ICGE - MK 135 Mio. ? - innerer Wert 700 Mio. ? !

The market-cap of Ariba is 2,700 million

The revenues of Ariba in the year 2010 was 375 million.

http://finance.yahoo.com/q/is?s=ARBA

Resuult of this numbers are 7.2-times-revenues.

Portional revenues from the partner-companies of Internet Capital in the year 2010 was about 140 million (without the revenues of Metastorm, the sale of Metastorm increased the cash to 130 million).

If this 140 million proportional revenues would be valued with 7.2-times-revenues = 1,008 million. Additional there are 130 million Cash/Securites in the balance of Internet Capital. But the market-cap of Interet Capital is only 465 million - without the 130 million Cash/Securites only 335 million.

Such a big divergence will never lastening for longer times.  

Der "Guru" für den Bereich Procurement Outsourcing, in dem die mit Abstand wertvollste Beteiligung ICGCommerce agiert.

http://www.procurementleaders.com/news/video/...ch-scenario-planning/

Allein diese 80% an ICGCommerce sind meines Erachtens mehr wert als die momentane gesamte Marktkapitalisierung von Internet Capital. Und kostenlose dazu gäbe es noch 130 Millionen Cash/Wertpapiere und die 9 anderen Beteiligungen neben den 80% an ICGCommerce.  

angesprochene Beteiligung ICGCommerce:

Owens Corning Selects Comprehensive Procurement Solution Provider ICG Commerce to Drive Value
Another Leading Global Manufacturer Adopts ICG Commerce's Specialized Procurement Infrastructure to Accelerate Delivering Value

 
On Wednesday March 30, 2011, 9:00 am

PHILADELPHIA, March 30, 2011 (GLOBE NEWSWIRE) -- Owens Corning, a leading global manufacturer of residential and commercial building materials, has signed a five-year contract with ICG Commerce, the leading comprehensive procurement solution provider. Through this new agreement, Owens Corning will leverage ICG Commerce's specialized procurement infrastructure which infuses teams of dedicated category experts, real-time market intelligence and proprietary technology into a comprehensive spend management process. The engagement will initially focus on optimizing spend in the areas of marketing, travel, legal, finance, consulting, rentals/leasing and human resources.



After conducting an analysis of available procurement solutions, Owens Corning selected ICG Commerce not only because of the breadth and depth of its infrastructure but also its track record of delivering sustainable value for other leading manufacturers.



"Owens Corning is driving towards a new standard of procurement, that includes applying deep category experts and domain knowledge across all areas of spend and delivering value that can have a meaningful financial impact on the business," said Carl Guarino, chief executive officer, ICG Commerce. "We are delighted to help them accelerate this impact."



The new relationship with Owens Corning reflects ICG Commerce's continued growth in the manufacturing industry. The company has also established a Manufacturing Executive Advisory Board, which met for the first time in March to discuss critical industry issues facing manufacturers. ICG Commerce also drives comprehensive procurement programs for a host of other leading manufacturers including, Goodyear, Timken, Greif, Doosan Infracore Construction Equipment and Cameron.



About ICG Commerce, Inc.



ICG Commerce, the leading procurement solution provider, is driving a fundamental change in the way today's businesses achieve financial agility and fund growth. ICG Commerce is the only procurement solution provider that has built a specialized infrastructure dedicated to helping companies optimize indirect spend and drive bottom line savings that strengthen their businesses. ICG Commerce is a privately held company and member of Internet Capital Group's (Nasdaq:ICGE - News) network of partner companies.



The ICG Commerce, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6920



About Owens Corning



Owens Corning (NYSE:OC - News) is a leading global producer of residential and commercial building materials, glass-fiber reinforcements and engineered materials for composite systems. A Fortune(R) 500 Company for 56 consecutive years, Owens Corning is committed to driving sustainability by delivering solutions, transforming markets and enhancing lives. Founded in 1938, Owens Corning is a market-leading innovator of glass-fiber technology with sales of $5.0 billion in 2010 and about 15,000 employees in 28 countries on five continents. Additional information is available at www.owenscorning.com.  

und hat das Zeug dazu, noch einen draufzusetzen.

