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To: Ed Forrest who wrote (27761)	8/2/1999 11:31:00 PM
From: puborectalis	Respond to of 41369

Intranets.com Will Offer Free Intranets (08/02/99, 7:04 p.m. ET) By Reuters NEW YORK -- A new company called Intranets.com will create and run private online networks called intranets for companies and organizations free of charge, in hopes of selling advertising and generating commissions from goods sold over the networks it creates. More than 5,000 companies and organizations have already signed up for the free service offered by the privately held Woburn, Mass.-based Intranets.com, Steve Crummey, CEO and co-founder said Monday. "We're taking the complexity out of intranets," Crummey said. Clients will fill out a questionnaire that lets Intranets.com design intranets that fit the profile of the company or group. The intranets will use the Intranets.com's sister company's search engine, GoTo.com, and news from NewsEdge. Crummey said the company will have about 1 million subscribers by the time in launches a $1 million radio and e-mail marketing campaign in September. Intranets.com will generate revenues from advertising and from commissions for selling goods such as office products and software that will be sold at a discount via the intranets it creates for its members, he said. Crummey, former vice president of worldwide sales for video-conferencing company PictureTel, said the Intranet.com expects to generate $5 million in revenue its first year. That sum would be well below the funding the company has raised, which Crummey declined to disclose. He said Intranets.com will probably issue stock in an IPO within the next 12 months. Intranets.com is the reinvention of Intranetics, a company that made off-the-rack software for companies to create their own intranets. In June, the board met and decided to refocus and rename the company to create the free, merchandise-revenue driven Intranets.com, Crummey said. The company has teamed with Digital River to offer software products online. "We're aggregating buying power for small- to-medium-sized companies," Crummey said. "If we can bring 5,000 small companies to Staples, we'll get a better price than those companies can individually." "Intranets.com is the first company to bring the power of mass Internet consumer marketing to the business world," Bill Gross, CEO of idealab! and co-founder of Intranets.com, said in a statement. Pasadena, Calif.-based Idealab, is the high-tech incubator of companies such as search engine GoTo.com , and online toy seller eToys. idealab.com