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Technology Stocks : Ariba Technologies (Nasdaq-ARBA) -- Ignore unavailable to you. Want to Upgrade?

To: ioioioi who wrote (5)	5/5/1999 9:10:00 PM
From: D. K. G.	Respond to of 2110

ARIBA TECHNOLOGIES Internet commerce and infrastructure The Red Herring magazine September 1998 redherring.com Best Management ARIBA TECHNOLOGIES Sunnyvale, CA Moving corporate purchasing online. CEO Keith Krach FOUNDED 1996 EMPLOYEES 125 PHONE 408/543-3800 Last funding round: PROFITABLE? No DATE 8/97 SIZE ($M) 13.2 TYPE Second TOTAL FUNDING RAISED ($M) 19.2 Forget trying to understand your office's requisition forms. Ariba Technologies has made the procurement of standard office supplies a matter of clicking a box on a corporate intranet's computer screen. In 1997, its first year of revenues, Ariba sold nearly $23 million's worth of software that connects customers' offices to the sites of huge office suppliers like Boise Cascade. By automating corporate purchasing for Visa, Federal Express, Cisco Systems, Chevron, Octel, Advanced Micro Devices, Bristol-Myers Squibb, and others, Ariba has tapped into a market worth $250 billion, according to the Giga Information Group. And a business that moves its procurement system online will enjoy a 5 percent reduction in operating resource costs and a boost in corporate profits by as much as 28 percent, says the Internet research firm Killen & Associates. Two-year-old Ariba must compete with a handful of other procurement software vendors like CrossRoute Software and Commerce One, but by most accounts it is maintaining its lead. One key to its success is an exceptionally experienced team of executives that moved quickly and decisively to establish Ariba's position in the market--and earned it our private company Best Management award. Cofounder and CEO Keith Krach was one of the Herring's top entrepreneurs of 1998, an honor he insisted on sharing with his fellow cofounders (see "Pencil Pusher"). Moreover, Ariba has begun to diversify. In late May it announced plans to build travel and entertainment expense reporting into its newest software release (due out this month). The market it's targeting is large enough to support several long-term players, and Ariba's postmoney valuation of $120 million following its last funding round--raised from Benchmark Capital, Crosspoint Ventures, the DB Tech Group, Van Wagner Capital Management, and Amerindo Investment Advisors--indicates that it has a good chance of being a survivor. ----- Ariba has a very impressive customer list and equally good VC backing.