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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
------------
SCHEDULE 13G
(Amendment No. _2_)*
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)
IMPROVENET, INC.
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
--------------------------------------------------------------------------------
(Title of Class of Securities)
45321E106
--------------------------------------------------------------------------------
(CUSIP Number)
December 31, 2002
--------------------------------------------------------------------------------
(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 the
disclosures provided in a prior cover page.
The information required in 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).
Page 1 of 12 pages
CUSIP No. 45321E106 Page 2 of 12 Pages
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Alta Partners
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
California
--------------------------------------------------------------------------------
Please see Attachment A
5 SOLE VOTING POWER
-0-
--------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 2,322,803
OWNED BY --------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
WITH --------------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,322,803
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,322,803
----------------------------Please see Attachment A-----------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
EXIT FILING 4.4%
----------------------------Please see Attachment A-----------------------------
12 TYPE OF REPORTING PERSON*
IA
--------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
CUSIP No. 45321E106 Page 3 of 12 Pages
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Alta California Partners, L. P.
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
Please see Attachment A
5 SOLE VOTING POWER
-0-
--------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 2,322,803
OWNED BY --------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
WITH --------------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,322,803
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,322,803
----------------------------Please see Attachment A-----------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
EXIT FILING 4.4%
----------------------------Please see Attachment A-----------------------------
12 TYPE OF REPORTING PERSON*
PN
--------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
CUSIP No. 45321E106 Page 4 of 12 Pages
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Alta California Management Partners, L. P.
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
Please see Attachment A
5 SOLE VOTING POWER
-0-
--------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 2,322,803
OWNED BY --------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
WITH --------------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,322,803
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,322,803
----------------------------Please see Attachment A-----------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
EXIT FILING 4.4%
----------------------------Please see Attachment A-----------------------------
12 TYPE OF REPORTING PERSON*
PN
--------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
CUSIP No. 45321E106 Page 5 of 12 Pages
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Alta Embarcadero Partners, LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
California
--------------------------------------------------------------------------------
Please see Attachment A
5 SOLE VOTING POWER
-0-
--------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 2,322,803
OWNED BY --------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
WITH --------------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,322,803
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,322,803
----------------------------Please see Attachment A-----------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
EXIT FILING 4.4%
----------------------------Please see Attachment A-----------------------------
12 TYPE OF REPORTING PERSON*
CO
--------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
CUSIP No. 45321E106 Page 6 of 12 Pages
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Jean Deleage
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
Please see Attachment A
5 SOLE VOTING POWER
-0-
--------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 2,322,803
OWNED BY --------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
WITH --------------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,322,803
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,322,803
----------------------------Please see Attachment A-----------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
EXIT FILING 4.4%
----------------------------Please see Attachment A-----------------------------
12 TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
CUSIP No. 45321E106 Page 7 of 12 Pages
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Garrett Gruener
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
Please see Attachment A
5 SOLE VOTING POWER
30,000
--------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 2,322,803
OWNED BY --------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 30,000
WITH --------------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,322,803
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,352,803
----------------------------Please see Attachment A-----------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
EXIT FILING 4.4%
----------------------------Please see Attachment A-----------------------------
12 TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
CUSIP No. 45321E106 Page 8 of 12 Pages
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Guy Nohra
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
Please see Attachment A
5 SOLE VOTING POWER
-0-
--------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 2,322,803
OWNED BY --------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
WITH --------------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,322,803
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,322,803
----------------------------Please see Attachment A-----------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
EXIT FILING 4.4%
----------------------------Please see Attachment A-----------------------------
12 TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
Item 1.
(a) Name of Issuer: ImproveNet, Inc. ("Issuer")
(b) Address of Issuer's Principal Executive Offices:
1286 Oddstad Drive
Redwood City, CA 94063
Item 2.
(a) Name of Person Filing:
Alta Partners ("AP")
Alta California Partners, L.P. ("ACP")
Alta California Management Partners, L.P. ("ACMP")
Alta Embarcadero Partners, LLC ("AEP")
Jean Deleage ("JD")
Garrett Gruener ("GG")
Guy Nohra ("GN")
(b) Address of Principal Business Office:
One Embarcadero Center, Suite 4050
San Francisco, CA 94111
(c) Citizenship/Place of Organization:
Entities: AP - California
ACP - Delaware
ACMP Delaware
AEP California
Individuals: JD United States
GG United States
GN United States
(d) Title of Class of Securities: Common Stock
(e) CUSIP Number: 45321E106
Item 3. Not applicable.
Item 4 Ownership.
EXIT FILING
Alta Partners is no longer a 5% Shareholder - See Attachment A
------- ------------------ ----------- ----------- ------------ ----------- ------------- ------------ ------------
AP ACP ACMP AEP JD GG GN
------- ------------------ ----------- ----------- ------------ ----------- ------------- ------------ ------------
(a) Beneficial 2,322,803 2,322,803 2,322,803 2,322,803 2,322,803 2,352,803 2,322,803
Ownership
------- ------------------ ----------- ----------- ------------ ----------- ------------- ------------ ------------
(b) Percentage of 4.4% 4.4% 4.4% 4.4% 4.4% 4.4% 4.4%
Class
------- ------------------ ----------- ----------- ------------ ----------- ------------- ------------ ------------
(c) Sole Voting Power -0- -0- -0- -0- -0- 30,000 -0-
------- ------------------ ----------- ----------- ------------ ----------- ------------- ------------ ------------
Shared Voting 2,322,803 2,322,803 2,322,803 2,322,803 2,322,803 2,322,803 2,322,803
Power
------- ------------------ ----------- ----------- ------------ ----------- ------------- ------------ ------------
Sole Dispositive -0- -0- -0- -0- -0- 30,000 -0-
Power
------- ------------------ ----------- ----------- ------------ ----------- ------------- ------------ ------------
Shared 2,322,803 2,322,803 2,322,803 2,322,803 2,322,803 2,322,803 2,322,803
Dispositive Power
------- ------------------ ----------- ----------- ------------ ----------- ------------- ------------ ------------
Item 5. Ownership of Five Percent or Less of a Class
Exit Filing --- See Attachment A
Item 6. Ownership of More than Five Percent on Behalf of Another Person
Exit Filing --- See Attachment A
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
No reporting person is a member of a group as defined in Section
240.13d-1(b)(1)(ii)(H) of the Act.
