Wachstumsrakete pur

• Little or no wage inflation and turnover – Wage inflation and employee turnover in China is near zero, while in India, wage inflation is as high as 30 percent and turnover as high as 75 percent
• China's cost advantage is 2:1 over India and 5:1 over the U.S. Given wage inflation in India, that ratio should only continue to grow in China's favor
• Japanese, South Korean and other Asian countries have also begun outsourcing to China – in recognition of the quality of work completed there.

Recognizing the potential advantages of outsourcing from China, Mr. Cestar and Freeborders Co-CEO Ramsey Walker founded the company four years ago. Since that time, it has grown to approximately 400 employees worldwide and is expected to top 1,000 by the end of 2005

About Freeborders
Freeborders is the most advanced provider of software application outsourcing from China. Freeborders management has built the business based on two pillars: that China has a growing cost and expertise advantage over India and that to effectively meet the development needs of Western companies, outsourcing firms must have a significant presence in those countries as well as Asia.

The company is headquartered in San Francisco, with offices in New York, North Carolina, Canada, England and China.

New capabilities offered by LinkShare Data analysis to start in Japan in a few days





und offensichtlich schließt der CEO von Linkshare nicht aus, dass dies die 40%-Beteiligung von Internet Capital, Linkshare sein könnte. Ich wäre aber auch schon mit 10% der Marktkapitalisierung von Google für Linkshare seht zufrieden, auch mit 5%-

To demonstrate LinkShare's continuous effort to provide transformative new services and functions, Messer noted the examples of XML compatibility, Web services, the InStore card that can be used at physical retail outlets, and data analysis function. He said that the latter is to be introduced in Japan in the coming days. "Data is so abundant that it can't be made thorough use of. Providing a simple interface making it possible to analyze meaningful data should make it possible to make deliberate decisions that take more data into account."

Sensing the intimate relationship between affiliates and search functions, the company also began offering the LinkShare Search Advantage search service. "There are cases in which the user can't search using the keyword that is actually desired," he said. "We intend to optimize search programs to affiliate sites using a common data set."

Messer also brought up the example of Google, noting that they are a competitor. "Google built the world's top brand in three years, and they did it without brand investment. Their website is simple, too. In the world of the Internet, it is possible to become a major player without major investment," he said, adding that "there'll probably be another Google-like presence on the Internet within two to three years."


When television first appeared, broadcasts of theater and radio footage were the mainstream. Now, programming featuring ordinary people is the most popular.


New capabilities offered by LinkShare Data analysis to start in Japan in a few days

Es ist schon unglaublich, da schreiben gleich zwei "Journalisten" über Internetfirmen und bezeichnen eine Werbeform als neu, die es seit Jahren gibt: Affiliate Marketing. Dass der Markt sehr attraktiv ist, hat Goolge auch bemerkt. Nur hat Google ein nicht gerade kleines Problem, der Markt ist schon lange besetzt: Linkshare und CommissionJunktion beherrschen den US-Markt, TradeDouber ist in Europa bärenstark und LinkshareJapan in Japna. Warum sollen also die Firmen von ihren Partner mit patentierten Technologien zu Google wechseln, wenn die Partnierschaften hervorragend funktionieren und die mit Abstand preiswerteste Form des Online-Marketing sind - sehr viel preiswerter als Suchmaschinen-Marketing. Allerdings erreicht man nicht jeden mit Affiliate Marketing, wie das umgekehrt bei Suchmaschinen-Marketing oder anderen Formen des Online-Marketings auch der Fall ist.

Was ich allerdings nicht aussschließe, ist die Möglichkeit, dass Google einen der großen Spieler am Markt für Affiliate Marketing zu übernehmen - eine These, die ich schon über ein Jahr vertrete und früher ofter vorgebracht habe. Das könnte vor allem die Internet Capital-Beteiligung Linkshare sein, wo außer Internet Capital mit 40% noch Comcast, der größte US-Kabelnetzbetreiber, und Mitsui, das zweitgrößte Handelsunternehmen der Welt und größte Handler Asiens, mit im Boot sind.

Positioned by Gartner Inc., the leading provider of research and analysis on the global IT industry, as a visionary in the Strategic Sourcing Applications market, confirming the company’s strong position in the industry.
Received Supply and Demand Chain Executive magazine’s “2005 Pros to Know” awards for several executives and customers, including:
Emptoris vice president of supplier performance intelligence, Sherry Gordon, and Sean Devine, director of client services, in the Providers Pro to Know category.
GlaxoSmithKline director of eSourcing and Technology Work Cell, Tim Davies, in the Practitioner Pro to Know category.
Emptoris Advisory Board member, Robert A. Rudzki, in the Practitioner Pro to Know category.
Recognized as a finalist for the 2005 Red Herring 100 awards, further validating Emptoris as a strong private company.
Participated at the Conference Board’s 2005 Electronic Procurement Conference in Chicago, and discussed topics related to the benefits of strategically managed procurement.
Announced plans for Emptoris Empower 2005, its annual user conference, in Boston, October 17 – 20.
Offered educational seminars in San Francisco and Chicago with customers, partners and analysts to discuss sourcing strategies and leveraging new technologies to support them.
Emptoris is achieving success in the market because its offering goes beyond spend management. Its solution is not only focused on controlling costs but also on finding new ways to create value and improve the performance of suppliers. Looking ahead, Emptoris plans to continue empowering its customers to drive a wider, deeper and faster approach to their supply management initiatives. Specifically, the company continues to look for opportunities to expand its product offering to better serve its current and future customers. In addition, Emptoris is building out the operational infrastructure and support services necessary to meet and exceed the ever-changing demands of its global buyer and supplier base.

"The role of the Chief Procurement Officer has become increasingly more strategic within global organizations that are looking to drive stockholder value. Improving bottom-line performance, through strategically managing procurement and supplier relations, can be a significant driver of stockholder value," said Robert A. Rudzki, advisory board member for Emptoris, President of Greybeard Advisors LLC, and former Senior Vice President and CPO of Bayer Corporation. "Emptoris understands this and its Enterprise Supply Management suite enables organizations to manage procurement strategically. As a result, companies can access the best quality goods and services along with the right mix of suppliers to improve cost savings that directly impact financial results."

About Emptoris
Emptoris is a leading provider of powerful enterprise supply management solutions for Global 5000 companies. By implementing Emptoris 5™, a suite of Web-based solutions, enterprises can quickly identify and prioritize procurement savings opportunities, negotiate significant cost savings with vendors, and track contract compliance and supplier performance. Emptoris customers include American Express, Bank of America, Boeing, Dow Corning, GlaxoSmithKline, Motorola, Toro, Owens Corning and Samsung America. Emptoris, a privately held company, is headquartered in Burlington, Massachusetts.

Mr. Clary's session, "Elevating Procurement Within the Enterprise: How to Raise Your Organization's Strategic Importance," will outline how attendees can make procurement a strategic priority within their organizations based on examples of successes achieved at leading companies.

The discussion will cater to senior-level purchasing professionals who would like a better understanding of how to gain broader control over company spend, set optimization priorities, measure results and then reinforce procurement's position as a strategic priority by effectively communicating results.

"Keith and I look forward to providing a glimpse into the best practices that have helped many procurement professionals achieve cost savings and significantly impact on company performance," said Clary. "ISM provides a unique opportunity to address the procurement industry by bringing together leaders from across the nation to share their proven, real-world solutions, and we are honored to be a part of the speaker line up."

