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

To: Dave Dickerson who wrote (13154)	9/27/1999 11:57:00 AM
From: Brian Malloy	Respond to of 19700

Adding to my long term stock position this AM and picking up OCT calls for the earnings bounce. Some say -.17 some say $2+, maybe CMGI will really pull a wild one and come in at $4+ IMHO

To: Dave Dickerson who wrote (13154)	9/27/1999 12:03:00 PM
From: Scarecrow	Read Replies (1) \| Respond to of 19700

Dave -- It all depends on which @Ventures fund made the investment. CMGI owns 100 percent of the I and II funds -- but only about 20 percent of the III fund. So, if @V III has a 20 percent stake (for example) in Boatscape, CMGI's stake is a total of 4 percent. If it was @V I or II that took (again, for example) 20 percent of Boatscape, then CMGI's stake is the full 20 percent. Either way, it's important to remember that all @V investments are minority investments -- many less than 20 percent. Given that I think that only @V III is making "new" investments (uninvested money in I and II is probably alrady allocated for subsequent future financing rounds in their existing holdings), it's likely that this was an @V III investment and likely a small stake for CMGI itself. The real juice -- as people are starting to see -- is the wholly owned (or at least predominantly owned) companies like NAVI, ENGA, CHEM, and so forth... Unless you hit the monster kind of home run (LCOS, GCTY), your pop is smaller from the @V investments. I mean, for example, they own 4 percent of Critical Path -- when that stock moves, it doesn't seem to have much of an impact on CMGI, you know? Thanks for all of your great posts, Dave -- keep 'em coming. Scarecrow

To: Dave Dickerson who wrote (13154)	9/27/1999 2:39:00 PM
From: ZenWarrior	Respond to of 19700

Dave: @Ventures III is structured quite differently from the others, but here's the details from their 10-Q: In December 1998, CMGI announced the close of the @Ventures III venture capital fund. This fund has secured $212 million in capital commitments from outside investors, which will be invested in emerging Internet service and technology companies through two newly formed entities, @Ventures III L.P. and @Ventures III Foreign Fund, L.P. CMGI does not have a direct ownership interest in either of these newly created entities, but CMGI is entitled to 2% of the net capital gains realized by both entities. Management of these entities, including investment and sale decisions, is the responsibility of @Ventures Partners III, LLC, whose members include David S. Wetherell, CMGI's President and Chief Executive Officer, and Andrew J. Hajducky III, CMGI's Chief Financial Officer. The Company has committed to contribute $54 million to its newly formed limited liability company subsidiary, CMG@Ventures III, LLC, of which approximately $10 million has been funded as of April 30, 1999. CMG@Ventures III, LLC will take strategic positions side by side with @Ventures III L.P. CMGI owns 100% of the capital and is entitled to 80% of the net capital gains realized by CMG@Ventures III, LLC. @Ventures Partners III, LLC is entitled to the remaining 20% of the net capital gains realized by CMG@Ventures III, LLC. Basically we receive about 20% of the gains on any @Venture III investment you see in the news. The fund is much bigger than @Ventures I & II, which we kept 80% of. @Ventures IV and Late Stage Crossover Funds are going to start soon, and those will EACH be 2-4x the size of @Ventures III. CMGI is making a lot more investments & acquisitions directly from CMGI's coffers too so things are looking very good. And yes, @Ventures gains are definitely tied into CMGI's financials, minus profit partners' payout.