Donny, I am in agreement that FCCN's run is just beginning. Two reasons, one of
which is a bit of a wild card.
As of December 31, 1998, FCCN had 15,000 customers. Based on their
current market cap, these customers are being valued at approximately
$3,600 each. If you use the calendar year numbers, the customers of
FLAS, GEEK, MSPG and PRGY are currently being valued at $3,900, $3,700,
$3,200 and $3,300 each, respectively. However, on March 31, 1998, the
company announced that they had executed a letter of intent to acquire
an ISP with an additional 15,000 customers. The terms of the deal were
not disclosed, but recent ISP acquisitions have been priced in a range
of $600-1,000 per customer. Therefore, this acquisition will probably be
immediately accretive to FCCN's valuation. The press release related to
this acquisition can be found at:
biz.yahoo.com
Additionally, FCCN owns an e-commerce company, WOWFactor, Inc., a
web-based marketplace which provides e-commerce information and services
to women. Over 1.2 million women business owners are currently profiled
in WOWFactor's on-line directory. The Web site, which is scheduled to
launch in April 1999, will provide comprehensive e-commerce solutions,
advanced business searches, on-line requests for proposals and personal
search services for women-owned businesses.
Margaret McGillin, President of WOWFactor stated, ''WOWFactor is not
about horoscopes or fad diets. Our mission is to provide an active
marketplace and business services for women business owners.'' McGillin
adds, ''WOWFactor is about serving women business owners nationwide. We
seek to facilitate transactions among these women and that is the key
difference between WOWFactor and traditional ''community'' or
''content'' sites. McGillin founded WOWFactor in 1995. The press release
can be found at:
biz.yahoo.com
FCCN has also signed a letter of intent to acquire Channel iShop.com, a
company which is creating a network of premier shopping destinations.
The press release can be found at:
biz.yahoo.com
WOW...pun intended. |