ISM's 90th Annual International Supply Management Conference and Educational Exhibit 2005 features more than 100 workshop-sessions that enable attendees to focus on practical solutions, world-class strategies, best practices, management trends and new approaches to developing successful strategic procurement initiatives.

Mr. Hausmann will present at 10:40 a.m. and 2:00 pm CDT on Monday, May 9. Mr. Clary will present at 10:40 a.m. and 3:20 p.m. CDT Monday, May 9. For more information visit www.ism.ws/ .

Both executives are recognized industry experts having spoken at a number of national and regional events and been honored by Supply & Demand Chain Executive magazine as a "Pro to Know".

About ICG Commerce, Inc.

ICG Commerce ( www.icgcommerce.com ) is a leading Procurement Services Provider exclusively focused on helping companies buy more effectively and efficiently in order to reduce costs significantly and continuously. The company offers an unmatched combination of deep process and category expertise and leading technology to delivery Sourcing, Purchase-to- Pay Automation and Outsourcing Services. ICG Commerce, Inc., a privately held company founded in 1992, is a member of Internet Capital Group's (Nasdaq: ICGE - News) network of partner companies and has been named among Forbes' Best of the Web: B2B, honored as an UPSIDE Magazine Hot 100 company and a Global Logistics & Supply Chain Strategies Top 100 solution provider and had its executives recognized among Supply and Demand Chain Executive magazine's "Pros to Know".

kommen übermorgen. Obwohl auf lange Sicht die Entwicklung der Beteiligungen bedeutsamer ist, reagiert logischerweise die Börse auf diese Zahlen. Am wichtigsten ist sicherlich die Entwicklung bei den 10 Kernbeteiligungen. Hier meine Prognose:

Die beiden konsoldierten Beteiligungen ICGCommerce und CommerceQuest werden nach meiner Schätzung folgende Zahlen vorlegen:

Umsätze: 17 Millionen

Ebitda: 3,5 Millionen

Gewinn: 2,5 Millionen


Die acht Kern-Beteiligungen, die Private Helds und nicht konsolodiert sind, werden nach meiner Schätzung insgesamt folgende Zahlen vorlegen:

Umsätze: 44 Millionen

Ebitda: 0 Millionen

Verlust 2,5 Millionen


Die zehn Kern-Beteiligungen, die Private Helds sind, werden somit insgesamt nach meiner Schätzung folgende Zahlen vorlegen:

Umsätze: 61 Millionen

Ebitda: 3,5 Millionen

Gewinn/Verlust: 0

The New York Society of Security Analysts' first annual Internet Leaders conference is an investing forum that will feature a select group of emerging small-cap companies from the Internet industry. The Internet Leaders conference celebrates innovative companies that share key characteristics including notable growth in earnings and revenues, strong management with clear vision and operational focus category leadership within peer group and significant opportunity for long-term investment growth.

Both events will be web cast and accessible for replay from our web site, www.internetcapital.com. Go to the investor information tab and select presentations and web casts. The web casts will be available for replay for three months from the date of the conference.

About Internet Capital Group

Internet Capital Group (www.internetcapital.com) builds and owns Internet software and services companies that drive business productivity and reduce transaction costs between firms. Founded in 1996, ICG devotes its expertise and capital to maximizing the success of these platform companies that are delivering software and service applications to customers worldwide.

Safe Harbor Statement under Private Securities Litigation Reform Act of 1995

The statements contained in this press release that are not historical facts are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future performance of our partner companies, acquisitions or dispositions of interests in additional partner companies, the effect of economic conditions generally, capital spending by customers and development of the e-commerce and information technology markets, and uncertainties detailed in the Company's filings with the Securities and Exchange Commission. These and other factors may cause actual results to differ materially from those projected.

Für übermorgen stehen uns daher auch meines Erachtens keine besonderen negativen Überraschungen ins Haus. Eingepreist in den momentanen Kurs ist aber ein mittlerer Weltuntergang.

TradeDoubler, Europe's leading provider of online marketing and sales solutions, today announced its fiscal year end results for 2004. Audited results demonstrate a total revenue of €65 million (598 million SEK), an increase of 130 per cent from €28 million in 2003. This surpasses 2003’s revenue growth of 86 per cent, demonstrating the momentum of TradeDoubler’s strategy and products.

Highlights from 2004 are:

Revenues from continuing operations increased by 130 per cent to €65m (2003: €28 million)
900 clients – including new wins with Yahoo! Europe, Citibank, Eurostar and T-Online (2003: 665)
Unique visitors increased to 643 million (2003: 380 million)
Tracked and generated 5.5 million sales worth over €1 billion in sales value for clients (2003: 2.2 million sales / €400 million sales value)
14.6 million client leads (2003: 4.2 million)


Since first achieving profitability in 2002, TradeDoubler completed its second full year of profitability in 2004 due to robust revenue streams from the affiliate programme business and increasing its client base across all product areas. During 2004 TradeDoubler signed more than 200 new clients including Yahoo! Europe, Citibank, Eurostar and T-Online. Significantly, TradeDoubler also expanded existing relationships with key clients on an international basis, including Apple Store and Dell.

“I am pleased to announce that at the end of 2004 our activities have delivered another year of strong financial growth,” said Martin Henricson, CEO TradeDoubler. Our investment in our people and products, including the new AdTool solution and increased resources in our publisher teams throughout Europe, means that we are making excellent commercial progress. Our business activities are on a firmer footing than at any time since we were founded and we are excited about our prospects for 2005.”


Looking ahead to 2005 TradeDoubler will continue to grow all product areas. It will also expand the short term Campaigns business in order to increase TradeDoubler’s reach and attract more leading European publishers as well as assisting clients in reaching short term objectives.

TradeDoubler will continue to strive for increased growth, profitability and improved margins throughout 2005. It believes this will be achievable through strengthened relationships with existing clients, establishing new revenue streams, putting extra resource into key markets and assessing new markets whether within or outside Europe.

Wichtig ist dabei der Ausblick nach 2005 - schlicht und einfach glänzend, was man problemlos auf Linkshare übertragen kann.

3. Inzwischen haben bestimmte Beteiligungen wie Starcite und Freeborders eine Größe erreicht, dass ihr enormes Wachstum (siehe vorangegangene Postings) ins Gewicht fällt.

4. Die Ex-Sorgenkinder CommerceQuest und ICGCommerce haben keine rückläufigen Zahlen mehr, sondern steigerten schon im vierten Quartal ihren Umsatz binnen 90 Tagen um 20% und hatten nicht nur ein postives Ebitda, sondern echte schwarze Zahlen.

5. Der Hedge glaubt, dass Instiutionals, die inzwischen fast die Hälfte der Aktien halten (vor einem Jahr nur 2%), genau so zittrig und unfähig sind, eine Bilanz zu lesen, wie Zocker, die saisonale Effekte nicht mit der notwendigen Differenzierung behandeln können

kaufen

Der amerikanische Vermögensverwalter Janus Capital Group bricht eine Lanze für die verschmähten Wachstumstitel. Auf Grund einer historischen Analyse kommt Chief Invesment Officer Gary Black zu dem Ergebnis: "Die Marktrotation von Substanz- zu Wachstumsaktien ist längst überfällig."

