World Library  
Flag as Inappropriate
Email this Article

VerticalNet

Article Id: WHEBN0022467936
Reproduction Date:

Title: VerticalNet  
Author: World Heritage Encyclopedia
Language: English
Subject: Mark Walsh (businessman), List of assets owned by Microsoft Corporation
Collection:
Publisher: World Heritage Encyclopedia
Publication
Date:
 

VerticalNet

Verticalnet Inc. (Nasdaq:VERT) was a "provider of On-Demand Supply Management solutions to companies ranging in size from mid-market to the Global 2000" and host of business-to-business (B2B) procurement portals ("B2B hubs"). Founded in 1995 and headquartered in Malvern, PA, Verticalnet became famous during the Dotcom bubble for its US$12 Billion valuation in early 2000,[1] at a time when the company had few tangible assets and a revenue stream of only US$112.5 million. At the peak of its valuation, VerticalNet operated few B2B portals, plus more than 50 Internet business-to-business trading communities as well as professional communities.

In 1999, the company lost US$53.5 million on revenues of 18.4 million. In 2000, revenues increased to sixfold to $112.5 million, but losses multiplied equally, resulting in $311.3 million negative net income that year. Despite claims by Verticalnet CEO Mark Walsh that the company would become profitable by Q2 2001,[2] profitability was never achieved.[3]

VerticalNet (NASDAQ: VERT) has sold its Small and Medium Business Group to Corry Publishing for a cash up-front payment of $2.35 million and a four-year performance-based earn-out of $6.5 million, as well as the assumption of certain liabilities. Corry Publishing is a business media company that publishes magazines, email newsletters and buyers guides for Enterprise IT professionals. The Jordan, Edmiston Group represented VerticalNet in this transaction. VerticalNet is now VertMarkets www.vertmarkets.com and owns many of the largest industry sourcing websites such as www.pharmaceuticalonline.com , www.bioresearchonline.com and www.wateronline.com

Â== References ==

This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and USA.gov, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for USA.gov and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
 
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
 
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.
 


Copyright © World Library Foundation. All rights reserved. eBooks from Project Gutenberg are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.