<ARTICLE> 5 <PERIOD-TYPE> YEAR 9-MOS <FISCAL-YEAR-END> DEC-31-1996 DEC-31-1997 <PERIOD-START> JAN-01-1996 JAN-01-1997 <PERIOD-END> DEC-31-1996 SEP-30-1997 <CASH> 14,737,806 44,751,298 <SECURITIES> 4,857,163 22,897,196 <RECEIVABLES> 3,275,518 4,350,464 <ALLOWANCES> 383,350 688,572 <INVENTORY> 60,543 66,029 <CURRENT-ASSETS> 23,528,266 75,068,866 <PP&E> 3,462,153 6,953,498 <DEPRECIATION> 783,355 2,180,018 <TOTAL-ASSETS> 26,468,158 84,371,634 <CURRENT-LIABILITIES> 6,634,922 24,307,049 <BONDS> 0 959,380 <PREFERRED-MANDATORY> 23,153,494 49,277,652 <PREFERRED> 13,713 13,713 <COMMON> 535 1,543 <OTHER-SE> (3,334,506) (8,104,363) <TOTAL-LIABILITY-AND-EQUITY> 26,468,158 84,371,634 <SALES> 0 0 <TOTAL-REVENUES> 14,012,388 22,416,804 <CGS> 0 0 <TOTAL-COSTS> 2,185,524 4,608,661 <OTHER-EXPENSES> 15,843,408 27,567,116 <LOSS-PROVISION> 0 0 <INTEREST-EXPENSE> 0 0 <INCOME-PRETAX> (3,789,245) (8,574,716) <INCOME-TAX> 0 0 <INCOME-CONTINUING> (3,789,245) (8,574,716) <DISCONTINUED> 0 0 <EXTRAORDINARY> 0 0 <CHANGES> 0 0 <NET-INCOME> (3,789,245) (8,574,716) <EPS-PRIMARY> (0.14) (0.32) <EPS-DILUTED> 0 0