Das Investmenthaus hat die Marktzyklen der beiden Investmentstile Value und Growth in den USA untersucht. Demnach bevorzugten Investoren in der Vergangenheit nach Wirtschaftskrisen für einen Zeitraum von drei Jahren Substanzwerte. Danach festigte sich das Vertrauen der Anleger in den Aufschwung, sodass Growth-Aktien die Nase vorn hatten. Doch diesmal lässt der Wechsel auf sich warten. Dreieinhalb Jahre nach dem Ende der jüngsten Rezession bevrozugen Investoren nach wie vor Substanzaktien. "Das hat es seit 25 Jahren nicht mehr gegeben", stellt Black klar. Offenbar wirkt der jüngste Börsencrasch noch nach. Nach Ansicht von Janus Capital können Anleger jetzt Wachtumstitel zu historisch günstigen Preisen kaufen.

Aus den von Nachrichtendiensten veröffentlichten Quartalsberichten kann man nicht viel erkennen, da z.B. die dort genannten Umsätze nur drei von 30 Beteiligungen enthalten sind. Zusätzliche Informationen gibt es aber im Gegensatz zu früher jetzt reichlich von Internet Capital unter:

www.internetcapita l.com/news/pdf/Financials 1Q05_suppa.pdf

Nach einer zweiten Durchsicht der Zahlen hat Internet Capital leicht positiv überrascht. Ich hatte ja für die zehn Kernbeteiligungen Erlöse von 61 Millionen vorausgesagt, geworden sind es nun 62,3, wobei sogar noch Ecrecit dabei fehlt, da sie nicht mehr bei den Kernbeteiligungen aufgeführt wird - mit einer derartgen Steigerung hatte ich nicht gerecht.

Die Erlöse der jetzt neun Kernbeteiligungen setzen sich aus 14,4 Millionen für CommerceQuest, ICGCommerce und neuerdings Investorforce zusammen (hier bin ich leicht enttäuscht) und den 47,9 Millionen für Linkshare, GoIndustry, Credittrade, Freeborder, Marketron und Starcite zusammen, deren Steigerung mich sehr stark positiv überrascht hat. Weitere 5,6 Millionen kommen von drei weiteren Beteiligungen, für die auch Umsatze genannt werden (Co-nect, Computerjobs und Ecredt.com). Von diesen 13 Beteiligungen, an denen Internet Capital im Schnitt mit ca. 50% beteiligt ist, kommen also schon einmla Quartalsumsatze von 68 Millionen. Das ist sehr ordentlich, denn das gibt aufs Jahr hochgerechnete 272 Millionen, was erheblich über meinen Erwartungen liegt. Die anteiligen Umsätze von Internet Capital aus diesen 13 Beteiligungen dürften also bei ca. 130 Millionnen liegen - auch das ist ein Wert, der etwas über meinen bisher hier geposteten Ansätzen liegt.

sollte dies heute noch tun, denn ich meine, dass der Shortseller seine Verkäufe, die bezwecken sollen, ein Durchgehen der Kurse zu verhindern, nicht durchhalten kann.

Denn die heutigen Zahlen zeigen ganz deutlich, wie gut die langfristigen Chancen stehen. Die 130 Millionen anteilige überwiegend erstklassigen Umsätze von 13 Private Helds werden z.B. mit einem Kurs-Umsatz-Verhältnis von 1 bewertet. Tritt die Prognose von Internet Capital einer 15 bis 20%igen Steigerung dieser Umsätze im Laufe von 2005 ein, liegen wir sogar unter 1. Für geduldige Investoren ist das ein gefundenes Fressen - vor allem für institutionelle Investoren, die zuletzt vielleicht wieder etwas unsicher geworden waren.

Die ersten Kursgewinne können dabei ziemlich schnell gehen - für die weiteren ist aber weiterhin viel Sitzfleisch erforderlich, denn Internet Capital hat zwar ca. sechs bis sieben IPO-reife Firmen, die morgen auf den Markt kommen können, man ist aber man ist halt nie alleiniger Eigner. Am wertvollsten ist sicher Linkshare, aber das müssten die beiden anderen Eigner Mitsui und Comcast mitmachen. Aber warum sollten die und auch Internet Capital mit einer gut gefüllten Kasse, wenn Linkshare an Wert gewinnt und man z.B. über Comcast lesen kann: "Der größte US-Kabelbetreiber ist glänzend ins Jahr gestartet und hat seinen Nettogewinn auf 313 Millionen Dollar verfünffacht. Gleichzeitig erhöhe Comcast seine Cash Flow-Prognose und stellt zwei Milliarden Dollar für Aktienrückkäufe zur Verfügung."

denn dort wird bei Umsätzen von Null ein Kurs von 4,49 Euro gestellt. Wer diesen Kurs als Grundlage für seine Limitierung nimmt, bekommt heute vermutlich kein einziges Stück. Wer zu 4,60 zum Zuge kommt, dürfte schon eher ein Glückspilz sein.

US46059C2052

"We are pleased to deliver such strong results for our first publicly reported quarter," stated Kurt Johnson, CEO of Fastclick. "We attribute our record revenue in the first quarter to the success of our performance-based online advertising technology solutions and continued growth of our diverse advertiser and publisher network. Through our proprietary optimization technology, we are able to provide advertisers with a highly-automated method to increase their ROI. Simultaneously, our publisher partners enhance the value of their Internet advertising space through the greater revenue-generating opportunities our network provides."
First quarter highlights include:
· Revenue for the first quarter of 2005 increased 80% to $19.6 million compared to the year ago period and marks the ninth consecutive quarter of sequential revenue growth.
· Adjusted EBITDA grew by more than 20% to $2.4 million in the first quarter of 2005 from $2.0 million in the first quarter of 2004.
· Net income was $0.9 million, or $0.06 per fully diluted share.
· Fastclick's network grew to become the second largest online media property reaching over 119 million unique users in March, ahead of Yahoo!, AOL and MSN, according to comScore Media Metrix from its March 2005 Ad Focus report.
· Our network of websites grew to more than 9,000 and delivered more than 8.8 billion ad impressions across our network in March 2005.
First Quarter 2005 Results
Revenue - Fastclick reported record revenue of $19.6 million for the first quarter of 2005, an increase of 80 percent from $10.9 million for the first quarter of 2004.
Adjusted EBITDA - Fastclick's Adjusted EBITDA grew to $2.4 million for the first quarter of 2005, an increase of 20 percent over the $2.0 million reported for the first quarter of 2004. Adjusted EBITDA is defined as income before interest, taxes, depreciation, amortization and the non-cash stock-based compensation charge.
Net Income - The Company reported first quarter net income of $0.9 million, or $0.06 per fully diluted share, compared to $1.8 million, or $0.17 per fully diluted share, for the first quarter of 2004. Net income benefited from a lower tax rate of 2.3% due to the Company's S corporation status during the first quarter 2004. On September 27, 2004 Fastclick revoked its subchapter S corporation status and began operating as a C corporation. The Company's first quarter 2005 financial results reflect an effective tax rate of 42.8%, and increased expenses from the expansion of our operations. Adjusted net income, which excludes stock-based compensation, was $1.5 million for the first quarter of 2005 as compared to $1.8 million for the first quarter of 2004. Adjusted net income on a fully diluted per share basis was $0.11 per share in the first quarter of 2005 compared to $0.17 per fully diluted share in the first quarter of 2004.
2005 Outlook
"We are confident that our strategy will enable us to capture significant opportunities in the rapidly growing online advertising market in 2005. With the proceeds from the closing of our successful initial public offering, we currently have cash, cash equivalents and short-term investments totaling more than $80 million, and are well positioned to aggressively pursue our growth strategy," concluded Johnson.
For full year 2005 the Company expects revenues to be in the range of $88 million to $92 million and Adjusted EBITDA in the range of $12 million to $13 million. Fastclick expects total revenue for the second quarter of 2005 in the range of $20 million to $21 million and Adjusted EBITDA of $2.4 million to $2.6

