I can't give you a good reason for the underperformance, but here is some of the DD I did on ISLD a while back to justify holding it. Be prepared it's long:
This is what I could come up with for continuing to hold onto Digital Island. I've bolded what I think are important points and added a few notes in between articles.
One thing that keeps being pointed out with the difference between Akami and Digital Island's approach is that security is easier to control on their network because it is an intranet model (at least for the e-commerce portion of their business). I don't know if that claim can be supported, at least it might be argued. Their big selling point for e-commerce is that there is reduced wait time for transactions with higher security. Later there is an article that talks about speed advantages of their network once you leave the US ...they target global businesses for the e-commerce services.
=======================================================================================
Content Distribution & Delivery Systems Market to Reach $6 Billion By 2004, Study Finds New Report From Internet
Research Group Details Market Growth, Business Models, Vendors, and Strategies
PR NEWSWIRE - February 28, 2000 09:01
LOS ALTOS, Calif., Feb 28, 2000 /PRNewswire via COMTEX/ -- Major Web portals and content providers seeking
better quality of service for their customers will lead to a Content distribution and delivery (CDD) services market worth $6
billion by 2004, according to a new research report published today by Internet Research Group.
The 2000 Content Delivery & Distribution Report is the first comprehensive study of the booming market for CDD services,
which now boasts more than 50 vendors, including Akamai Technologies, Cidera, Digital Island/Sandpiper, iBeam
Broadcasting, and Mirror Image Internet. The 250-page report details CDD technologies, applications, business models, and
vendors, and shows how major content providers like Yahoo, Disney, and others are using CDD services to speed content
delivery and reliability to their customers over an increasingly crowded Internet.
"Content delivery networks are what the Internet would look like if you could redesign it to optimize performance and cost," said Peter Christy, vice president of research services for Internet Research Group. "Content delivery services have reminded us that eight-second Web page fetch times are pretty awful if the goal is keeping people productive. Moving the content to the 'edges' of the Internet speeds delivery and also turns out to be a less expensive way of getting the job done. Anyone in business on the Internet needs to be concerned with access performance. It looks like the cost improvements that come from CDD services will make a big difference in the practicality of using high-bandwidth streaming media on the Web. These services are going to make today's Internet faster, and they will enable a lot of new and exciting applications."
Content distribution and delivery technology works by moving popular or valuable content out to the "edges" of the Internet,near to the consumers, typically by leveraging Internet caching systems, and then by providing some means of directing requests for content to the optimal cache. Because the requests are for "closer" content, access performance and content availability improve very significantly.
Vendors Rush to Define New Market
At less than a year old, the CDD market already has more than 50 vendors offering services, products, and technologies in the space. The 2000 Content Delivery & Distribution Report offers detailed profiles of these vendors, and also includes information about the various business models that vendors are pursuing to generate revenues.
"With more than $10 billion dollars at stake over the next five years, a lot of companies will be combining existing
technologies and coming up with new solutions in order to get a piece of this market," said John Katsaros, president of Internet Research Group. "Our report helps all players understand the landscape and plan strategies to profit from it."
"As the leading supplier of caching and content distribution technology, we are seeing content delivery emerge as a major growth market segment," said Peter Galvin, vice president of marketing for Inktomi's Network Products Group. "The Inktomi Traffic Server cache platform, which commands a 45% market share at the system level according to IRG's September 1999 cache market study, serves as a platform for a broad range of advanced network services for the service provider and enterprise markets."
About Internet Research Group
Internet Research Group is the leading consulting, market research, and information services firm focused exclusively on Internet infrastructure technologies for e-business and e-commerce.
SOURCE Internet Research Group
(C) 2000 PR Newswire. All right
=======================
bear sterns has had a 200 target on
by: shalom66 (M/Uranus) 2/28/00 11:41 am
Msg: 13074 of 13086
ISLD for months. Harmon mentioned that an ISLD EXDS merger would be a good idea. That's it. The trades
going through are small retail, i.e. 200 or so at a time.
==================================
Here is an excerpt from Steve Harmon's e-mail this morning:
Hello Steve,
What do you think of VIGN? Also do you think that EXDS can reach the
size of
CSCO or SUNW?
Thanks
Oliver
Harmon: Vignette (VIGN) platform for publishing has a lot of potential
across many verticals. The market cap at $13 billion looks frothy,
however.
