 2 of 14 Pages
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1 NAME OF REPORTING PERSON TCV III, L.P.
See Item 2 for identification of General Partner
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Tax ID Number:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ] (b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 5 SOLE VOTING POWER
SHARES 76,208(A)
BENEFICIALLY ------ ------------------------------------------
OWNED BY EACH 6 SHARED VOTING POWER
REPORTING 0(A)
PERSON ------ ------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
76,208(A)
------ ------------------------------------------
8 SHARED DISPOSITIVE POWER
0(A)
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 76,208(A)
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [X]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.2%
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12 TYPE OF REPORTING PERSON*
PN
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(A) Excludes an aggregate of 2,133,289 shares owned beneficially by the other
reporting persons indicated in this Schedule 13G, as to which this
reporting person disclaims beneficial ownership.
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CUSIP NO. 450732102 13 G Page 3 of 14 Pages
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1 NAME OF REPORTING PERSON TCV III (Q), L.P.
See Item 2 for identification of General Partner
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Tax ID Number:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 5 SOLE VOTING POWER
SHARES 2,025,520(A)
BENEFICIALLY ------ ------------------------------------------
OWNED BY EACH 6 SHARED VOTING POWER
REPORTING 0(A)
PERSON ------ ------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
2,025,520(A)
------ ------------------------------------------
8 SHARED DISPOSITIVE POWER
0(A)
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 2,025,520(A)
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [X]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.6%
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12 TYPE OF REPORTING PERSON*
PN
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(A) Excludes an aggregate of 183,977 shares owned beneficially by the other
reporting persons indicated in this Schedule 13G, as to which this
reporting person disclaims beneficial ownership.
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CUSIP NO. 450732102 13 G Page 4 of 14 Pages
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1 NAME OF REPORTING PERSON TCV III 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:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ] (b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 5 SOLE VOTING POWER
SHARES 91,725(A)
BENEFICIALLY ------ ------------------------------------------
OWNED BY EACH 6 SHARED VOTING POWER
REPORTING 0(A)
PERSON ------ ------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
91,725(A)
------ ------------------------------------------
8 SHARED DISPOSITIVE POWER
0(A)
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 91,725(A)
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [X]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.3%
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12 TYPE OF REPORTING PERSON*
PN
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(A) Excludes an aggregate of 2,117,772 shares owned beneficially by the other
reporting persons indicated in this Schedule 13G, as to which this
reporting person disclaims beneficial ownership.
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CUSIP NO. 450732102 13 G Page 5 of 14 Pages
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1 NAME OF REPORTING PERSON TCV III (GP)
See Item 2 for a list of Managing General Partners
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Tax ID Number:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ] (b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 5 SOLE VOTING POWER
SHARES 16,044(A)
BENEFICIALLY ------ ------------------------------------------
OWNED BY EACH 6 SHARED VOTING POWER
REPORTING 0(A)
PERSON ------ ------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
16,044(A)
------ ------------------------------------------
8 SHARED DISPOSITIVE POWER
0(A)
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 16,044(A)
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [X]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.1%
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12 TYPE OF REPORTING PERSON*
PN
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(A) Excludes an aggregate of 2,193,453 shares owned beneficially by the other
reporting persons indicated in this Schedule 13G, as to which this
reporting person disclaims beneficial ownership.
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CUSIP NO. 450732102 13 G Page 6 of 14 Pages
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1 NAME OF REPORTING PERSON TECHNOLOGY CROSSOVER MANAGEMENT III, L.L.C.
See Item 2 for a list of Managing Members
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Tax ID Number:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ] (b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 5 SOLE VOTING POWER
SHARES 2,209,497
BENEFICIALLY ------ ------------------------------------------
OWNED BY EACH 6 SHARED VOTING POWER
REPORTING 0
PERSON ------ ------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
2,209,497
------ ------------------------------------------
8 SHARED DISPOSITIVE POWER
0
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 2,209,497
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [X]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.2%
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12 TYPE OF REPORTING PERSON*
OO
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CUSIP NO. 450732102 13 G Page 7 of 14 Pages
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1 NAME OF REPORTING PERSON JAY C. HOAG
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Tax ID Number:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ] (b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S. Citizen
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NUMBER OF 5 SOLE VOTING POWER
SHARES 0
BENEFICIALLY ------ ------------------------------------------
OWNED BY EACH 6 SHARED VOTING POWER
REPORTING 2,209,497
PERSON ------ ------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
2,209,497
------ ------------------------------------------
8 SHARED DISPOSITIVE POWER
0
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 2,209,497
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.2%
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12 TYPE OF REPORTING PERSON*
IN
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CUSIP NO. 450732102 13 G Page 8 of 14 Pages
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1 NAME OF REPORTING PERSON RICHARD H. KIMBALL
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Tax ID Number:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ] (b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S. Citizen
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NUMBER OF 5 SOLE VOTING POWER
SHARES 0
BENEFICIALLY ------ ------------------------------------------
OWNED BY EACH 6 SHARED VOTING POWER
REPORTING 2,209,497
PERSON ------ ------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
2,209,497
------ ------------------------------------------
8 SHARED DISPOSITIVE POWER
0
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 2,209,497
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES* [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.2%
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12 TYPE OF REPORTING PERSON*
IN
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CUSIP NO. 450732102 13 G Page 9 of 14 Pages
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ITEM 1.