Was nicht so gut ausfällt, ist, dass die Gewinne nicht so stark gestiegen sind wie der Umsatz. Das ist der Preis für die enorm schnelle Expansion. Und schon von daher ist das Unternehmen nicht mit Linkshare zu vergleichen, das sehr viel kontinuierlicher gewachsen ist. Ausserdem dürften Ebitda und Gewinn von Linkshare trotz in etwa gleicher Erlöse (vielleicht bei Linkshare etwas mehr) um ein Vielfaches größer sein. Denn Linkshare schreibt bereits seit vier Jahren schwarze Zahlen und ist bereits bei Erlösen zwischen 25 und 30 Millionen in die Gewinnzone gekommen. Linkshare hat zudem sehr viele merchants, während Fastclick nach den Aussagen seines IPO-Prospekts 50% seiner Umsätze mit nur 10 Kunden macht. Wie ganz anders das Konzept von Linkshare aussieht, könnt Ihr erkennen, wenn Ihr Euch einmal die nachstehende Liste der Merchants von Internet Capital anseht (und auch dieser vielen Firmen sind nur ein Auszug aus der Kundenliste):

www.linkshare.com/ clients/extended.shtml

Noch extremer sind Unterschiede, wenn man die Zahl der Drittweb-Seiten vergleicht, über die das Online-Marketing platziert wird. Bei Fastclick sind das 3.000, bei Linkshare rechnet man in Hunderttausenden bzw. Millionen, wie ihr nachstehend entnehmen könnt:


LinkShare pioneered online affiliate marketing, and today runs the largest pay for performance affiliate marketing network on the Internet.
Featuring our patented technology, we provide all the tools and services merchants need to create, manage and optimize a successful affiliate marketing program.
With over 10 million partnerships in the network it is the most successful pay for performance network of its kind. Click on Merchant information or Affiliate information above to find out how you can become part of our winning network today.

"The value of a LinkShare affiliate marketing program to drive distributed commerce online continues to attract leading companies," says Heidi Messer, President and COO of LinkShare. "With hundreds of thousands of affiliate partners in the LinkShare Network, our clients have access to one of the largest distribution channels online to reach their end consumers."
Over 90% of the new clients did not previously have an affiliate program solution - the relationship with LinkShare will be their first entry into this performance-based marketing industry. More and more businesses are looking to affiliate marketing to help them achieve greater reach online effectively and efficiently.
"Charming Shoppes, Inc. is focused on building a solid distribution channel through affiliate partners to ensure that our products and promotions have the broadest reach to consumers online. The LinkShare Network will be a powerful contribution to the growth of our program and to meeting our revenue goals this holiday season," says Robin Baskin, Vice President of Internet Marketing.
Several LinkShare affiliate marketing programs, including one for Frederick's of Hollywood, should be launching within the next few weeks.
"We decided to switch program providers to LinkShare so that we could have greater control and management of our affiliate channel. The tools that LinkShare provides will allow us to manage the Frederick's of Hollywood affiliate program more effectively and efficiently," says Mike Leonard, Online Marketing Specialist at Frederick's of Hollywood. "We're looking forward to our new partnership with LinkShare."

About LinkShare Corporation
LinkShare Corporation is a leading provider of technology solutions to track, manage, and analyze the performance of sales, marketing, and business development initiatives. Combining patented technology, the reach and distribution of a robust network, and expert account management services, LinkShare empowers clients with the ability to collaborate with partners online and develop cost-efficient pay-for-performance campaigns. LinkShare provides the platform, tools, and reporting to help clients acquire new customers, increase revenues, drive results, and measure success across affiliate, search, and email initiatives. LinkShare clients are Fortune 500 and prominent companies doing business online, and include J.C. Penney, 1-800-Flowers.com, AT&T Corp., American Express, Avon Products and Dell, Inc. LinkShare was founded in 1996 and is headquartered in New York City, with offices in San Francisco, Denver, and Chicago.

LinkShare is proud to receive financial, operational and strategic support from Mitsui & Co., Ltd. (NASDAQ: MITSY), Mitsui & Co. (U.S.A), Inc., Internet Capital Group (NASDAQ: ICGE), and Comcast Interactive Capital, an affiliate of Comcast Corporation (NASDAQ: CMCSK; CMCSA).

Eigentlich hätte jetzt im Januar 05 ein Bericht über den Verlauf des vierten Quartals folgen müssen, das noch einmal eine Steigerung beim Gewinn neuer Kunden brachte - die Rekordzahl von über 50 Neukunden mit viel Prominenz wie z.B. Nokia dazu. Davon war aber auf der Webseite von Linkshare nichts zu lesen. Man konnte sich das allerdings mit Hilfe der nachstehenden Informationen aus dem Resoruce-Center von Linkshare mühsam zusammensuchen:

www.linkshare.com/ rc/nma-main.shtml

Denn dieser Informationen musste man ja den Affiliates liefern, damit sie diese Firmen auch auf ihren Websiten integrieren konnten.

Wer hat denn da bei Linkshare den Verantwortlichen die Hand geführt, uns einen zusammenfassenden Bericht vom besten Quartal überhaupt im Januar 05 vorzuenthalten? Ihr müsst nicht dreimal raten - das ist ziemlich einfach. Ihr müsst Euch nur die Liste der Insiderkäufe bei Internet Capital ansehen. Da stellt Ihr fest, dass der CEO Buckley im Februar für 200.000 Dollar gekauft hat und der CFO Dolansky für 100.000 Dollar und ein von IBM gekommenes neues Mitglied im Führungsteam ebenfalls.

Dass Linkshare auch bisher keinen Bericht über das erste Quartal 05 vorgelegt hat, der überlicherweise Ende April gekommen wäre, wenn man wie bisher verfahren hat, verwundert da kaum noch.

Was sollte man daraus für Lehren ziehen? Meines Erachtens nur eine, wie das der CEO Buckley und der CFO Dolansky auch getan haben. Die haben sogar zu höheren Kursen gekauft als wir sie jetzt haben. 200.000 bzw. 100.000 Dollar sind zwar nicht die Welt, aber ein gewisser Fingerzeig meines Erachtens schon.

Linkshare und kleine Inet's

Wir konten in den letzten Wochen eine Zweiteilung des Marktes bei den Online-Marketing-Firmen erleben: Google und Yahoo stiegen, der Rest fiel - telweise stark. Linkshare und Internet Capital wurden dabei über Gebühr in Geiselhaft genommen.

1. Linkshare steht nur für ca. einen Drittel des Wertes von Internet Capital. Ich muss gestehen, dass ich durch mein Posting auch etwas dazu beigetragen habe, Internet Capital und Linkshare fast gleichzusetzen.