Exodus (EXDS) has been a favorite of mine for 2 « years. Its future to me
relies on services and not data centers. EXDS could reach a Cisco or Sun
level if it can turn its data hosting into services. Also, Exodus should
consider consolidating the hosting sector, with companies like Digital
Island (ISLD) a natural fit in my opinion.
-----------------------
To: DOUG H who wrote (1480)
From: Frost Byte Friday, Feb 25, 2000 9:14 AM ET
Reply # of 1485
Weisel puts $155 target and BUY on ISLD:
08:34am EST 25-Feb-00 Thomas Weisel Partners LLC (Jim Linnehan 212-271-3751) ISLD:(TWP) Funding Flurry
Post-Follow On (Pt 1/2)February 25, 2000 Thomas Weisel Partners LLCTelecommunication Services DIGITAL ISLAND
INC.(1,2)-BUYJim Linnehan212.271.3751 FUNDING FLURRY POST-FOLLOW ON jlinnehan@tweisel.com
NASDAQ: ISLD-$108-5/16Kevin Monroe212.271.3767 kmonroe@tweisel.com
INVESTMENT THESISWith the end of a quiet period related to Digital Island's recent financing,we are reiterating our BUY
recommendation and calendar year-end 2000 pricetarget of $155. Our $155 price target is based on a 35x multiple to
our $363million calendar year 2002 revenue estimate discounted back to year-end 2000using a 15% discount rate.
As highlighted above, we believe Digital Islandhas put the strategic pieces in place to provide a compelling solution
tobusinesses that seek to deploy an e*business strategy. We believe there is avast market potential for companies such as Digital Island that are enabling e*business. We believe shares of Digital Island are currently trading at attractive levels based on our revenue multiple analysis and a multiple comparison to its closest competitor, Akamai Technologies. The following table highlights Digital Island and some of its competitors' current market capitalization to revenue multiples based on current prices. Importantly, at our $155 year-end2000 price target, Digital Island would be trading at roughly 62x our calendaryear 2001 revenue estimate versus Akamai's current 163x multiple.
Digital Island Multiple Comparison:
Calendar Year Estimates
Company Description: Digital Island designed and operates the first global Internet protocol applications network dedicated to deploying mission-criticalbusiness applications and Internet content worldwide. Clients typically are multinationalcorporations who rely on the Internet to conduct business, but are constrained by the unreliability, slow performance and lack of scalability of the public Internet.
INFRASTRUCTURE FOR E*BUSINESSWith the recent completion of its acquisition of Live-On-Line and SandpiperNetworks, we believe Digital Island is extremely well positioned in the fastgrowing Internet infrastructure market.
Additionally, we look favorably on Digital Island's strategic alliances with both Sun Microsystems and Inktomi to deploy 5,000 Sun servers equipped with Inktomi caching technology across 350 major metropolitan markets. We also look favorably on the Company's Internet routing technology purchase from SRI International. We believe the Digital Island shares are attractive at current levels as the Company is poised to benefit from its unique offering to businesses thatseek to capitalize on the fast growing e*commerce opportunity. This belief isbased on several factors. * A Compelling e*Business Solution. The
combination of Digital Island and Sandpiper creates a compelling offering for companies that seek to execute e*commerce on a global basis. Furthermore, we believe the addition of Live-On-Line's streaming capability rounds out Digital Island's serviceoffering. ** Sandpiper greatly expands Digital Island's reach and extends its capabilities closer to the end-user or the edge of the network. With Sandpiper, Digital Island will have greater control over traffic once it leaves its network. Additionally, Sandpiper will increase the speed of information on a customer's website, thereby improving the end user's webexperience. ** Digital Island, coupled with the recently purchased SRI routingtechnology, greatly enhances Sandpipers
e*commerce capabilities as it adds asecure global private network with the ability to bring an end-user's purchase request back to the Digital Island/Sandpipers customers originating serverover the fastest and most reliable route possible.
**Live-On-Line provides to Digital Island critical streaming capabilitieswhich can leverage the technology to enhance
Sandpiper's content deliveryservice with emerging applications such as ad insertion to live streamingevents. We believe Live-On-Line offers another compelling service for contentproviders that will drive increased traffic across Digital Island's network.