(a) NAME OF ISSUER: iBasis, Inc. (the "Company")
(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
20 Second Ave., Burlington, MA 01803.
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 III, L.P., a Delaware limited partnership ("TCV III, L.P.").
The General Partner of TCV III, L.P. is Technology Crossover
Management III, L.L.C., a Delaware limited liability company
("TCM III"). The sole Managing Members of TCM III are Jay C.
Hoag ("Hoag") and Richard H. Kimball ("Kimball").
(b) 575 High Street, Suite 400, Palo Alto, CA 94301
(c) Delaware
(d) Common Stock
(e) 450732102
II.
(a) TCV III (Q), L.P., a Delaware limited partnership ("TCV III
(Q)"). The General Partner of TCV III (Q) is TCM III.
(b) 575 High Street, Suite 400, Palo Alto, CA 94301
(c) Delaware
(d) Common Stock
(e) 450732102
III.
(a) TCV III Strategic Partners, L.P., a Delaware limited partnership
("TCV III Strategic Partners"). The General Partner of TCV III
Strategic Partners is TCM III.
(b) 575 High Street, Suite 400, Palo Alto, CA 94301
(c) Delaware
(d) Common Stock
(e) 450732102
IV.
(a) TCV III (GP), a Delaware general partnership ("TCV III (GP)").
The Managing General Partner of TCV III (GP) is TCM III.
(b) 575 High Street, Suite 400, Palo Alto, CA 94301
(c) Delaware
(d) Common Stock
(e) 450732102
V.
(a) Technology Crossover Management III, L.L.C., a Delaware limited
liability company.
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CUSIP NO. 450732102 13 G Page 10 of 14 Pages
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(b) 575 High Street, Suite 400, Palo Alto, CA 94301
(c) Delaware
(d) Common Stock
(e) 450732102
VI.
(a) Jay C. Hoag
(b) 575 High Street, Suite 400, Palo Alto, CA 94301
(c) U.S. Citizen
(d) Common Stock
(e) 450732102
VII.
(a) Richard H. Kimball
(b) 575 High Street, Suite 400, Palo Alto, CA 94301
(c) U.S. Citizen
(d) Common Stock
(e) 450732102
ITEM 3.
Not Applicable
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 Dispositive
Filing Person Beneficially Owned % of Class(1) Voting Power Power
- -------------------------- ------------------ -------------- ------------ -----------
<S> <C> <C> <C> <C>
TCV III, L.P.(2) 76,208 0.2% sole sole
TCV III (Q)(2) 2,025,520 6.6% sole sole
TCV III Strategic Partners(2) 91,725 0.3% sole sole
TCV III (GP)(2) 16,044 0.1% sole sole
TCM III 2,209,497 7.2% sole sole
Hoag(3) 2,209,497 7.2% shared sole
Kimball(3) 2,209,497 7.2% shared sole
</TABLE>
(1) All percentages in this table are based on the 30,538,353 shares of
Common Stock of the Company outstanding, as reported in the Company's
prospectus filed with the Securities and Exchange Commission on November
10, 1999 pursuant to Rule 424(b)(4) under the Securities Act of 1933, as
amended.
(2) Each noted entity (together, the "TCV III 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 III, as sole General Partner of TCV III, L.P., TCV III (Q), TCV III
(GP) and TCV III Strategic Partners, may also be deemed to have sole
voting and investment power with respect to such securities. TCM III
disclaims beneficial ownership of such securities except to the extent
of its pecuniary interest therein.
(3) Under the operating agreement of TCM III, 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,
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CUSIP NO. 450732102 13 G Page 11 of 14 Pages
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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 the TCV III Funds.
Hoag and Kimball disclaim beneficial ownership of such securities except
to the extent of their respective pecuniary interests therein.
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
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.
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CUSIP NO. 450732102 13 G Page 12 of 14 Pages
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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
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CUSIP NO. 450732102 13 G Page 13 of 14 Pages
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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: November 20, 1999
TCV III, L.P.
a Delaware Limited Partnership
By: /s/ Robert C. Bensky
--------------------------------------
Robert C. Bensky, Authorized Signatory
TCV III (Q), L.P.
a Delaware Limited Partnership
By: /s/ Robert C. Bensky
--------------------------------------
Robert C. Bensky, Authorized Signatory
TCV III STRATEGIC PARTNERS, L.P.
a Delaware Limited Partnership
By: /s/ Robert C. Bensky
--------------------------------------
Robert C. Bensky, Authorized Signatory
TCV III (GP)
a Delaware General Partnership
By: /s/ Robert C. Bensky
--------------------------------------
Robert C. Bensky, Authorized Signatory
TECHNOLOGY CROSSOVER MANAGEMENT III, L.L.C.
a Delaware Limited Liability Company
By: /s/ Robert C. Bensky
--------------------------------------
Robert C. Bensky, Authorized Signatory
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CUSIP NO. 450732102 13 G Page 14 of 14 Pages
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Jay C. Hoag
By: /s/ Robert C. Bensky
--------------------------------------
Robert C. Bensky, Authorized Signatory
Richard H. Kimball
By: /s/ Robert C. Bensky
--------------------------------------
Robert C. Bensky, Authorized Signatory