2. Momentan übertreiben die Märkte, z.B. das bei Valusclick ist ihnen nicht mehr gut genug, obwohl das mit einem 2005er KGV von ca. 25 einhergeht: ""Our multiple online marketing channel strategy helped drive 40 percent pro-forma organic revenue growth and a doubling of operating income year-over-year in the first quarter," said James Zarley, chairman and chief executive officer of ValueClick. "Our first quarter performance sets the stage for another successful year for ValueClick, where we expect to invest for future growth and still drive the expected EBITDA profitability illustrated in our upwardly-revised 2005 guidance."

3. Hohe Kostensteigerungen bei einigen schnell hoch geputschten Online-Marketingern wie Fastclick werden auf alle ´kleine Marketing-Unternehmen übertragen, auch solche, die z.B. völlig organisch über Jahre gewachsen sind und ihren Gewinn wesentlich schneller steigern als die Umsätze, was bei einigen gepushten Unternehmen nicht der Fall ist.

4. Aber selbst wenn wir das alles akzeptieren, können wir bei Linkshare immer noch einen Wert von 350 bis 400 Millionen ansetzen, denn man kann in etwa die Häflte des Wertes Valueclick unterstellen. Die 40% davon sind 140 bis 160 Millionen. Zusammen mit den Aktien von Blackboard ergibt das schon allein die momentane Marktkapitalisierung von Internet Capital. Also selbst bei Annahme schlechtester Bedingungen haben wir noch eine Unterbewerung um den Faktor 2 bis 3, bei einer Nomalisierung der Märkte um den Faktor 4 bis 6.

der wohl wertvollsten Internet Capital-Beteiligung kann man ganz gut nachvollziehen, zumindest die Umsätze - auch wenn da nichts direkt veröffentlich wird und man aus diesem Grund auch seine Teilnahme am Fast 50-Wettbewerb, den man als einziges US-Unternehmen zweimal hintereinander gewonnen hat (zuletzt für 1998 bis 2002), eingestellt hat.

Zudem veröffentlichen die beiden größten Wettbewerber, Commission Junction und Tradedoubler Zahlen, aus denen man gewisse Rückschlüsse ziehen kann. Allerdings ist Commission Junction nur eine Division von ValueClick, anscheinend aber die wertvollste, und Tradedoubler ist kein börsennotiertes Unternehmen. Von Tradedoubler wissen wir dass die in 2004 enorm gewachsen sind - und zwar um 130% auf einen Umsatz von 65 Millionen und beim Personalbestand fast mit Linkshare (ohne LinkshareJapan) gleichgezogen haben. Bei Tradedoubler dürfte mit Sicherheit in 2005 die 100-Millionen-Marke fallen - das ist auch der Umsatz, den ich Linkshare für 2005 zubillige. Vielleicht auch noch ein Hinweis zum Wachstum von Valuecklick, es lag in 2004 bei 40%, allerdings haben die verschiedene Formen von Online-Marketing, haben aber darauf verwiesen, dass sie das Gesamtwachstum von 40% vor allem geschafft haben, weil Affiliate Marketing so gut lief. Damit muss das Wachstum dieses Bereich auch wesentlich größer gewesen sein als 40%. Über den Daumen gepeilt gehe ich davon aus, dass Linkshare ca. die Häfte des Wertes von Valuecklick hat. Zwar ist Valueclick von Werte jenseits der Milliarde auf 800 Millionen abgerutsch - woraus sich für Linkshare aber immer noch Beträge von 400 Millionen ableiten ließen. All diese Zahlen stammen aus einem Umfeld, in dem Werte wie Valueclick gerade enorme Prügel bekommen haben - auch die unterschedliche Entwicklung von großen und kleinen I-Nets habe ich ja schon hingewiesen.






 
snag  




07.05.05, 21:17 Uhr (38 Klick(s)) Beitrag anzeigen

400 Millionen oder eine Milliarde für Linkshare

wenn die Bewertung der Online-Marketing-Unterneh men, die es neben Google und Yahoo gibt, wieder besser wird, hat logischerweise auch auf den Wert von Internet Capital erheblich Einfluss. Denn wäre Linkshare z.B. einen Wert von einer Milliarde verkörpern, was ich für die nahe Zukunft nicht ausschließe, stünde das allein schon für einen Kurs von zehn Dollar bei Internet Capital.

Deshalb ist die Beobachtung des Bereiches Affiliate Marketing und angrenzender Gebiete des Online-Marketing für an Internet Capital Interessierte sehr wichtig. Für den Bereich gibt es inzwischen auch eine eigene Fachzeitschrift. Leider komme ich an den nachstehenden Beitrag nicht dran. Vielleicht liest ihn zufällig jemand, der mit Affiliate Marketing beruflich zu tun hat und z.B. über seine Firma an diesen Artikel rankommt. Ideal wenn er den Artikel hier reinstellen könnte bzw. Auszüge davon oder in anderer Form darüber berichten könnte:


Revenue Magazine Tackles Global Issues

San Francisco, April 12, 2005 - Revenue, the only magazine focused on the fast-growing field of performance marketing, in this latest issue focuses on the international affiliate market, covering the major problems and issues, according to Montgomery Media International, a Montgomery Research, Inc. company.

"Performance marketing is gaining momentum internationally; new markets mean new merchants and new affiliates, which creates more opportunities for the entire community. It has been an exciting quarter investigating these new frontiers," said Nick Smith, publisher of the quarterly magazine.

The The cover story of the just-released sixth issue explores everything affiliates and managers need to know about international affiliate marketing – the pitfalls, the benefits and who’s competing with whom. Issue 6 also gives tips for making seasonal sites a success all year long; a glimpse into a typical day for affiliate peers; and ten tools that will make affiliate life much easier. In addition, we’ve got great information on international search, marketing in a global environment and lessons from an affiliate that didn’t make it.

In this issue Revenue is supported by over 50 advertisers, including Buy.com, Commission Junction, Findology.com, Geico, Lands’ End, LinkShare Corporation, Performics Inc., Target Corporation and Wal-mart.

Revenue explores the strategies, technologies, designs and best practices that help affiliates and merchants achieve success in performance marketing, a fast-growing area of e-commerce in which independent Web publishers, usually operating as small businesses, generate commissions by introducing consumers to the sites of larger merchants.

Revenue is available through major book and magazine dealers. It is also sold through subscriptions, including those offered through the magazine's own affiliate marketing program www.RevenueToday.com.

About Montgomery Media International

Montgomery Media International, a division of Montgomery Research, publishes consumer magazines and contract publishing solutions. Find out more about Montgomery Media at www.montgomerymedia.com.

Press Contacts

Nick Smith, Publisher
Tel: 415-397-2400
nick@revenuetoday.com

Lisa Picarille, Editor
Tel: 415-397-2400
l.picarille@revenuetoday. com

Mein Interesse hat vor allem dieser Passus aus dem vorstehenden Artikel gefunden: "In this issue Revenue is supported by over 50 advertisers, including Buy.com, Commission Junction, Findology.com, Geico, Lands’ End, LinkShare Corporation, Performics Inc., Target Corporation and Wal-mart." Da werden von den 50 behandelten Unternehmen 10 herausgestellt, Konkurrenten von Linkshare (Commission Junction, Performice usw.) und Affiliate Marketing betreibenden Firmen. Bei den herausgestellten Affiliate Markting betreiben Firmen ist interessant, dass diese weltbekannten Namen fast alle bei Linkshare sind: Lands' End, Target, Wal-mart.

