<ARTICLE> 5 <MULTIPLIER> 1,000 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> JUN-30-1999 <PERIOD-END> JUN-30-1999 <CASH> 164,719 <SECURITIES> 0 <RECEIVABLES> 2,424 <ALLOWANCES> 244 <INVENTORY> 0 <CURRENT-ASSETS> 169,296 <PP&E> 12,515 <DEPRECIATION> 1,828 <TOTAL-ASSETS> 192,466 <CURRENT-LIABILITIES> 15,306 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 58 <OTHER-SE> 173,389 <TOTAL-LIABILITY-AND-EQUITY> 192,466 <SALES> 5,474 <TOTAL-REVENUES> 5,474 <CGS> 0 <TOTAL-COSTS> 44,266 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 269 <INCOME-PRETAX> (37,657) <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (37,657) <EPS-BASIC> (1.91) <EPS-DILUTED> (1.91)