Denn warum ich mit meinem inzwischen überaus ertragreichen Investment in Interner Capital meines Erachtens richtig liege, erklärt  Anthony B. Perkins, der Autor des legendäen Bestsellers "The Internet Bubble" in der letzten Ausgabe der Wirtschaftswoche recht gut.

Wirtschaftswoche: Herr Perkins, in ihrem Bestseller "The Internet Bubble" haben Sie im Oktober 1999 das Platzen der Internet-Blase prophezeit, das wenige Monate später tatsächlich eintrat. Sind wir jetzt in einer ähnlichen Lage angesichts der hohen Bewertungen von Unternehmen wie Facebook, Twitter oder Zynga?

Perkins: Nein. Damals war die Situation anders - mit Firmen, die wenig Umsatz machen und kein Geld verdienten. Das ist heute anders. Der Markt ist heute generell wesentlich größer, 1993 hatten wir zwei Millionen Internet-Nutzer, heute sind es ungefähr zwei Milliarden. Mein Bruder und ich haben ja in unserem Buch nicht nur das Platzen der Spekulationsblase prophezeit. Wir haben auch gesagt, dass nach dem Platzen der Blase viele interessante Internet-Firmen entstehen."  

Das Wachstum von ICGCommerce wird 2011 meines Erachtens mindestens wieder bei den 24% aus dem Jahr 2010 liegen. Die 80%ige Beteiligung von Internet Capital an ICGCommerce ist ja das mit Abstand wichtigste Asset von Internet Capital. Nach meinen Schätzung macht es 50% des Wertes von Internet Capital aus, während die 130 Millionen Cash/Wertpapiere und die anderen 9 privaten Beteiligungen neben ICGCommerce die restlichen 50% des Wertes von Internet Capital verkörpern. Dass daher die Entwicklung von ICGCommerce für Internet Capital besonders wichtig ist, muss ich daher eigentlich nicht extra betonen.

Wie 2010 die Lage von ICGCommerce war, wurde auf einer Slide Presentation von Internet Capital anläßlich des Geschäftsberichts für 2010 wie folgt dargestellt:

? 2010 revenues grew 24% to $101.1 million compared with 2009

? 2010 EBITDA increased to $17.1 million from $13.4 million in 2009

? Cash position at year end was $17 million

? Signed 6 new clients and expanded relationships with 6 existing clients in 2010, yielding $112.5 million in total contract value and bringing total backlog to nearly $300 million

? 4 of the 6 new clients were in the consumer products sector, where the company has established a vertical go-to-market model that will be extended to other sectors in 2011

? Total spend under management grew to $17.1 billion compared to $13.6 billion at the end of 2009

? Recruited Joe Waterman as Chief Financial Officer  

Dass ich mit meiner Schätzung des Wachstums für 2011 eher unter- als übertrieben habe, wird daran deutlich, dass im Laufe des Jahres sechs neue Kunden hinzugekommen sind und mit sechs die Geschäftsbeziehungen ausgeweitet wurden.  

bei den Neukunden meines Erachtens:

Owens Corning Selects Comprehensive Procurement Solution Provider ? ICG Commerce to Drive Value

Another Leading Global Manufacturer Adopts ICG Commerce?s Specialized Procurement Infrastructure to Accelerate Delivering Value

PHILADELPHIA - Wednesday, March 30, 2011 - Owens Corning, a leading global manufacturer of residential and
commercial building materials, has signed a five-year contract with ICG Commerce, the leading comprehensive
procurement solution provider.  Through this new agreement, Owens Corning will leverage ICG Commerce?s specialized
procurement infrastructure which infuses teams of dedicated category experts, real-time market intelligence, and
proprietary technology into a comprehensive spend management process.  The engagement will initially focus on
optimizing spend in the areas of Marketing, Travel, Legal, Finance, Consulting, Rentals/Leasing, and Human Resources.  

After conducting an analysis of available procurement solutions, Owens Corning selected ICG Commerce not only because
of the breadth and depth of their infrastructure but also their track record of delivering sustainable value for other leading
manufacturers.



