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InfoSpace expects to bury rival
Allaire on track with projections
By David Wilkerson, CBS MarketWatch
Last Update: 2:25 PM ET Mar 1, 2000 Movers & Shakers
Silicon Stocks
SAN FRANCISCO (CBS.MW) -- Naveen Jain, chairman and chief executive of InfoSpace (INSP: news, msgs), said Monday that the company can meet or exceed most analysts' first-quarter estimates. According to First Call, analysts expect a loss of 12 cents a share. The company is a provider of content and e-commerce services.
At the Robertson Stephens Tech 2000 investment conference in San Francisco, Jain said InfoSpace's revenue growth has been driven by "solid execution." "Our business," he said, "is just doing very, very well." Jain added that rival Phone.com (PHCM: news, msgs) will be "out of business in two years," eliminated by what Jain called InfoSpace's superior wireless strategy.
The CEO said he agrees with industry analysts who estimate that no more than 10 percent of retail sales can come from the Internet. "E-tailing is just a glorified catalog," he said. Given this reality, Jain said, InfoSpace will be in good position because it provides e-commerce services to numerous bricks-and-mortar retailers.
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