* Strong Strategic Partners. As part of their respective strategic alliances with Digital Island, Sun and Inktomi took $20 million and $6 million equity stakes, respectively. These investments represent Sun's first equity stake in a web hosting company, which we believe, validates the strength of Digital Island's position in the marketplace. Importantly, Digital Island will be able to leverage the Sun 10,000 member salesforce through a joint marketing agreement.
* A Burgeoning Opportunity. Digital Island is positioned at the sweet spot of the explosion in e*business by providing the infrastructure to enablee*commerce applications. Jupiter Communications estimates that website commerce transaction volume will grow anaverage of 62% per year from 1998 to 2003-an eleven-fold increase in transaction volume with large sites experiencing 120,000 transactions per day. Underlying this estimate, Jupiter expects the percentage of online individuals to increase to over 150 millionby 2003, up from 81 million in 1998. Additionally, roughly 54% will purchase goods online, up from 23% in 1998. In dollar terms, Jupiter expects goods purchased online to grow from $7.8 billion in 1998 to over $75 billion in2003.
RECENT FINANCING Digital Island recently completed a follow-on equity offering of 5 millionshares comprising 3.85 million primary and 1.15 million secondary shares. Theoffering priced at $107 per share and generated net proceeds to Digital Island of roughly $385 million. Along with the follow-on equity offering, Digital Island offered $300 million in convertible subordinated debt. The terms of the convertible debt are five-year duration with a three-yearnon-call provision and 6% coupon rate. With roughly $700 million from its recent financing, we estimate Digital Island is financed through 2002. With a strong cash position, we believe Digital Island is well positioned to execute its planned deployment of 5,000servers across 350 metropolitan areas by 2002 and to fund its global expansion into additional countries from its current 21 country presence.
===============================================
Overview We provide a global e-Business delivery network and suite of services for enterprises that use the Internet to deploy critical business applications and conduct e-commerce worldwide. We offer a comprehensive solution that integrates content delivery, hosting, intelligent networking and applications services. We target global enterprises that increasingly rely on the Internet to conduct business, but are constrained by the unreliability, slow performance and limited range of functions of the public Internet. Our customers use our services and proprietary technology to facilitate the deployment of a wide variety of electronic commerce applications, including online marketing and sales, customer service, fulfillment, software, document and
multimedia distribution and online training. As of December 31, 1999, we had contracts with 169 customers, of which 132
were deployed, including Activision, AOL, Autodesk, Blue Mountain, Canon, Cisco Systems, CNBC.com,E*TRADE, ft.com, Intuit, Microsoft, National Semiconductor, NetGravity, PBS.org and Value America.
We did not begin offering our e-Business delivery network services until January 1997; prior to such time we were engaged in activities unrelated to our current operations. Since inception, we have incurred net losses and experienced negative cash flow from operations. We expect to continue to operate at a net loss and to experience negative cash flows at least through the fiscal year 2000. Our ability to achieve profitability and positive cash flow from operations will be dependent upon our ability
to grow our revenues substantially and achieve other operating efficiencies.
We derive our revenues from services, which include content delivery and network services, hosting services and application and professional services. We currently sell our
services under contracts with terms of one or more years.
Cost of revenues consists primarily of the cost of contracting for lines from telecommunication service providers worldwide and, to a lesser extent, the cost of our network operations. We lease lines under contracts of one year or more. The leasing of transoceanic lines comprises the largest component of our telecommunications expense, with additional costs arising from leasing local circuits between our data centers and points of presence in the United States and international markets. In the future, we expect to increase the size and number of circuits leased, based on increases in network volume and geographic expansion. The cost of our network operations is comprised primarily of data centers, equipment maintenance, personnel and related costs associated with the management and maintenance of the network.
==================================================
On December 7, 1999, we entered into memoranda of understanding with Sun Microsystems, Inc. and Inktomi Corporation providing for a joint strategic relationship. Under the relationship, we have agreed to purchase, over a two year period, up to $150 million of Sun servers, storage operating systems and server software, using Inktomi network caching applications. The total purchase would consist of 5,000 Sun servers. Sun and Inktomi also agreed to participate and invest in joint marketing and sales activities with us to support broadband and streaming media content delivery over the Internet. Sun agreed to provide $100 million of lease financing for the acquisition of the equipment, consisting of:
. a $30 million initial line of credit:
. a $30 million line of credit available in nine months upon meeting specified working capital maintenance and
financing milestones; and
. a $40 million line of credit available in fifteen months upon meeting specified additional working capital maintenance and financing milestones.