ICG Commerce enters into Spend Management Contract with Elizabeth Arden

ICG Commerce selected for expertise in helping consumer products companies cut spending and realize savings

PHILADELPHIA - Wednesday, November 17, 2010 - As part of its strategic initiative to increase business efficiencies,
Elizabeth Arden, a global prestige beauty products company, has signed a contract with ICG Commerce, the procurement
outsourcing specialist. ICG Commerce will help the company manage spend across a range of categories, which include

any spend that is not central to the products that the company produces. Elizabeth Arden joins a number of other leading
consumer product companies including Kimberly-Clark, Chiquita and Pinnacle Foods who have partnered with ICG
Commerce to optimize spending to fund innovation and growth.

?We?re pleased to engage ICG Commerce as a key business partner and look forward to leveraging their capabilities to
rapidly deploy a world-class procurement operation which in the past has existed only among the largest manufacturers,?
said Pierre Pirard, Executive Vice President of Product Innovation and Global Supply Chain at Elizabeth Arden.  ?By working
together to create spend efficiencies, we expect to drive savings that we can use to improve our bottom line and fund
innovation as we expand our presence in prestige markets around the world.?

ICG Commerce will manage spend across categories including marketing, professional and corporate services and IT/Telecom.
The holistic solution will include strategic sourcing, category management, contract services and spend, and savings and
compliance reporting in North America and Europe.  



Doosan Infracore Construction Equipment to Leverage ICG Commerce to Drive Procurement Transformation through Outsourcing

Contract Reflects Growing Adoption of Procurement Outsourcing in Manufacturing Industry; ICG Commerce to Drive Cost Savings across Construction Manufacturer?s Non-Core Spend

PHILADELPHIA - Wednesday, July 21, 2010 - ICG Commerce, the procurement outsourcing specialist, will help drive
significant cost savings across non-core spending for Doosan Infracore Construction Equipment (DICE), an industry
leader in the engineering, manufacturing, and marketing of compact and heavy construction equipment, attachments,
air compressors, lighting systems, generators and articulated dump trucks. DICE is a global alliance that represents
world-renowned brands including, Doosan, Bobcat, Montabert, Portable Power and Geith. DICE will leverage ICG
Commerce?s purchasing category expertise, market intelligence and integrated infrastructure to help enable critical
internal resources to focus on core competencies.  

http://outsourceportfolio.com/china-outsourcing-hub/

Internet Capital hält dort 31% und sollte mit den auf jeden Fall zu großen 130 Millionen Cash versuchen, dort den Anteil zu erhöhen, denn ich halte das für vielversprechender als einen weiteren Kauf eines völlig neuen Unternehmens.  

die genau dieses Segment bearbeiten:

Technologischer Fortschritt heißt die Überschrift eines Artikels in der vorletzten Euro am Sonntag, der u.a. folgende Zeilen enthält:

"Elf Jahre nach dem Platzen des Tech-Bubble glauben die Experten der Legg-Mason-Unternehmenstochter Royce & Associates an ein Revival der Technologieaktien. Royce-Experte Frank Gannon prophezeit, dass der Technologiesektor in den USA von steigenden Ausgaben der Unternehmen für technologische Modernisierungen und von einer steigenden Nachfrage aus den stark wachsenden Schwellenländern profitieren werde."  

ICGCommerce (Anteil von Internet Capital = 80%), Govdelivery (Anteil von Internet Capital = 93%) und Investoreforce (Anteil von Internet Capital = 76%). Laut dem letzten Bericht war der Umsatzverlauf in der Vergangenheit wie folgt:    

1. quarter 2009: 21.290 million

2. quarter 2009: 22.085 million

3. quarter 2009: 23.273 million

4. quarter 2009: 26.025 million

1. quarter 2010: 26.589 million

2. quarter 2010: 27.324 million

3. quarter 2010: 30.638 million

4. quarter 2010: 33.114 million

Es spricht nichts dagegen, dass die fast wie mit dem Linear gezogen nach oben verlaufende Entwicklung abbricht, zumal wir von ICGCommerce, Govdelivery und Investorforce laufend Positives, Neukundengewinne und Volumenausdehnungen mit Bestandskunden vernehmen können. Daher meine Schätzung:

1. quarter 2011: 35.431 million

Auf diesen Wert oder einen in der nahen Umgebung könnt Ihr mich nach den Ergebnissen vom 5. Mai 2011 festnageln.  

die nicht direkt bilanziert werden, weil hier der Anteil unter 50%. liegt.

