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

To: Ken who wrote (14085)	11/16/1999 2:34:00 PM
From: im a survivor	Respond to of 19700

CMGI to Become No. 2 in Revenue Among Web Companies (Update1) (Adds details, comment starting in 3rd paragraph; updates share price.) San Francisco, Nov. 16 (Bloomberg) -- CMGI Inc. expects to be the second-largest Internet company in terms of revenue behind America Online Inc. by the end of its fiscal year in July, Chairman and Chief Executive David Wetherell said. CMGI, which runs Internet venture funds, now is the No. 3 revenue generator among Internet companies, behind AOL, the world's largest online service, and Yahoo! Inc., the top search service and directory, Wetherell said in speaking at the second annual Bloomberg Internet Conference in San Francisco. CMGI gains revenue from its operating businesses such as Internet search service AltaVista and records gains from sales of stock in its investments such as GeoCities Inc., which Yahoo bought earlier this year. CMGI expects several companies in which it has stakes to go public by early next year, which will increase its marketable securities, Wetherell said. ``We hit over $5 billion today in publicly marketable securities that we own,' Wetherell said. Among its holdings, online vitamin seller MotherNature.com is expected go public in December and Furniture.com is set to go public in January, Wetherell said. AltaVista will sell shares to the public in March, Wetherell said. CMGI, which expected to take AltaVista public in January, pushed back the date to give AltaVista time to grow revenue and customers after its redesigned site debuted last month, supported by a $120 million marketing campaign, he said. Lycos Wetherell declined to comment on speculation that CMGI was in discussions to buy Lycos Inc., one of the most popular Internet search services, in which CMGI owns a roughly 17 percent stake. He said CMGI isn't interested in increasing that stake. 1stUp.com Corp., a free Internet service provider which CMGI owns, is adding about 10,000 new users a day and will soon pass America Online in the number of new subscribers it signs up, Wetherell said. CMGI also said it plans to start a new venture fund focused on Latin America. CMGI shares rose 1/2 to 101 3/4 in early afternoon trading. They've almost quadrupled in value this year. NYSE