As many as you like. However, Lands' End reserves the right to terminate any Affiliate with links to Web sites containing objectionable content.

How soon can I get started?

The approval process usually takes about a week. You'll receive e-mail notification the same day we approve your site. Your notification e-mail contains all the info you need to get started immediately.

How do I know how much I've earned?

Once approved, you'll be assigned your own password-protected Personal Account page on the LinkShare Web site. You'll have access to a full menu of detailed Web-based reports to keep track of your site's earnings and performance.

When do I get paid?

You'll receive a check each month for the previous months earnings, provided that your account is owed $25 or more. If not, we'll roll your balance until you reach $25.

How much can I make?

We'll pay 5% of each sale that occurs on a click-through from your site. How much you earn depends on how many of your visitors click on the Lands' End banners and how much those visitors spend at our store. If a shopper later returns merchandise, a subsequent payment may be adjusted accordingly.

Where do I get banners?

After you're approved, we'll send you links to a spot on the LinkShare Web site where you can obtain banners.

How do I update my banners?

It's automatic. Once you're linked, we'll update your banner(s) with fresh content for the same or a similar product category.

How do I quit the program?

Go to your Personal Account page on the LinkShare Web site and hit the "delete merchant" button. That's it!

Still got a question?

You can e-mail our Affiliate Managers directly at affiliate@landsend.com. They're ready and willing to address all the particulars of your individual program.

Auch Target baut auf Linkshare

der wertvollsten Internet Capital-Beteiligung (Anteil = 40%). Noch einmal zum vorletzten Posting und dem dort erwähnten Artikel, in dem die sicher auch Euch bekannten Firmen Lands' End, Target und WalMart besonders herausgestellt wurden, die alle drei ihre Affiliate Marketing von Linkshare organisieren und abwickeln lassen. Hier also Näheres zu Target (der Online-Seite, die zu dem fünf weltweit am meisten verkaufenden Seiten gehört).

Point. Click. Grow. With the Target.com Affiliate Program

Join the Target.com Affiliate Program and put one of the nation’s most recognized brands to work for you.

Our affiliate program is your opportunity to grow with Target.com, one of the top five online retail sites. We’ve added thousands of new products, which means thousands more reasons for guests to shop and ways for you to earn commissions. Join today and start earning commission on every sale you refer to our site.

Target is one of the most recognized brands in the U.S., and Target.com is one of the fastest growing retail sites on the Internet. People who shop our site find a huge selection at low prices, plus exciting new promotions every week. As a member of our affiliate program, that adds up to great commissions for you.


The Target Affiliate Program is powered by Linkshare, the company that pioneered online affiliate marketing and runs the largest, most successful pay-for-performance affiliate marketing network on the Internet. They provide the tools and services that make it easy to track and earn commissions.

Find out more, then join. (It’s free!)

Join the Target.com Affiliate Program now

Specific Terms & Conditions

Der rechnet das aus den Gewinnsteuern der Beteiligungen hoch, die gezahlt werden. Ja, die fallen tätsächlich an, denn ein Teil der Beteiligungen macht Gewinne, ein Teil noch Verluste. Auf die Cash von Internet Capital hat aber weder das eine noch das andere einen Einfluss, da jede Beteiligung ihren eigenen Kassenbestand hat. Erst, wenn wie z.B. zuletzt bei Blackboard Aktien oder andere Anteile verkauft werden, ist das kassenwirksam. Absolute Zahlen, wie der Ami sie bringt, sind insofern etwas problematisch, da auch die Gewinne anderer Beteiligungen für die Steuerzahlungen maßgeblich sind. Obwohl, es wird sich ziemlich auf Linkshare beschränken - denn auch nach dem Erreichen der Gewinnzone müssen wohl die meisten Beteiligungen noch keine Gewinnsteuern bezahlen, da sie zunächst noch Verlustvorträge nutzen können. Daher dürfte der Ami richtig liegen, denn nur Linkshare macht schon vier Jahre Gewinne, und zwar so dicke, dass da mit Sicherheit keine Verlustvorträge von früher mehr zur Verfügung stehen.

Did anyone notice Linkshare's profits..
by: myfriendlyadvice
Long-Term Sentiment: Strong Buy  05/09/05 11:05 am
Msg: 232231 of 232248

almost doubled in just one quarter?????

Don't know if that's the European market starting to kick in or not, but I was sure impressed.

Give them a P/E of around 45 and you have a billion dollar market cap (ICGE owns 40% of that).



Posted as a reply to: Msg 232227 by place2b2b  

Ich will jetzt nicht behaupten, dass dies der Grund dafür war, dass jetzt innerhalb kürzester viel Positives von Satrcite berichtet wrid. Vielleicht wird das Unterdrücken von positiven Information für Internet Capital gefährlicher, weil die dort jetzt mehr als 50% halten - und da könnte die SEC manchen Sachverhalt anders auslegen als bei 37%. Wie gesagt, hier weiter Positives von Starcite.

ICGE hält 53% an StarCite

May 09, 2005 10:00 AM US Eastern Timezone

Morgans Hotel Group First To Integrate Daylight, StarCite To Speed Group Meeting Response

NEW YORK & PHILADELPHIA--(BUSINESS WIRE)--May 9, 2005--Morgans Hotel Group is the first hotel company in the USA to incorporate an integrated group lead solution from Daylight Software and StarCite, Inc., the companies announced today. In utilizing the integrated technology, Morgans will gain the ability to seamlessly view, analyze, price, and book meetings into any of its nine properties, thereby streamlining the meeting Request For Proposal process and enabling its sales executives to faster and more accurately respond to planners.


As part of its overall sales distribution strategy, Morgans Hotel Group has also:

-- Purchased marketing packages for each property in the StarCite Online Marketplace;

-- Added StarCite's private-label Group RapidRFP(TM) to its own hotel web site, www.morganshotels.com, to provide planners with a response mechanism;

-- Partnered with intermediaries including American Express and HelmsBriscoe, both of which use StarCite technology; and

-- Trained its 45 sales representatives to understand and leverage the technology in changing market conditions.

Morgans Hotel Group is known for its boutique hotels and savvy database marketing. A collection of nine properties with meeting space ranging from 2,000 to 18,000 square feet, Morgans Hotel Group began looking for a single technology solution to replace nine disparate systems last fall.

" We had superstar salespeople in many cities, but we needed a way to leverage their relationships for all our properties," said T. Blake Danner, Senior Vice President of Sales, Morgans Hotel Group, New York. " We knew we couldn't be the largest sales force, so we focused on providing our team the tools to create better synergy between our hotels. We sought technology that would encourage more cross-selling, provide more robust property information and increased flexibility, acquire more accurate customer data, and access real-time availability for all hotels. All of this while at any property, customer office, home or location," Danner said.

The integrated solution from Daylight-StarCite addresses these requirements. With single access to their custom Daylight Advanced Sales and Catering(TM) sites, sales representatives can view, respond to, and manage all leads and gain access to any information in the database about properties, space, bookings, customers, etc. All leads sent through StarCite technology to a Morgans property automatically populate the company's Daylight solution. All RFP responses entered into Daylight automatically populate the planner's custom site within StarCite.

