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According to Yahoo! Finance -- CMGI currently has a mkt. cap of some $2 billion. Let's break down CMGI's high-profile investments: LCOS and GeoCities. LCOS has a $1.35 market cap -- and CMGI owns somewhere in the neighborhood of 35% of the shares -- a $472.5 million value. Per analysts and fund managers, GeoCities could be worth $2 billion the day of its its IPO, and again, CMGI owns about 35% of the shares -- a $700 million value. Together, these investments' estimated value is $1.172 billion. Then, considering CMGI's ownership of Engage, NaviSite, Planet Direct and ADSmart and its minority interest in Parable, Silknet, Sage Enterprises, Red Brick, reel.com and others -- it seems that CMGI is a good place for the aggressive investor w/ some long-term vision and a strong stomach. Also, I think that LCOS has some serious upside at this point. It hasn't struck a big-time agreement w/ a media player (is someone from CBS reading?) and it has amassed a nice family of companies under its umbrella -- including Tripod and Wise Wire (which could be IPO candidates themselves). As you may know, MSFT and INTC each own a minority interst in CMGI -- and as far as I can tell -- they aren't selling. Sure, there will be volatility, but this is the best way I know of to broadly participate in the growth of the nascent and explosive internet industry. |
