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Technology Stocks : CMGI What is the latest news on this stock?
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To: ELIAS DEEB who wrote (5052)3/1/1999 8:18:00 PM
From: George Martin  Read Replies (1) of 19700
 
A few more details about the CMGI feature on CNBC tonight:
1. As noted in prior post, very, very positive overall.
2. Tremendous return of intial 2 million investment each in Lycos and in Geocities noted.
3. Stated there are about 1000 (? exact #) requests per month from start-ups of which about 4 or 5 are chosen for investment with amounts of 2 to 5 million, often in exchange for about 50 % ownership.
4. Clips from interviews with Raging Bull illustrating the "keiritsu" (sorry, sp?) aspect of CMGI synergy. Noted that Raging Bull dropped Exodus recently and switched to Engage, a CMGI affiliate.
5. As previously noted on this thread, quite a number of anticipated IPO's coming up with more along the incubator belt.
6. With his stellar record, David was asked about any that "got away." Failure of Freemail with loss of 5 million was noted. David said that he passed on EBAY !!!! and it was only about a month ago that he stopped waking in the middle of the night screaming, or words to that effect.
7. David stated that internet phenomenon was a wealth-creating event unprecedented in history. Said if there is a bubble, rebound will be expected as companies of real value are being created.
8. As accurately predicted by others in this thread the past couple days, the anticipated good news (plus investment in another company announced today)came to bear today.

Regards to all and -- forget Paine Webber -- THANK YOU, CMGI !!!!

George Martin
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