Freemarkets IPO Due Tomorrow: Release says FMKT Uses ODIS Ecommerce Software
Business to business auction company FreeMarkets (FMKT is expected to offer its IPO tomorrow morning. FreeMarkets operates real-time, B2B online auctions for companies buying custom industrial components, chemicals, and commodities such as coal and steel.
It uses its BidWare software to link buyers with sellers in
timed, reverse auctions in which suppliers place bids to fill an order. The company's clients have included PepsiCo, United Technologies, and General Motors among others. According to Hoovers, FMKT actually earned a profit last year- making it one of the few online companies to reach early profitability.
If FMKT rockets as expected one small cap that may get some attention may be ecommerce provider Object Design (ODIS). In last month's earnings release the CEO points out several new and (presumably) as yet unannounced partners using its ecommerce software including, you guessed it, FMKT-
"Goldman also noted that the company's ObjectStore data management product continues to be adopted by companies and independent software vendors (ISV's) for eBusiness, telecommunications, and other high-end applications.
``We had a number of ObjectStore successes during the quarter, including major eBusiness deployments at companies such as Cendant, the world's largest hotel franchiser; FairMarket, an online auction service provider; FreeMarkets Online, operators of an online auction site for industrial materials"
NOTE: Underwriter blue chippers Goldman Sachs and Morgan Stanley have raised the expected FMKT's range from 16-18 all the way up to 40-42 due to demand. FMKT's closest comparison may be Commerce One (CMRC), which also offers b2b auctions. CMRC trading as high as 423 today. |
