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To: Glenn D. Rudolph who wrote (106102)7/14/2000 12:04:12 AM
From: 10K a day  Read Replies (1) of 164684
 
What Barriers to entry?

yahoo.cnet.com
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NEC, HP and others to create B2B venture in Japan
By Erich Luening
Staff Writer, CNET News.com
July 13, 2000, 3:10 p.m. PT
update A unit of Hewlett-Packard,


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ARBA 131.19 +27.69


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Sumitomo, NEC and Ariba said today they plan to invest $7.9 million (850 million yen) in a Japanese e-marketplace for office supplies, books and stationery.

Software maker Ariba said the new company, which has yet to be named, is expected to handle about $37 million in e-commerce transactions in its first fiscal year.

NEC and Sumitomo will hold about 80 percent equity in the company they said would begin operations in November, while Ariba and Hewlett-Packard Japan will take a combined stake of about 20 percent.

The partners anticipate revenue of $1.4 million in the first year, an amount that should increase to 14 times as much in fiscal 2002, Ariba said.
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