A New CMGi investment.
CMGI, SAP Invest $5 Mln in Atlanta Internet Firm, Paper Says
Bloomberg News
Jul 30 1999 4:12PM ET
Atlanta, July 30 (Bloomberg) -- CMGI Inc., an Internet investment company, and German software maker SAP AG invested $5 million in Intelligent/Digital Inc., a closely held Atlanta-based company that wants to develop an online marketplace where businesses could buy and sell supplies, the Atlanta Business Chronicle reported. Intelligent/Digital, which is less than a year old, received the investment earlier this year and said the money will be used to test and introduce its software for Internet commerce sites. While Internet auctions already exist, the company plans to introduce a service that would work like a stock exchange, with prices fluctuating based on supply and demand, the Chronicle said.
Two weeks ago, Cnet Inc., an online technology news service, and CMGI invested $20 million in Raging Bull Inc. to spur the growth of the investment Web site founded by three college students. (Atlanta Business Chronicle 1A 7/30 www.amcity.com/atlanta) |
