HORSHAM, Pa., Sept. 26 /PRNewswire/ -- Marking 5 years of exponential
growth and contribution to the suburban Philadelphia area,
VerticalNet, Inc. (Nasdaq: VERT) will receive a $3 million economic package
from the Pennsylvania Opportunity Grant and Job Creation Tax Credit programs
in a ceremony at VerticalNet's headquarters. Pennsylvania Governor Ridge will
be greeted by President and CEO Joe Galli and Chairman Mark Walsh in Horsham,
PA on Tuesday, September 26th. VerticalNet is the Internet's leading network
of business-to-business commerce communities.
Governor Ridge will visit with company leaders and employees to learn how
VerticalNet has quickly become a high technology job magnet for Pennsylvania.
"I grew up in Pennsylvania, moved to Seattle to participate in a high
technology company and was thrilled to be able to relocate to the Philadelphia
area and continue my Internet and e-commerce focus with VerticalNet," said Joe
Galli. "VerticalNet's growth and success are supported by the outstanding
educational base in the Philadelphia area as well as the quality of life in
the surrounding communities."
VerticalNet currently employs 676 people at their main headquarters and
have expanded from one building to three. "Our projections clearly show a
quick expansion of at least 1000 quality jobs in the next three years," stated
Gene Godick, Chief Financial Officer at VerticalNet. "We are pleased to be
recognized by Governor Ridge as a quality job magnet for Pennsylvania."
VerticalNet began as Water Online five years ago and has grown into three
strategic business units servicing 57 separate and distinct industrial sectors
with e-commerce solutions. With operations and partners all over the world,
VerticalNet is known as a leader in the B2B space. "Our success depends upon
a large, well-educated work force dedicated to assist companies to bridge the
`Brick-to-Click' gap," stated Mark Walsh. "VerticalNet is uniquely positioned
to gather buyers and suppliers from all over the world and manage the process
from Pennsylvania."
About VerticalNet, Inc.
VerticalNet, Inc. (www.verticalnet.com) provides end-to-end e-commerce
solutions targeted at distinct business segments through three Strategic
Business Units: VerticalNet Markets includes 57 industry-specific web sites
designed as online vertical trading communities and provides hosted e-commerce
and community capabilities for corporate divisions and mid-size businesses;
VerticalNet Exchanges focuses on direct material open and spot markets;
VerticalNet Solutions builds digital marketplaces for global 2000 customers,
consortia and neutral Net market makers. VerticalNet International leverages
the Company's three strategic business units to create global Internet B2B
marketplaces, offering products and services internationally and partnering
with companies that have strong local presence and domain expertise.
VerticalNet and NECX are registered trademarks and/or trademarks of Vert
Tech LLC in the United States and/or other countries.
SOURCE VerticalNet, Inc.
-0- 09/26/2000
/CONTACT: Donna L. Terp, Director of Public Relations of VerticalNet,
215-328-6100 or dterp@verticalnet.com/
/Web site: verticalnet.com /
(VERT)
CO: VerticalNet, Inc.
ST: Pennsylvania
IN: CPR MLM
SU:
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