"B2B NOW MEANS BOOM TO BUST
By JOSEPH GALLIVAN
B2B may already be going bust.
The much hyped business-to-business market took a big knock yesterday when Safeguard Scientifics, an Internet holding company, announced it would not invest in any more B2B Web companies.
With the weaker e-tailers already taking a hammering on Wall Street, many fear B2B is also ready for its shakeout.
Ariba, which makes software for B2B e-commerce, yesterday closed at $90.75, down $12.75, or 12.32 percent, while Commerce One, another big B2B player, closed at $119.50, down $20.50, or 14.64 percent.
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Safeguard has around half its portfolio value wrapped up in one B2B company, Internet Capital Group, which has lost more than 60 percent of its value this year alone.
Safeguard's president, Henry Wallaesa, said the company would narrow its focus and invest in infrastructure companies, which he called "the next big thing." Infrastructure means not just computers and hardware but the software and services that makes e-commerce happen. Such companies include Opus360, Techspace, and Mi8."
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