Die Erlössteigerungen bei den 4 equities cores Starcite, Channelintelligence, Whifence und Freeborders werden in der Zukunft größer ausfallen als in den letzten zwei Jahren, wo man insgesamt nur einen kleineren Zuwachs schaffte, weil der wirtschaftliche Einbruch zu schaffen machte, was durch das strukturelle Wachstum nur leicht übertroffen wurde, wie die folgende Umsatzreihe der letzten zwei Jahre zeigt:  

1. quarter 2009: 29.410 million

2. quarter 2009: 29.078 million

3. quarter 2009: 29.025 million

4. quarter 2009: 29.071 million

1. quarter 2010: 27.001 million

2. quarter 2010: 26.769 million

3. quarter 2010: 28.507 million

4. quarter 2010: 30.327 million

Mein noch vorsichtige Schätzung für das abgelaufene Quartal:

1. quarter 2011: 31.850 million  

http://finance.yahoo.com/news/...rter-pz-1369216642.html?x=0&.v=1

Der Kurs ist anschließend in etwa gleich geblieben. Die Fundamentals rechtfertigen zwar Kurse über 20 Dollar, aber wie beim Anstieg von 3,40 Dollar auf das jetzige Niveau ist vermutlich weiterhin Geduld vonnnöten, wenn kein Verkauf oder ein IPO von ICGCommerce erfolgt. Ich rechne allerdings vorerst nicht mit einem IPO, denn ICGCommcere wächst nachwievorgut und braucht dazu keine Cash, sondern hat sogar welche übrig, dass die letztes Jahr 25 Millionen ausgeschüttet habe, da sie einen sehr starken positiven Cash Flow haben. Hinzu kommt, dass sich momentan bei den nicht börsennotierten Unternehmen größere Wertsteigerungen ergeben als bei den börsennotierten und die Kosten einer Börsennotierung den Gewinn von ICGCommerce wohl um ein bis zwei Millionen wegen der zusätzlich anfallenden Kosten schmälern würden.

Vorstellen kann ich mir allerdings einen Verkauf von IGCommerce an ein größeres Unternehmen, das in diesen wachstumsstarken Markt eindringen möchte. Dazu müssten aber mindestens zwischen 650 und 750 Millionen Dollar fließen. Entgegen häufig geäusserten Meinungen bestehen bei diesem Markt hohe Einstiegshürden - zwar jeder mit diesem Geschäft leicht anfangen, aber er wird nur schwer Kunden bekommen, da hier der Netzeffekt sehr stark wird: Erst ein größere Anzahl von Kunden ermöglicht eine erfolgreiche Bündelung.  

ICGCommerce, Govdelivery und Investorforce: "Core consolidated revenue totaled $34.0 million in the first quarter of 2011, an increase of 28% from the corresponding 2010 period. Core consolidated EBITDA totaled $3.9 million for the first quarter of 2011, as compared to $1.9 million in the corresponding 2010 period."

Und über ICGCommerce wird noch speziell ausgeführt: "ICG Commerce reported $29.1 million of revenue for the first quarter of 2011, representing an increase of 27% over the comparable 2010 period. ICG Commerce's EBITDA, excluding stock-based compensation and unusual items, for the quarter ended March 31, 2011 increased to $5.2 million, up from $2.6 million in the comparable 2010 period."