To ensure that planners consider Morgans Hotel Group properties including the Delano or The Shore Club in Miami, Hudson, Royalton or flagship Morgans in New York City, or others in San Francisco, London and Los Angeles, the hotel company has enhanced its StarCite's marketing programs and banner advertising.

On its own web site, MHG added StarCite's Group RapidRFP(TM) technology to give users an easy, quick way to communicate all group needs to one property, or all. Leads from the site are automatically flowed to MHG's Daylight application.

Since the two-way interface between Daylight and StarCite was implemented, " our operation is more efficient, faster, more customer-focused and clearly gives us a competitive edge. In some cases, we have responded to the planner and begun negotiations before our competitors have even found the lead in their stack of faxes," Danner added.

" It's clear that Morgans executives understand how to embrace advanced technology now available to level the playing field with much larger competitors," said John Pino, chairman and CEO of StarCite, Inc., Philadelphia. " We commend their innovative approach to developing the strategy, and executing it so well. We look forward to working with Morgans in driving more RFPs to their growing portfolio of unique hotels."

About StarCite, Inc.

StarCite, Inc. provides the most comprehensive suite of applications and services to the $300 billion meeting and events industry. StarCite helps drive efficiencies and cost savings to both corporate buyers and suppliers. More than 400 corporate, association and third-party meeting buyers rely on StarCite's Enterprise Meeting Solutions for workflow, procurement, supply chain management, spend analysis and attendee management. Thousands of industry suppliers rely on the StarCite Online Marketplace, Supplier Marketing Programs and Enabling Technologies to increase meeting revenues. StarCite's international division represents destination management companies and other premier international travel suppliers using both technology and traditional means. StarCite is based in Philadelphia. Investors in StarCite include Internet Capital Group (Nasdaq: ICGE); Maritz Travel Company; Seaport Capital; Starwood Hotels & Resorts Worldwide, Inc.; and TL Ventures. For more information about StarCite, or its technologies and services, please visit www.StarCite.com.





Und heute das von Starcite

wo Internet Capital gerade seinen Anteil von 37 auf 53% erhöht hat und das ein rasantes Wachstum hinlegt, für das die Expansion in Europa das Tüpfelchen auf dem "i" ist:

Maritz Europa, StarCite Announce Strategic Partnership

Strengthens StarCite Marketplace As Largest In Europe, North America

LONDON and PHILADELPHIA – May 10 , 2005 – Maritz Europa and StarCite, Inc. today announced a new strategic partnership designed to help both companies grow their share of the corporate strategic meetings management business in the burgeoning European market. StarCite is recognized as the largest North American, electronic lead generator for European-bound meetings. This agreement, combined with StarCite’s growing global customer deployments, will make StarCite the largest electronic lead generator in Europe.

The technology, distribution and marketing agreement is designed to help StarCite expand its sales, use and service capabilities in Europe and help Maritz Europa leverage leading edge technology for both client and internal use.

Acting as a general sales agent for StarCite, Maritz Europa will bring StarCite’s leading meeting management technology to its customers, suppliers, and other enterprises in the region. Maritz Europa serves clients in the automotive, pharmaceutical, technology, consumer products and other sectors. Additionally, Maritz Europa will encourage and promote the adoption of StarCite’s technology in the European Supplier Community.

Internally, Maritz Europa plans to use StarCite’s leading sourcing, marketplace and attendee management technologies for the meetings and events it manages for clients. The StarCite Online Marketplace is currently the largest, global marketplace for meetings and events with 77,000 suppliers. The technology allows enterprises to identify and manage sourcing to preferred suppliers, create a central calendar of all meetings and effortlessly consolidate data by business unit, vendor or enterprise.

StarCite also will rely on Maritz Europa’s 30-year expertise in the European market to help it expand its presence in Europe and service an expanding client base.

Headquartered in Philadelphia, StarCite, Inc. is the leading provider of technology and services for the $300 billion global meetings and events industry. Its StarCite Online Marketplace last year delivered nearly 31,500 unique requests for proposals, representing $1.3 billion worth of lead opportunities to suppliers in 2004. StarCite offers the industry’s leading online attendee management tools with more than 1 million transactions a year. More than 400 corporations, associations and third-parties rely on its technologies, processes and services to gain a competitive edge by more effectively managing their meetings and events spend.

Headquartered in Marlow, with offices in Germany, Spain and France, Maritz Europa is a division of Maritz, Inc., the world’s largest source of integrated performance improvement, travel and marketing research services. Clients include 28 of the 50 largest companies in the world.

“More and more European companies are embarking on the road to drive through efficiencies and take costs out of their business. Whilst Europe presents a more complex cultural business environment than the U.S., the partnership with StarCite in Europe will allow us to mirror our successful strategy in the U.S. By using one common tool we can now move decisively towards meeting our clients’ corporate objectives on an in-country, regional and global basis,” said Dave Watkins, Chief Operating Officer of Maritz Europa. “We are all very excited about the partnership with StarCite in Europe as it allows Maritz to reinforce its position as market leader in Meetings Consolidation. Whilst not limited to the pharmaceutical market by any means, a number of our clients in this sector have already expressed a keen desire to adopt the technology as part of their pan-European approach to strategic sourcing.”

Shaun Casey, Director of Maritz Europa, will lead this pan-European service with strategic sourcing centers in the UK and Germany. Having worked in several of these Continental European markets, Casey has gained a thorough understanding of marketplace realities.

“With global demand growing significantly, StarCite is committed to advancing our sales and servicing capabilities around the world. We’re delighted to be partnering with Maritz Europa, one of the leading service providers in Europe, that shares our values and passion for improving meeting management in global corporations,” said John Pino, Founder and Chief Executive Officer of StarCite, Inc., Philadelphia. “We look forward to working together to capitalize on the tremendous synergies that come from this partnership, which will allow us both to better serve our respective customers.”

About Maritz Europa
Maritz Europa is one of Europe’s market leaders in communications, event management and research services. With more than 400 employees in the UK, France, Germany and Spain, Maritz Europa provides customized marketing communications solutions to local, regional and global companies within EMEA. With more than 30 years’ operating experience in Event Management alone in Europe, Maritz Europa provides local language support for a whole range of meetings, conferences, product launches and incentive travel worldwide.

For more information about Maritz Europa, please visit www.maritz.co.uk.

About StarCite, Inc.

StarCite, Inc. provides the most comprehensive suite of applications and services to the $300 billion meeting and events industry. StarCite helps drive efficiencies and cost savings to both corporate buyers and suppliers. More than 400 corporate, association and third-party meeting buyers rely on StarCite’s Enterprise Meeting Solutions for workflow, procurement, supply chain management, spend analysis and attendee management. Thousands of industry suppliers rely on the StarCite Online Marketplace, Supplier Marketing Programs and Enabling Technologies to increase meeting revenues. Its StarCite International division represents destination management companies and other premier international travel suppliers using both technology and traditional means. StarCite is based in Philadelphia. Investors in StarCite include Internet Capital Group (Nasdaq: ICGE); Maritz Travel Company; Seaport Capital; Starwood Hotels & Resorts Worldwide, Inc.; and TL Ventures.

