After a string of months highlighted with huge capital investments, and a number of acquisitions, Go2Net, Inc. is putting the pieces of the jigsaw puzzle together for all to see.
The network of branded technology and community-driven sites announced Thursday that it signed a licensing agreement with e-commerce hosting solutions provider Intershop. The agreement will bring upgraded solutions to 375,000 members small and medium-sized business members of its HyperMart and Virtual Avenue Web sites, the company said.
Go2Net tied up its recent acquisition portfolio with a neat ribbon Thursday, laying out the framework for a symbiotic relationship between five of its Web properties.
HyperMart and VirtualAvenue will both benefit from last week’s $90 million (US$) acquisition of payment authorization company, Authorize.Net and Wednesday’s $20 million investment in e-mail services provider CommTouch Software, Ltd., the company said. Auction site Haggle Online will also complement the mix.
“Adding Intershop’s e-commerce technologies to the services currently offered through HyperMart and VirtualAvenue, Authorize.Net’s transaction processing services and the Haggle Online auction services creates a leading end-to-end commerce solution for small and medium-size businesses,” said Go2Net CEO, Russell Horowitz.
Start Small and Add On
Seattle-based Go2Net said that over 1,000 new member businesses are signing up for the services on HyperMart and VirtualAvenue every day. HyperMart hosts 240,000 businesses, displaying everything from wooden shoes to brass flutes.
The company says that a recent survey of HyperMart members revealed that 70 percent of respondents wanted to sell their goods or services over the Internet. That would explain the company’s agreement with Intershop — which is intended to provide individuals and businesses with user-friendly e-commerce solutions.
Their approach is simple: Start out with the basics and add on as the business grows online. Sound advice for any business and a model that Go2Net has taken to heart.
The company has added-on in a big way since Microsoft co-founder Paul Allen and his Vulcan Ventures group bought $425 million in Go2Net stock in recent months. Thursday’s announcement reveals a company with a definite strategy in mind — and the bank balance to back it.