CommunicationsWeek Exclusive Report: Cisco Systems Takes In $75 Million Via Web Commerce Transactions December 9, 1996, 8:01 AM EST
Aims for Over $1 Billion in Web-based Business by July, 1997
MANHASSET, N.Y., Dec. 9 /PRNewswire/ -- Cisco Systems (Nasdaq-NNM: CSCO), the leading supplier of computer networking equipment, has racked up $75 million in sales in only five months via Internet transactions from its business-to-business mall --Cisco Connection Online -- and is aiming for more than $1 billion by the end of its fiscal year, according to an exclusive report in CMP's CommunicationsWeek. The story is posted on CommunicationsWeek Interactive at commweek.com.
These figures clearly establish the router and switch maker as the top revenue generator on the Web today. To date, few Internet endeavors have turned a profit, and none have brought in as much as the Cisco figures reported by CommunicationsWeek. Market researcher International Data Corp. predicts that Internet transactions will reach $5.4 billion in 1996; should Cisco meet its goal, garnering 30% of its business from online sales by July 1997, the company would account for close to 20% of projected industry revenue
"To date, Web commerce has been a slow burn," said Elliot Kass, Editor, CommunicationsWeek. "But Cisco's success shows that Web commerce is beginning to reach critical mass. This could easily become a new business model for the entire computer and communications industries."
CommunicationsWeek, The Networking Newspaper, is the leading newspaper serving the information needs of Network IT Management. The newspaper delivers news and analysis that helps Network IT Management translate evolving advances in communications and computing technology directly into business advantage. In addition, the newspaper features Web Commerce, a biweekly section that provides in-depth features and analysis of electronic commerce products, technologies and case studies. Telepath, a monthly supplement to CommunicationsWeek, is directed to the innovators behind converging networks.
CMP Media Inc., now in its 25th year of uninterrupted growth, is the only provider of publishing, marketing and information services to reach the entire spectrum of the high-technology market -- the builders, sellers and users of technology. With projected sales of $420 million in 1996, CMP has marked its quarter century of success with an average annual growth of 20 percent. All of CMP's publications, as well as a series of innovative news and interactive services are available on the Web through CMP's TechWeb, (http://www.techweb.com), the industry's first free daily technology news and interactive services super site. CMP Media is also the creator of NetGuide Live netguide.com), the first comprehensive daily online guide to the Net, and First-TV (http://www.first-tv.com), the Internet's first 24-hour TV/video network.
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