In exchange for this lease financing, we agreed to grant Sun warrants to purchase up to $10 million of our common stock in three tranches corresponding on a pro rata basis with the above three lines of credit; the warrants will be exercisable at the five-day average trading price preceding the grant dates, and will expire in 48 months (in the case of the first warrant) and 36 months (in the case of the second and third warrant). The lease financing facility and the marketing and sales relationship are subject, in part, to definitive documentation.
=============================================
A few more always welcome bits of attention for DI. This is from Bambi Francisco's CBC MarketWatch column today:
"Digital Island (ISLD: news, msgs) rose 5 1/4, or 5 percent, to 114 1/4 as its shares continue to rebound from depressed levels. Additionally, as content-on-demand via PCs or other Internet devices grow, so should the need for content distribution technology.
Digital Island, known as a content distribution company, enables content to be distributed at the edge of the network. It's a technology that broadband experts believe is critical in delivering content-on-demand via multiple Internet devices."
========================================================
The Close Competition
Although Akamai is the highest profile player in the newly emerging field of content and application delivery, it's not the only one. In fact, Akamai has two sets of competitors.
The first set consists of companies with a similar approach but different emphasis, such as Adero, which is more focused on international markets. A more formidable competitor (pending regulatory approval of a merger announced in October 1999)will combine the e-commerce capabilities of Digital Island with the content delivery skills of Sandpiper Networks to compete with Akamai's planned e-commerce and other applications.
Digital Island has a head start on the e-commerce side. It has a set of industrial-strength e-commerce servers -
Sun workstations located in five data centers - that communicate over dedicated circuits rather than via the public Internet. By contrast, Akamai introduced its EdgeAdvantage e-commerce platform only in mid-December. "Right now, if you were looking for outsourcer specifically for e-commerce, absolutely there's no doubt that Digital Island has got the stuff,"
says Gartner's Lill.
Akamai is far ahead in content delivery, Lill notes. Thus, he says, "The question is ?Can Digital Island match Akamai in terms of content delivery before Akamai can match Digital Island in terms of e-commerce platform?'."
The answer, according to Lill, is that "it's easier to go from the Akamai model to the Digital Island model than to go from the Digital Island model to the Akamai model." The reason, he explains, is that Akamai's technology is "incredibly advanced. Digital Island has just done standard stuff, though they've done it very well. The math behind what Akamai does is so spectacular - it's awesome technology." In addition to Akamai's technology, "they've got critical mass and they're now in
there," Lill says. "They have over 1,700 servers out there. That's a lot. And once you're in it's real tough to get pulled out."
============================================
Underlying Digital Island's frenetic activity is a shift in the way companies view website management. "The whole
content delivery model really needed to be changed," says Michael Whelan, the former CTO of CNBC.com, who now runs
technology consultancy e-Insights. "The economics were lousy for everyone involved," he says. "[Online] publishers' costs were dependent on peak loads and supporting big events -- the Super Bowl or a Victoria's Secret event. But revenues were dependent on average loads. The whole idea of the content delivery intermediary to provide an arbitrage function makes great sense."
As e-commerce transactions and ad revenues grow, Web performance becomes more crucial than ever. Each hour
that a website is down costs, on average, $16,000 in product sales and $8,000 in banner ad revenues, according to a 1999 survey of 100 companies by the high-tech Research Consulting Group. And websites that are slow are almost as bad as sites that are down. "Your main cost is marketing dollars," explains Whelan. "But if you don't
have reliable delivery of content, you are flushing those dollars down the toilet. So paying a premium for content
delivery is no big deal for Internet companies."
There's no doubt that the stakes are huge. According to International Data Corp., the U.S. Web hosting and services market will grow from $1.8 billion in 1999 to $18.9 billion in 2002. Yankee Group's numbers are even higher; it estimates the market will grow from $4.2 billion in 1999 to $20 billion in 2003.
CEO Ernst, who, before joining Digital Island in June 1998, had never headed a company, is faced with the challenge of
managing major acquisitions -- including last year's purchase of Sandpiper Networks -- while simultaneously overseeing the company's rapid overseas expansion. Formerly general manager of Hewlett-Packard's (HWP) financial services business unit,Ernst initiated HP's $1.2 billion acquisition of VeriFone.
