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Technology Stocks : CMGI What is the latest news on this stock? -- Ignore unavailable to you. Want to Upgrade?

To: Sean Sheldon who wrote (9714)	6/10/1999 10:22:00 PM
From: Jenne	Respond to of 19700

CMGI to Start Two More Venture-Capital Funds in Next 10 Months Bloomberg News June 10, 1999, 3:52 p.m. PT CMGI to Start Two More Venture-Capital Funds in Next 10 Months Andover, Massachusetts, June 10 (Bloomberg) -- CMGI Inc., an Internet venture fund company, plans to start two more venture- capital funds in the next 10 months, Chairman David Wetherell said. One will focus on early-stage investments and be double to quadruple the size of CMGI's @Ventures III fund, which it closed in December with $272 million in capital. The other will be a late-stage and cross-over fund, Wetherell said. CMGI invests in Internet companies through several funds, with the goal of taking companies public or selling them to other investors. Wetherell also said CMGI will soon announce a share distribution program that will allow the company's current shareholders to participate in the public stock offerings of CMGI's units. ''As our wholly owned subsidiaries go public, (we want) existing holders of CMGI shares to be able to participate in a portion of those shares offered to public,'' he said on a conference call after reporting CMGI's third-quarter results. The Andover, Massachusetts-based company also is forming a business to focus on helping companies build businesses on the Internet by setting up Web sites and other functions. Wetherell said he anticipates bringing that company public next year.