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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Ron who wrote (71921)	11/16/1999 11:25:00 PM
From: puborectalis	Read Replies (2) \| Respond to of 120523

Got QNTS....my CMGI is looking better-never underestimate David Wetherill....CMGI expects revenue to rival AOL's By Bloomberg News Special to CNET News.com November 16, 1999, 11:40 a.m. PT CMGI expects to be the second-largest Internet company in terms of revenue behind America Online by the end of its fiscal year in July, Chief Executive David Wetherell said. CMGI, which runs Internet venture funds, is the No. 3 revenue generator among Internet companies, behind AOL and Yahoo, 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, 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 added. 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. Wetherell declined to comment on speculation that CMGI was in discussions to buy Lycos, 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, a free Internet service provider that 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 executives also plan to start a new venture fund focused on Latin America.