IRVINE, Calif., Feb. 24, 2000 (PRIMEZONE) -- Ibchannel.com reports on Incubator stock news this week.
Financial Performance Corporation (OTCBB:FPCX) announced that it has entered into an agreement to acquire iMapData.com, a Washington, D.C.-based electronic database information and proprietary Internet-based company, for $16 million in stock, based upon the closing price of FPC on February 23, 2000. The proposed acquisition is the first by FPC under a new business strategy that calls for it to shift its focus to Internet-related businesses and services aimed at the business-to-business market. Consummation of the acquisition is subject to the satisfaction of a number of conditions prior to March 3, 2000.
Incubator Company Ecomm Group Announces Strategic Wireless Content Initiative and Links with "Web to Wireless" Company Datalink.net - Commerce Group Corp.'s (OTCBB:CGCO) subsidiary Ecomm Group Inc. announced that it is expanding into wireless services and wireless Web content aggregation starting with a link with Datalink.net. Ecomm's link with Datalink.net (AMEX:DLK) will enable www.MyInternet.to visitors to remotely access real-time information, including financial and sports news. The services also alert users, via pager, to the presence of critical e-mail and allow e-mail retrieval and response via the Internet, facsimile or voice mail.
Ecomm is a next generation technology incubator company actively engaged in the conception and ongoing nurturing of development stage Internet businesses similar to NetValue or IdeaLabs! Ecomm's first incubator project, the MyInternet.to Web portal has been tested, marketed, and updated to maximize its market share on the Internet. The Web site has a static link to the highly trafficked www.ibchannel.com Web site.
Idealab! Silicon Valley Unveils First Company, Payme.Com - Idealab! (www.idealab.com), a leading creator and operator of Internet businesses, today unveiled payMe.com, a personal payment service that enables consumers to simply and securely request and accept payment from colleagues, clients, friends and family.
The first company to launch from idealab! Silicon Valley, payMe.com offers consumers a simple and secure way to transfer money, making collecting, receiving and depositing payments virtually effortless. For example, when a group of friends books a ski lodge, generally one person will pay the rental agency. With payMe.com, this person can simply divide the full cost and send a request for payment to the others in the group via email. Bill recipients can pay by credit card (online or over the phone) and will soon have additional convenient payment options, including check, money order or electronic fund transfer.
idealab! (www.idealab.com) creates and operates Internet businesses. Founded in March 1996 by Bill Gross, idealab! currently has approximately 30 businesses in various stages of development. In addition to capital, idealab! provides a full range of services to infuse startup companies with the development strategies and operating resources needed to rapidly introduce innovative products and services. Resources include office space and the accompanying network infrastructure, consulting and services relating to development and technology, graphic design, marketing, competitive research, legal, accounting and business development support and services. In addition, idealab! provides advice on strategy, branding and corporate structure. idealab! companies include: GoTo.com, eToys , NetZero, CarsDirect.com, cooking.com and WeddingChannel.com.
CBS Marketwatch on Incubators...
There are a ton of these Internet holding companies out there -- the big ones like Internet Capital Group, CMGI and Japan's Softbank. The mid-sized ones like London Pacific. And the really tiny, promising ones like Venture Catalyst, Net Value Holdings and M&A West, Inc..
But what if you don't want to pay two times the value of a publicly traded company's portfolio -- or more -- just to own a basket of hot new Internet companies.
Here's the secret. You don't have to.
The private equity arms of the New York City banks are filled with Internet and biomedical start-ups. These are some of the biggest banks in the world: Chase Manhattan, Goldman Sachs, Merrill Lynch, BancBoston and Norwest, now owned by Wells Fargo & Co..
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