Damit spricht vieles dafür, dass ICGCommerce die von mir bereits mehrfach gepostete Umsatzspanne von 125 bis 130 Millionen erreichen wird, denn schon auf der Basis des Quartalserergebnisses von 29,1 Millionen für das erste Quartal käme man auf ein hochgerechnetes Jahreserergebnis von 118,4 Millionen.  

trifft noch sehr viel stärker auf ICGCommerce und die Parntergesellschaften von Internet Capital zu:

http://www.investors.com/NewsAndAnalysis/...x?id=571051&ven=yahoo  

heißt die Überschrift eines Artikels in der Euro am Sonntag von vor 14 Tagen , der u.a. folgende Zeilen enthält:

"Elf Jahre nach dem Platzen des Tech-Bubble glauben die Experten der Legg-Mason-Unternehmenstochter Royce & Associates an ein Revival der Technologieaktien. Royce-Experte Frank Gannon prophezeit, dass der Technologiesektor in den USA von steigenden Ausgaben der Unternehmen für technologische Modernisierungen und von einer steigenden Nachfrage aus den stark wachsenden Schwellenländern profitieren werde."  

http://meetingsnet.com/medicalmeetings/...-automation-0429/index.html

Internet Capital hält 36% an Starcite, die vor der Krise schon einmal knapp über 50 Millionen Umsatz lagen und 2011 wieder das Vorkrisenniveau erreichen können.  

aber ich sehe das Unternehmen sehr gut positioniert und mit enormen Wachstumschancen. Hier ein guter Überblick über das Unternehmen:



http://pages.clickequations.com/...p;gclid=CMu7s6Xs4KgCFUww3wod2k2IBg

Internet Capital hält 33%.  

http://finance.yahoo.com/news/...Cite-bw-3840026882.html?x=0&.v=1

Internet Capital hält 36% an Starcite.  

consolidated Kernbeteiligungen:

Schätzung der anteiligen Umsätze - ICGCommerce

ICG Commerce reported $29.1 million of revenue for the first quarter of 2011, representing an increase of 27% over the comparable 2010 period.

My estimates for the next quarters in 2011 (base: growth-rate in 2010):

2. quarter: 30.8 million

3. quarter: 32.7 million

4. quarter: 34.7 million

That are together 127.3 million.

That a proportional revenues of 101.8 million for Internet Capital, because Internet Capital owning 80% of ICGCommerce.


Schätzung der anteiligen Umsätze - Govdelivery

We know first: Core consolidated revenue (ICGCommerce, Govdelivery and Investorforce) totaled $34.0 million in the first quarter of 2011, an increase of 28% from the corresponding 2010 period.

We know second: ICG Commerce reported $29.1 million of revenue for the first quarter of 2011, representing an increase of 27% over the comparable 2010 period.

Therefore we know: The diffence between 34.0 million and 29.1 million = 4.9 million must be the revenues of Govdelivery and Investorforce. After my estimates are 3.1 million revenues from Govedelivery and 1.8 revenues from Investorforce. We know additional from the quarter-report that Govdelivery and Investorforce had a growth-rate of 30% in the last year.

One the base of this facts my estimates for the revenues of Govdelivery in 2011 are:

1. quarter: 3.1 million

2. quarter: 3.3 million

3. quarter: 3.5 million

4. quarter: 3.8 million

That are together revenues of 13.7 million for Govdelivery in 2011.

That are proportional reveneus of 12.7 million for Internet Capital, because Internet Capital owning 93% of Govdelivery.


Schätzung der anteiligen Umsätze - Investorforce
We know first: Core consolidated revenue (ICGCommerce, Govdelivery and Investorforce) totaled $34.0 million in the first quarter of 2011, an increase of 28% from the corresponding 2010 period.

We know second: ICG Commerce reported $29.1 million of revenue for the first quarter of 2011, representing an increase of 27% over the comparable 2010 period.

Therefore we know: The diffence between 34.0 million and 29.1 million = 4.9 million must be the revenues of Govdelivery and Investorforce. After my estimates are 3.1 million revenues from Govedelivery and 1.8 revenues from Investorforce. We know additional from the quarter-report that Govdelivery and Investorforce had a growth-rate of 30% in the last year.

One the base of this facts my estimates for the revenues of Investoreforce in 2011 are:

1. quarter: 1.8 million

2. quarter: 1.9 million

3. quarter: 2.0 million

4. quarter: 2.1 million

That are together revenues of 7.8 million for Investorforce in 2011.