Ernst grew up poor in the tiny Appalachian town of Beckley, W.Va., as one of three children raised by a single
mother (her father died when she was seven). This rise from such meager beginnings has marked Ernst as a hard
charger with a humble touch. Thus far, she has not lost a single employee during the Sandpiper merger, and most of
her middle management team, unfettered by golden option handcuffs, has stuck around for the ride. Sandpiper CEO Leo
Speigel, for example, has agreed to stay on as president of the newly combined entity.
The big island
Digital Island was founded four years ago in Honolulu by Ron Higgins (who left the company last December as planned) and current CTO Allan Leinwand, who plotted a private international data delivery network that would bypass the clogged public Internet and the choke points on the two coasts of the U.S. Sort of FedEx of the Internet, the network would tap into a nascent market for shipping data that absolutely, positively had to get there in a timely and reliable fashion. Digital Island leased transoceanic and transcontinental fiberoptic cables and built seven data centers in the U.S, Europe, and Asia. The company grew and moved to San Francisco in March 1999.
Digital Island was the first provider to offer international service level agreements (SLAs). These SLAs guarantee the performance of data delivery up to specific speed and accuracy benchmarks. If performance falls short, Digital Island must compensate the customer or offer a discount. This is an attractive proposition for heavy international Web users since the public Internet gets more dicey outside the U.S.
Negotiating and linking a network of secure data lines around the world, and obtaining guarantees on how fast these lines from myriad local and international companies will perform, however, is a bit like herding cats. "Digital Island made everyone much more aware of the need for guarantees if you are putting mission-critical applications onto a network," explains Hilary Mine,
executive vice president of Probe Research. "It's very hard to offer global SLAs. There is just a lot of grunt work
involved in provisioning and linking up a proprietary global network. I mean, AT&T can barely do it.
==========================
"We ran a bunch of tests on server speeds," says Mark Tuttle, chief technology officer of one customer, website designer and service provider Digital Web Associates, which handles major accounts such as Lucent (LU), Apple (AAPL), and Hewlett-Packard. "Basically, it showed that, domestically, Digital Island was as fast as any of the other network hosting providers," he said. "Internationally, Digital Island was three times as fast" as the other network hosting
providers Tuttle tested. "They don't just reboot the servers, they fix the problem. They are sort of the ideal network center," says Tuttle.
To compete with the distributed network companies, Digital Island went on a shopping spree. Last October, Digital Island acquired Sandpiper for $621 million in stock, positioning Digital Island to compete with Akamai. Sandpiper claims its Footprint technology, which runs on 1,200 Sun servers worldwide, can accelerate Web site performance up to 10 times faster than the public Internet.
my note: This is the service that they provide that directly competes with Akami
In December, Digital Island signed a three-year, $150 million deal for 5,000 Sun Netra T1 carrier-grade servers and Enterprise 420R servers running the Solaris Operating Environment, to build out its international presence. In exchange, Sun Microsystems took a $20 million equity stake in Digital Island. Caching and search engine company Inktomi jumped aboard as well, investing $6 million in Digital Island, which plans to use Inktomi's technology on its server network.
Looking to the future, Digital Island acquired streaming content provider Live On Line, in January 2000, for $70 million to augment its ability to deliver concerts, video clips, and other rich media. Many analysts expect streaming media to blossom with widespread deployment of broadband over the next few years.
All of this means that Digital Island can now bundle everything from secure e-commerce, secure Web hosting, premium content delivery, private data networks, and streaming content. Akamai also has secure sites, but it uses the public Internet to transmit data, whereas with Digital Island, the data never enters the public Internet and is, therefore, more secure.
In fiscal 1999, Digital Island's revenues were up 431 percent to $12.4 million, from $2.3 million the previous year
When you add up the entire set of services that we can provide, it's well over $100 billion. It's a very big pie and everyone who is going to deliver will get their piece," says Digital Island President Speigel. "There is nobody in the marketplace today that we worry about. We don't win every deal, but we certainly get our fair share."
THURSDAY, FEBRUARY 24, 2000 8:03 AM
- BusinessWire
SAN FRANCISCO, Feb 24, 2000 (BUSINESS WIRE) --
e-Business Benefits Extended to Companies of All Sizes
With e-BizChain XML Applications, ASP Model, and Pay-by-Use Pricing IntraGlobe, Inc., a pre-IPO e-Business
application provider, today announced a strategic partnership with Digital Island, Inc. (NASDAQ: ISLD), a leading
global e-Business Delivery Network, to offer immediate availability of IntraGlobe's e-BizChain(TM) business to business
(B2B) supply chain application hosted on Digital Island servers.
