CMGI'S Annual Investor Summit Highlights Powerful Vision of Web Commerce and Investment
BusinessWire, Tuesday, April 13, 1999 at 08:02
ANDOVER, Mass.--(BUSINESS WIRE)--April 13, 1999--CMGI
(NASDAQ:CMGI) Chairman and Chief Executive Officer David Wetherell
opened the Company's third annual Investor Summit today with an
address on the state of the CMGI "union." The Summit will showcase a
diverse portfolio of Internet businesses linked by CMGI's increasingly
powerful vision of web commerce and investment being validated daily
by the extraordinary growth of the online economy.
CMGI is the largest group of Web-related companies in the world,
with investments or majority ownership stakes in more than 35 Internet
companies representing every link in the Web "Value Chain."
25 companies in the CMGI portfolio will make presentations and
network over the next two days as part of the annual Summit, just one
of the ways in which CMGI's mission of "creating net value" is
manifested. By growing its companies in a unique incubator
environment, and allowing them to continually learn, share resources,
and form strategic alliances with one another, CMGI has achieved
unparalleled success in helping to build some of the world's leading
Web brands.
"We're delighted that our vision of Internet development and
investment is coming to fruition," said Wetherell. "CMGI's early focus
on the Web and its commercial potential has fueled the creation of a
diverse family of market-leading Internet companies, and a deep
understanding of the Internet economy which is only now beginning to
realize its true value."
"CMGI's recognition of the future promise of the Internet gives
us a strategic advantage: not only does our portfolio of investments
provide our shareholders with the prospects of further gains as these
companies develop and grow, but we also have a solid understanding of
how these companies will become important businesses in their own
right," continued Wetherell. "This has enabled us to leverage our
background in direct marketing and technology to build a unique
company model of operating units in the Internet Group, in combination
with the strategic investments of our @Ventures group."
Wetherell said that many of CMGI's Internet Group operating
companies are well positioned in the high-growth segments of Internet
marketing, infrastructure, and content development. He also noted that
three CMGI companies (Lycos, GeoCities and Critical Path) have
successfully gone public, while another (Silknet) is currently in
registration for its IPO. Subject to market conditions, a number of
other CMGI companies are considering public financing later this year.
Through the Company's @Ventures affiliate, CMGI has become a
major shareholder in four of the top 15 web sites, including Lycos,
which is ranked fourth, and GeoCities, which is ranked sixth. As of
market close on April 12, 1999, CMGI's public holdings are valued at
approximately $1.9 billion, and its return on investment (ROI) to date
on those investments is approximately 4,800 percent.
"With our outstanding track record for identifying early and
emerging Internet trends and our breadth of management expertise,
which includes Internet 'combat veterans' as well as 'off-line'
experts in media and content development, CMGI is well positioned to
take advantage of future opportunities in the Internet marketplace,"
Wetherell concluded.
About CMGI
A recognized leader in the Internet arena, CMGI (NASDAQ:CMGI)
has built a sizeable base of Internet operating companies and, through
its @Ventures affiliate, a large number of related and synergistic
Internet investments, using the businesses and technologies of these
units to enhance the value of its core operating companies. This
unique method of creating equity for its shareholders is what CMGI
calls "creating net value." Microsoft, Intel and Sumitomo hold
minority positions in CMGI.
The CMGI Internet Group consists of its majority-owned subsidiary
companies Activerse, Adsmart, Engage Technologies, NaviSite, NaviNet,
Planet Direct, Magnitude Network and ZineZone.
The Company's @Ventures affiliates have ownership interests in
Lycos, Inc. (NASDAQ:LCOS), blaxxun, GeoCities (NASDAQ:GCTY),
Vicinity, ThingWorld.com, KOZ.com, Silknet, Chemdex, Speech Machines,
Softway Systems, TicketsLive, Critical Path, MotherNature.com, Raging
Bull, Universal Learning Technology, Visto, Virtual Ink, Ancestry.com,
ONElist, Furniture.com, OneCore Financial Network, Asimba and
eCircles.com. CMGI also includes CMG Direct, SalesLink, InSolutions
and On-Demand Solutions as majority-owned subsidiaries in the direct
marketing, fulfillment and turnkey arenas.
Corporate headquarters is located at 100 Brickstone Square,
Andover, MA 01810. Telephone: 978-684-3600. Fax: 978-684-3814.
Additional information is available on the company's Web site
cmgi.com.
CONTACT: CMGI
Deidre Moore, (978) 684-3655
dmoore@cmgi.com
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