That are proportional revenues of 5.9 million for Internet Capital, because Internet Capital owning 76% of Investorforce.  

ist, kann man schon an den drei konsolidierten Kernbeteiligungen von insgesamt 10 Kernbeteiligungen erkennen. Denn es stellt sich Frage mit welchem Multiple diese anteiligen 122,3 Millionen zu bewerten sind. Wir wissen außerdem, dass das Umsatzwachstum dieser drei Beteiligungen 28% war. Bei einem Vergleich mit ähnlichen Unternehmen kommt man da in eine Range zwischen 5 und 15. Setzt man auch 5 liegt man mit 611 Millionen schon um 130 Millionen über der gesamten Bewertung von Internet Capital. 125 Millionen Cash/Wertpapiere und die anderen sieben von insgesamt 10 Beteiligungen gäbe es noch gratis dazu.  

Kernbeteiligungen:

Schätzung anteiliger Umsätze/Channelintelligence

Revenues of the four Core Equity Companies Channelintelligence, Starcite, Freeborder and Whitefence increased from 27.001 million in the first quarter of 2010 to 29.006 million in the first quarter 2011.

Additional we have the following information about revenues-ranges in 2010: Our Core Equity Companies (including ownership % and 2010 revenue range in parentheses) consist of: Channel Intelligence, Inc. (50%) ($20-$30 million), Freeborders, Inc. (31%) ($20-$30 million), StarCite, Inc. (36%) ($40-$50 million) and WhiteFence, Inc. (36%) ($10-$20 million).

Result of the second information is the following sharing of the 29.006 million:

Channelintelligence = 6.2 million

Freeborders = 7.0 million

Starcite = 11.5 million

Whitefence = 4.3 million

The estimates for the revenues bases on this information and about former informations about the good growth of Channelintelligence:

1. quarter 2011 = 6.2 million

2. quarter 2011 = 6.5 million

3. quarter 2011 = 6.8 million

4. quarter 2011 = 7.0 million

That are together 26.5 million revenues in 2011.

That are proportional revenues of 13.2 million, because Internet Capital owning 50% of Channelintelligence.



Schätzung anteiliger Umsätze/Freeborders

Revenues of the four Core Equity Companies Channelintelligence, Starcite, Freeborder and Whitefence increased from 27.001 million in the first quarter of 2010 to 29.006 million in the first quarter 2011.

Additional we have the following information about revenues-ranges in 2010: Our Core Equity Companies (including ownership % and 2010 revenue range in parentheses) consist of: Channel Intelligence, Inc. (50%) ($20-$30 million), Freeborders, Inc. (31%) ($20-$30 million), StarCite, Inc. (36%) ($40-$50 million) and WhiteFence, Inc. (36%) ($10-$20 million).

Result of the second information is the following sharing of the 29.006 million:

Channelintelligence = 6.2 million

Freeborders = 7.0 million

Starcite = 11.5 million

Whitefence = 4.3 million

The estimates for the revenues bases on this information and about former informations about indicators of growth (for example 46 new job-offers):

1. quarter 2011 = 7.2 million

2. quarter 2011 = 7.5 million

3. quarter 2011 = 7.8 million

4. quarter 2011 = 8.2 million

That are together 30.7 million revenues in 2011 for Freeborders.

That are proportional revenues of 9.5 million for Internet Capital, because Internet Capital owning 31% of Freeborders.


Schätzung anteiliger Umsätze - Starcite

Revenues of the four Core Equity Companies Channelintelligence, Starcite, Freeborder and Whitefence increased from 27.001 million in the first quarter of 2010 to 29.006 million in the first quarter 2011.

Additional we have the following information about revenues-ranges in 2010: Our Core Equity Companies (including ownership % and 2010 revenue range in parentheses) consist of: Channel Intelligence, Inc. (50%) ($20-$30 million), Freeborders, Inc. (31%) ($20-$30 million), StarCite, Inc. (36%) ($40-$50 million) and WhiteFence, Inc. (36%) ($10-$20 million).

