BroadVision(Nasdaq: BVSN), which supplies companies with e-commerce software and services, is one of those rare Internet companies that’s actually turning a profit. And, in what looks to be a brilliant move, the company is now using some of its money to support online startups. BroadVision announced today that it is setting $10 million (US$) aside to speed up the development for venture-funded new businesses, and the company looks to get a lot in return.
BroadVision isn’t simply handing out money and waiting to see results like many venture capital firms do. It’s forming partnerships with companies that could eventually become major customers that make BroadVision a lot of money. In fact, as an incentive, BroadVision is offering discount rates on its products for startups it deems worthy.
Shares of BroadVision were up 2-15/16 to 60-1/16 in early trading today.