IntraGlobe provides XML-based extranet systems that automate the collaboration and back-end transaction processes
for companies building networked supply chains. Whether extending traditional EDI or creating trading communities and
hybrid portals for direct materials procurement, e-BizChain supplements and extends existing ERP and supply chain systems.
By hosting e-BizChain on Digital Island's global e-Business Delivery Network and offering subscription pricing
options, all links in a trading network can cost-effectively become e-Business enabled.
.
============================================
The more publicity, the better.
The following is a portion of an article pertaining to ISLD by Bambi Francisco of MarketWatch this afternoon:
"Shares of Digital Island (ISLD: news, msgs) traded as high as 116 1/4, before finishing out the day at 108 5/16, up 13/16.
The content distribution company announced a deal with Apple computer to deploy Apple's QuickTime streaming
media format on most of Digital Island's servers. Additionally, Digital Island completed a secondary offering that was
oversubscribed. Merrill Lynch also started coverage with a long-term "buy" rating and a $125 price target. Merrill
co-managed the $535 million secondary offering, according to CommScan Equidesk. Digital Island sold 5 million shares at
$107. It originally filed to raise $360 million by selling 4.5 million shares. Digital Island also raised $300 million through a
convertible debt offering."
My note: The timing of the secondary offering was such that it effected the stock price over the last two weeks. The price of
the offering was suppose to be $106-109 share.
=======================================================
=======================================================
Digital Island (ISLD: news, msgs) rose 6 1/8 to 115 1/4. Bear Stearns, the investment bank that brought Digital Island
public last year, reiterated its "buy" rating and established a $200 price target. Digital Island is well positioned to
benefit from the growth in global hosting and streaming, said Net analyst James Henry, in a note to clients.
Henry applauded Digital Island's purchase of Live on Live at the end of January, saying that Digital Island can now offer its
business clients the ability to stream high quality broadcasts. "We think that streaming media will soon be a major
Internet application," he added.
Henry said that Live on Line's capabilities and clients compare "favorably" with those of Intervu, which was recently
purchased by Akamai (AKAM: news, msgs) for $2.8 billion earlier this month.
====================================================
my note: Last but not least, Cramer just named it one of the ten stocks to own in 2000 last night at this
conference.
By James J. Cramer
2/29/00 9:42 AM ET
Editor's Note: James J. Cramer is the keynote speaker at the 6th Annual Internet and Electronic Commerce Conference and
Exposition, held today at the Jacob Javits Center in New York City. We're running the full text of that speech here.
Click here for the latest from James J. Cramer.You want winners? You want me to put my Cramer Berkowitz hedge fund hat
on and just discuss what my fund is buying today to try to make money tomorrow and the next day and the next? You want
my top 10 stocks for who is going to make it in the New World? You know what? I am going to give them to you. Right here.
Right now.
OK. Here goes. Write them down -- no handouts here!: 724 Solutions (SVNX:Nasdaq), Ariba (ARBA:Nasdaq), Digital
Island (ISLD:Nasdaq), Exodus (EXDS:Nasdaq), InfoSpace.com (INSP:Nasdaq), Inktomi (INKT:Nasdaq), Mercury
Interactive (MERQ:Nasdaq), Sonera (SNRA:Nasdaq), VeriSign (VRSN:Nasdaq) and Veritas Software (VRTS:Nasdaq).
We are buying some of every one of these this morning as I give this speech. We buy them every day, particularly if they are
down, which, no surprise given what they do, is very rare. And we will keep doing so until this period is over -- and it is very
far from ending. Heck, people are just learning these stories on Wall Street, and the more they come to learn, the more they
love and own! Most of these companies don't even have earnings per share, so we won't have to be constrained by that
methodology for quarters to come.
There, now that that's done with, can we talk about the methodology that produced those top 10 so that you can understand
how, in a universe of a gazillion stocks, we arrived at those, so you too can figure it out? I hope we can because I have
another 10 and still another 10 and another. They all do the same thing: They make the Web faster, cheaper, better and easier
to access anywhere, anytime. They allow you to get on the Web securely anywhere in the world. They make the Web
economy the only economy that matters. That's all they do. |