Item 9. Notice of Dissolution of Group
Not applicable.
Item 10. Certification
By signing below we certify that, to the best of our knowledge and belief, the
securities referred to above were acquired and are held in the ordinary course
of business and 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.
EXHIBITS
A: Joint Filing Statement
Signature
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.
Date: February 5, 2003
ALTA PARTNERS ALTA CALIFORNIA PARTNERS, L.P.
By: Alta California Management
Partners, L.P.,
By: /s/ Jean Deleage By: /s/ Garrett Gruener
---------------------------------- ----------------------------
Jean Deleage, President Garrett Gruener,
General Partner
ALTA CALIFORNIA MANAGEMENT PARTNERS, L.P. ALTA EMBARCADERO PARTNERS, LLC
By: /s/ Garrett Gruener By: /s/ Garrett Gruener
---------------------------------- ----------------------------
Garrett Gruener, General Partner Garrett Gruener, Member
/s/ Jean Deleage /s/ Guy Nohra
-------------------------------------- --------------------------------
Jean Deleage Guy Nohra
/s/ Garrett Gruener
--------------------------------------
Garrett Gruener
EXHIBIT A
Date: February 5, 2003
Signature
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.
ALTA PARTNERS ALTA CALIFORNIA PARTNERS, L.P.
By: Alta California Management
Partners, L.P.,
By: /s/ Jean Deleage By: /s/ Garrett Gruener
---------------------------------- ----------------------------
Jean Deleage, President Garrett Gruener,
General Partner
ALTA CALIFORNIA MANAGEMENT PARTNERS, L.P. ALTA EMBARCADERO PARTNERS, LLC
By: /s/ Garrett Gruener By: /s/ Garrett Gruener
---------------------------------- ----------------------------
Garrett Gruener, General Partner Garrett Gruener, Member
/s/ Jean Deleage /s/ Guy Nohra
-------------------------------------- --------------------------------
Jean Deleage Guy Nohra
/s/ Garrett Gruener
--------------------------------------
Garrett Gruener
Attachment A
EXIT FILING
Alta Partners is no longer a 5% Shareholder
Alta Partners provides investment advisory services to several venture capital
funds including, Alta California Partners L.P. and Alta Embarcadero Partners,
LLC. Alta California Partners, L.P. beneficially owns 2,270,917 shares of Common
Stock. Alta Embarcadero Partners, LLC beneficially owns 51,886 shares of Common
Stock. The respective general partners and members of Alta California Partners
L.P. and Alta Embarcadero Partners exercise sole voting and investment power
with respect to the shares owned by such funds.
Certain principals of Alta Partners are general partners of Alta California
Management Partners, L.P. (which is a general partner of Alta California
Partners, L.P.), and members of Alta Embarcadero Partners, LLC. As general
partners and members of such funds, they may be deemed to share voting and
investment powers for the shares held by the funds. The principals of Alta
Partners disclaim beneficial ownership of all such shares held by the foregoing
funds, except to the extent of their proportionate pecuniary interests therein.
Mr. Garrett Gruener, a director of the Company, is a general partner of Alta
California Partners, L.P. and a member of Alta Embarcadero Partners, LLC. Thus
he shares voting and dispositive powers over the 2,270,917 shares of Common
Stock beneficially owned by Alta California Partners, L.P. and the 51,886 shares
of Common Stock beneficially owned by Alta Embarcadero Partners, LLC. Mr.
Gruener disclaims beneficial ownership of all such shares held by the foregoing
funds except to the extent of his proportionate pecuniary interests therein. Mr.
Gruener holds Stock Options for 30,000 shares of Common Stock. The stock option
for 20,000 shares was granted on 3/16/00 and it vests at a rate of 556 shares
per month commencing the grant date. The stock option for 5,000 shares was
granted on 8/18/01 and it vests at the rate of 416 shares per month commencing
the grant date. The stock option for 5,000 was granted on 6/8/02 and it vests at
the rate of 1/12th of the shares per month.
Mr. Jean Deleage is a general partner of Alta California Partners, L.P. and a
member of Alta Embarcadero Partners, LLC. Thus he shares voting and dispositive
powers over the 2,270,917 shares of Common Stock beneficially owned by Alta
California Partners, L.P. and the 51,886 shares of Common Stock beneficially
owned by Alta Embarcadero Partners, LLC. Mr. Deleage disclaims beneficial
ownership of all such shares held by the foregoing funds except to the extent of
his proportionate pecuniary interests therein.
Mr. Guy Nohra is a general partner of Alta California Partners, L.P. Thus he
shares voting and dispositive powers over the 2,270,917 shares of Common Stock
beneficially owned by Alta California Partners, L.P. Mr. Nohra disclaims
beneficial ownership of all such shares held by the foregoing fund except to the
extent of his proportionate pecuniary interests therein.
Alta Partners is a venture capital company with an office in San Francisco. Alta
Partners is California Corporation. Alta California Partners, L.P. is a Delaware
Limited Partnership and Alta Embarcadero Partners, LLC is a California Limited
Liability Company.