Internet Capital Group Inc. (ICGE) Message Board

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Technology Stocks : Internet Capital Group Inc. (ICGE)

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From: bob zagorin	12/6/2005 10:58:03 AM
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ICG buys stake in Qcorps Tuesday December 6, 10:36 am ET Internet Capital Group Inc. said Tuesday it has bought 39 percent of a company that enables consumers to compare and choose from energy, telephone and other service providers through its Web site. ICG (NASDAQ: ICGE - News) led a $15 million financing of Qcorps Residential Inc. by buying $10.5 million of its preferred stock. QCorps, which is based in Houston, does business as WhiteFence. WhiteFence's specialty is allowing people moving into new homes or apartments to compare and select from service providers available in their area. It does that through its Web site and through privately branded sites for real estate investment trusts, real estate brokers and the service providers themselves. WhiteFence has arrangements with more than 400 service providers, which pay it when they acquire customers through its sites. The company expects to generate $9 million in revenue this year, a 70 percent increase from 2004. ICG is based in Wayne, Pa., and invests in Internet software companies. Published December 6, 2005 by the Philadelphia Business Journal

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