For more information about StarCite, or its technologies and services, please visit www.StarCite.com

M edia Contacts:

Shaun Casey
Maritz
+44 (0) 1628 496121
E-Mail to: shaun.casey@maritz.co.uk< br>
or

Mary Ann McNulty
StarCite, Inc.
(267) 330-0510
E-Mail to: mmcnulty@StarCite.com
<

On a daily basis, StarCite provides about $7.4 million worth of lead opportunities to hotels in its database, up 69% from one year ago. These figures exclude private-label sites, which StarCite supplies to Starwood Hotels & Resorts Worldwide, Fairmont Hotels & Resorts, Omni Hotels and a number of other suppliers.

Corporations, Hotels License Attendee Mgt. Technology

StarCite expanded use of its leading corporate strategic meeting management technology and processes to Diebold, TWI Extras meeting management firm and several blue-chip corporations. StarCite also licensed its attendee management technology to hotel management firm Pyramid Advisors, which is selectively offering registration sites as an incentive for meeting planners to book at two of its properties. On the supplier side, StarCite also expanded its relationship with a major hotel chain and renewed a technology deal with another.

StarCite International in the first quarter formed a new Scandinavian Consortium with leading hotels and destination management companies in Sweden, Norway and Denmark. StarCite International also expanded its technology and destination marketing relationships, signing the Austrian Tourist Office and the Netherlands Board of Tourism and Conventions.

About StarCite, Inc.

StarCite, Inc. provides the most comprehensive suite of applications and services to the $300 billion meeting and events industry. StarCite helps drive efficiencies and cost savings to both corporate buyers and suppliers. More than 400 corporate, association and third-party meeting buyers rely on StarCite’s Enterprise Meeting Solutions for workflow, procurement, supply chain management, spend analysis and attendee management. Thousands of industry suppliers rely on the StarCite Online Marketplace, Supplier Marketing Programs and Enabling Technologies to increase meeting revenues. Its StarCite International division represents destination management companies and other premier international travel suppliers using both technology and traditional means. StarCite is based in Philadelphia. Investors in StarCite include Internet Capital Group (Nasdaq: ICGE); Maritz Travel Company; Seaport Capital; Starwood Hotels & Resorts Worldwide, Inc.; and TL Ventures.

Interessant ist dabei, dass sie ihre Prognose für das Jahr leicht aufgestockt haben, denn beim letzten Mal waren es bis zu zwei Milliarden im Buchungssystem generierte Umsätze, jetzt sind es schon mehr als zwei Milliarden in 2005: "At the current pace, the company expects its growing, global user base to deliver more than $2 billion in revenue opportunities to hotels by year-end." Logischerweise fallen hier für das Buchungssytem nicht die Provisionssätze ab, wie bei anderen Reisebuchungssystemen, da die Ordersummen sehr viel höher sind, aber irgendwo zwischen 1,5 und 2% dürften es doch immerhin sein. Zusammen mit Planungs-Tools und anderen Dienstleistungen dürfte man in 2005 bei Erlösen zwischen 40 und 50 Millionen landen. Das ist zwar noch nicht die Welt, aber beim Marktplatz von Starcite sind ja erst zwei Milliarden von insgesamt 300 Milliarden Meeting-Umsätze gelandet. Da ist also noch allerdhand drin. Ob man schon in den schwarzen Zahlen ist? Ich vermute einmal noch nicht, denn das enorme Wachstum hat vermutlich eine Stange Geld gekostet. Ähnlich dürfte es auch bei Freeborders sein, die noch schneller wachsen und wo Internet Capital mit 48% beteiligt ist. Die wollten ursprünglich in 2005 mit einem Börsengang 200 Millionen einsammeln, haben das aber vermutlich vertagt, da durch die nochmal forcierte Expansion logischerweise auch Kosten entstehen, die das Erreichen der Gewinnzone verzögern. Aber aufgeschoben ist schließlich nicht aufgehoben.

Select a name below for more information.  Date  Shares Held   Change
(Shares)  % Change
(Shares)  Value
($1000)  
BARCLAYS GLOBAL INVE...  12/31/2004  4,424,140  12,052  0.27%  $25,527  

GRUBER & MCBAINE CAP...  3/31/2005  2,358,056  104,000  4.61%  $13,606  

DRIEHAUS CAPITAL MAN...  12/31/2004  2,097,395  2,097,395  New  $12,102  

TRAFELET & CO LLC  12/31/2004  1,000,000  1,000,000  New  $5,770  

TURNER INVESTMENT PA...  12/31/2004  725,065  676,875  >1,000.00%  $4,184  



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der wohl mit 100% momentan am schnellsten wachsenden Beteiligung von Internet Capital (Anteil = 48), die das Zeug zum BIG THING hat.

News

INDUSTRY WRAPUPS
Tech business

Freeborders connects Chinese workers with U.S. outsourcers

By Adrienne Sanders

Freeborders connects Chinese workers with U.S. outsourcers

Bangalore is so last season. Shenzhen is the new hot spot for in-the-know IT outsourcers.

At least that is what San Francisco-based Freeborders is banking on. The firm helps clients outsource software application work to China, where labor is half the cost of that in India, and educated workers are plentiful.

Freeborders expects to grow 100 percent this year. The company counts Coach, DuPont and Target among its customers. Freeborders, which has 325 Chinese employees and 60 U.S. employees, will hire 1,000 more, mostly in China, by the beginning of 2006. That's 10 to 15 people per week.

"With over 150,000 tech workers and a population of 9 million, Shenzhen has become the Silicon Valley of China due to its entrepreneurial character, world-class technology infrastructure and talented labor pool," said co-founder John Cestar.

in der Falle. Er hat sich alle Mühe gegeben, um den Kurs nach unten zu schaukeln. Da ist ihm auch teilweise gelungen, aber nicht mit den erhofften Begleitumständen - außer ihm hat nämlich kaum jemand, wie erhofft, mitverkauft. Schon gar nicht ist er zwischen seinen Verkäufen zum Eindecken gekommen. Und so werden wir am 15. dieses Monats vermutlich statt der etwas mehr als 2,8 Millionen mehr als drei Millionen Aktien leer verkauft haben - bei einem Free Float, den ich bei Kursen unter 8 Dollar mamimal auf acht Millionen Stück schätze. Allein 50% der 38 Millionen Stück liegen schon bei Institutionals und Insidern. Auch viele derenigen, die da nicht dazu gezählt werden, werden vor zehn oder gar 20 Dollar nicht verkaufen. Auch ich konnte heute nicht ganz widerstehen und habe eine Zinszahlung in eine Miniportion Internet Capital-Aktien umgewandelt.

die Meldungen zu Internet Capital, indem jede positive Meldung, wie die obige zu Ecredit oder die vielen positiven Meldungen zu Starcite oder Freeborders unterdrückt werden, obwohl sie in jeder Suchmaschine auffallen. Gemeldet wird z.B., dass eine Beteiligung von Internet Capital, Marketron, eine andere Unternehmung verklagt hat - ein Nonevent. Oder dass wieder eine von tausend Anwaltsfirmen Merrill Lynch verklagen, weil die einen Kunden in Sachen Internet Capital falsch beraten haben, weil der damals bei 4280 gekauft hat.

Hat Yahoo da eine neue Geldquelle aufgetan, wo Shortseller gegen Bezahlung positive Meldungen verschwinden lassen können. Zumindest bei Internet Capital ist das so auffällig, dass ich das fast für einen Fall für die SEC halte, denn so blauäugig und so einseitig manipulativ im finden kann man eigentlich nicht sein. So etwas geht eigenlich nur gegen Bares.