CMGI Presentation Hits Bottleneck (As reported in TheStreet.com)
CMGI's (CMGI:Nasdaq) head honcho David Wetherell stood before a packed crowd here to try and explain the inexplicable: the value of the many Internet companies of which CMGI owns a piece.
It was, simply, too much to explain in a 20-minute presentation. Wetherall admitted to as much, saying that CMGI's venture capital fund @Ventures reviewed 1,000 business plans during February and 1,500 during March.
After flying through slides of affiliated companies, and a mention that CMGI's stock price is up some 42,000% since coming public, Wetherell said the best is yet to come. "We think the vast majority of our revenue events are in the future," he said.
Wetherell said he expects a dozen of companies he invests in to go public this year, including Silknet, Chemdex, Raging Bull and something called, well, thingworld.com.
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