Result of the second information is the following sharing of the 29.006 million:

Channelintelligence = 6.2 million

Freeborders = 7.0 million

Starcite = 11.5 million

Whitefence = 4.3 million

The estimates for the revenues bases on this information and about former informations about the growth of Starcite, which is now positive again after somer quarters of stagnation and small decreases.

1. quarter 2011 = 11.5 million

2. quarter 2011 = 11.7 million

3. quarter 2011 = 11.9 million

4. quarter 2011 = 12.1 million

That are together 47.2 million revenues in 2011 for Starcite.

And that are proportional revenues of 17.0 for Internet Capital, because Internet Capital owning 36% of Starcite.


Schätzung anteiliger Umsätze - Whitefence

Revenues of the four Core Equity Companies Channelintelligence, Starcite, Freeborder and Whitefence increased from 27.001 million in the first quarter of 2010 to 29.006 million in the first quarter 2011.

Additional we have the following information about revenues-ranges in 2010: Our Core Equity Companies (including ownership % and 2010 revenue range in parentheses) consist of: Channel Intelligence, Inc. (50%) ($20-$30 million), Freeborders, Inc. (31%) ($20-$30 million), StarCite, Inc. (36%) ($40-$50 million) and WhiteFence, Inc. (36%) ($10-$20 million).

Result of the second information is the following sharing of the 29.006 million:

Channelintelligence = 6.2 million

Freeborders = 7.0 million

Starcite = 11.5 million

Whitefence = 4.3 million

The estimates for the revenues bases on this information and about former informations about the growth of Whitefence which is now positive again after somer quarters of stagnation and small decreases.

1. quarter 2011 = 4.3 million

2. quarter 2011 = 4.4 million

3. quarter 2011 = 4.5 million

4. quarter 2011 = 4.6 million

That are together 17.8 million revenues in 2011 for Whitefence - a very conserative projection.

And that are proportional revenues of 6.4 million for Internet Capital, because Internet Capital owning 36% of Whitefence.  

http://www.freeborders.com/...-100-list-for-the-4th-consecutive-year/  

Unternehmen:

Estimates for the three venture-companies  Seapass, Clickequations and Acquirgy is very difficult, because in opposite to seven core-companies exist no revenue-numbers in the reporting of Internet Capital - but we know the numbers of employess.

Biggest company is Seapass with about 100 employess. Comparable companies in the software-sector has revenues between 10 and 20 million. I will take a conserative estimae of revenues of 10 million in 2010.

That are proportional revenues of 2.6 million from Seapass for Internet Capital, because Internet Capital owning 26% of Seapass.


Smallest company is Clickequations with about 40 employess. Comparable companies in the software-sector has revenues between 5 and 10 million. I will take a conserative estimae of revenues of 5 million in 2010.

That are proportional revenues of 1.7 million from Clickequations, because Internet Capital owning 33% of Clickequations.

Acquirgy has about 50 employess. Comparable companies in the sector has revenues between 10 and 20 million. I will take a conserative estimae of revenues of 6 million in 2010.

That are proportional revenues of 1.5 million from Acquirgy, because Internet Capital owning 25% of Acquirgy.  

http://www.bizjournals.com/philadelphia/blog/...of-year.html?page=all  

wenn ich mir diesen Schrott im Langfristchart betrachte ist diese Aktie das beste Beispiel für eine sichere Geldvernichtung. Dieser Wert wird nie wieder,auch nur annähernd, seinen Einstandskurs sehen.

Ich empfehle aus dem Nasdaq folgende Qualitäts-Werte, die im Langfristvergleich (10-15 Jahre) zwischen 400 und 900% performed hatten.

CTXS Citrix

VRTX Vertex

GILD Gilead

lediglich bei der Aktie von EMC Corp. liege ich bei Plus minus Null.

 

Anmerkung: wie verzweifelt muss libuda sein, dass er über Jahre dieses POS (piece of shit) anpreist.

 

dürfte Libuda verbilligen bis er Ende 2001  aufgab, seitdem ist er am pushen, hehehehehehehe.......trotz einiger Nachkäufe ab 2004 unter 5 $ liegt  er noch fett im minus.