<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)*
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)
December 31, 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
<PAGE> 2
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 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
Delaware
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 71,034(A)
SHARES -------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY EACH 0(A)
REPORTING -------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH 71,034(A)
-------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0(A)
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 71,034(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 1,988,463 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. 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 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
Delaware
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 1,888,010(A)
SHARES -------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY EACH 0(A)
REPORTING -------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH 1,888,010(A)
-------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0(A)
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 1,888,010(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
6.2%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
(A) Excludes an aggregate of 171,487 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. 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 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
Delaware
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 85,498(A)
SHARES -------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY EACH 0(A)
REPORTING -------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH 85,498(A)
-------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0(A)
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 85,498(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
0.3%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
(A) Excludes an aggregate of 1,973,999 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. 450732102 13 G Page 5 of 14 Pages
- --------------------------------------------------------------------------------
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:
- --------------------------------------------------------------------------------
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 14,955(A)
SHARES -------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY EACH 0(A)
REPORTING -------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH 14,955(A)
-------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0(A)
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 14,955(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
0.0%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
PN
- --------------------------------------------------------------------------------
(A) Excludes an aggregate of 2,044,542 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. 450732102 13 G Page 6 of 14 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
TECHNOLOGY CROSSOVER MANAGEMENT III, L.L.C.
See Item 2 for a 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
Delaware
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 2,059,497
SHARES -------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY EACH 0
REPORTING -------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH 2,059,497
-------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 2,059,497
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.7%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
OO
- --------------------------------------------------------------------------------
<PAGE> 7
CUSIP NO. 450732102 13 G Page 7 of 14 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
SHARES -------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY EACH 2,059,497
REPORTING -------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH 2,059,497
-------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 2,059,497
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.7%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 8
CUSIP NO. 450732102 13 G Page 8 of 14 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 0
SHARES -------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY EACH 2,059,497
REPORTING -------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH 2,059,497
-------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 2,059,497
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.7%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 9
CUSIP NO. 450732102 13 G Page 9 of 14 Pages
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 SP"). The General Partner of TCV III SP 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
<PAGE> 10
CUSIP NO. 450732102 13 G Page 10 of 14 Pages
V.
(a) Technology Crossover Management III, L.L.C., a Delaware limited
liability company.
(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
Beneficially % of Class Voting Dispositive
Filing Person Owned (1) Power Power
------------- ------------ ---------- ----- -----------
<S> <C> <C> <C> <C>
TCV III, L.P. (2) 71,034 0.2% sole sole
TCV III (Q) (2) 1,888,010 6.2% sole sole
TCV III SP (2) 85,498 0.3% sole sole
TCV III (GP) (2) 14,955 0.0% sole sole
TCM III 2,059,497 6.7% sole sole
Hoag (3) 2,059,497 6.7% shared sole
Kimball (3) 2,059,497 6.7% 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.
<PAGE> 11
CUSIP NO. 450732102 13 G Page 11 of 14 Pages
(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), and TCV III Strategic
Partners, and the Managing General Partner of TCV III (GP), 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, 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.
<PAGE> 12
CUSIP NO. 450732102 13 G Page 12 of 14 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
The following exhibit was filed as Exhibit C to the Schedule 13G relating
to the Common Stock of CacheFlow, Inc. filed by the undersigned with the
Securities and Exchange Commission on November 29, 1999 and is hereby
incorporated herein by reference:
Exhibit C -- Agreement to file Jointly and Statement Appointing
Authorized Signatory.
<PAGE> 13
CUSIP NO. 450732102 13 G Page 13 of 14 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 III, L.P.
a Delaware Limited Partnership
By: /s/ Robert C. Bensky
-----------------------------------
Robert C. Bensky, Authorized
Signatory
Dated: January 28, 2000 TCV III (Q), L.P.
a Delaware Limited Partnership
By: /s/ Robert C. Bensky
-----------------------------------
Robert C. Bensky, Authorized
Signatory
Dated: January 28, 2000 TCV III STRATEGIC PARTNERS, L.P.
a Delaware Limited Partnership
By: /s/ Robert C. Bensky
-----------------------------------
Robert C. Bensky, Authorized
Signatory
Dated: January 28, 2000 TCV III (GP)
a General Partnership
By: /s/ Robert C. Bensky
-----------------------------------
Robert C. Bensky, Authorized
Signatory
Dated: January 28, 2000 TECHNOLOGY CROSSOVER MANAGEMENT III,
L.L.C.
a Delaware Limited Liability Company
By: /s/ Robert C. Bensky
-----------------------------------
Robert C. Bensky, Authorized
Signatory
<PAGE> 14
CUSIP NO. 450732102 13 G Page 14 of 14 Pages
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
