BuyMedia.com Announces Internet Capital Group's $45 Million Stake.Business Editors/Internet Writers BURLINGAME, Calif.--(BUSINESS WIRE)--Jan. 17, 2000 Online Media Buying Service's Dominant Market Position Attracts Leading B2B e-Commerce (Business to Business Electronic-COMMERCE) Refers to one business selling to another business via the Web. See e-commerce. Holding Company's Attention BuyMedia.com (www.buymedia.com), the first service that lets media buyers purchase premium advertising over the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the , today announced that Internet Capital Group has spent $45 million to acquire a strategic stake in the company. A leading Internet holding company, Internet Capital has targeted 50 vertical industries and is acquiring interest solely in business-to-business (B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business ) e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. companies that display market dominance Market dominance is a measure of the strength of a brand, product, service, or firm, relative to competitive offerings. There is often a geographic element to the competitive landscape. in these sectors. Internet Capital's interest in BuyMedia.com marks the holding company's only foray into Verb 1. foray into - enter someone else's territory and take spoils; "The pirates raided the coastal villages regularly" raid encroach upon, intrude on, obtrude upon, invade - to intrude upon, infringe, encroach on, violate; "This new colleague invades my the media industry. "Media is one of the fastest growing sectors of the economy. Its fragmented frag·ment n. 1. A small part broken off or detached. 2. An incomplete or isolated portion; a bit: overheard fragments of their conversation; extant fragments of an old manuscript. 3. population of advertising buyers and sellers need an efficient and cost-effective cost-effective, n the minimal expenditure of dollars, time, and other elements necessary to achieve the health care result deemed necessary and appropriate. online marketplace that e-commerce can deliver," said Victor Hwang, managing director at Internet Capital Group. "We believe BuyMedia.com's compelling business model, strong presence in the broadcast media, strong management team and momentum make it the leader in the media market segment. BuyMedia.com expands Internet Capital's presence in another multi-billion dollar market and is a very strategic addition to our collaborative network of partner companies." Currently, U.S. advertisers spend more than $60 billion annually on radio and television advertising. Before BuyMedia.com, however, purchasing premium advertising on America's more than 8,000 stations was a complex, expensive and time-intensive process. BuyMedia.com is the first company to leverage the Internet's ease of use, wide reach and round-the-clock availability for media buyers nationwide. More than 2,000 media buyers representing upwards of $10 billion in annual broadcast advertising are already benefiting from BuyMedia.com's television and radio buying services; the site is currently processing more than $1 million per day in broadcast orders. BuyMedia.com plans to use the proceeds of this financing to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. existing markets and identify new opportunities. "We are excited to join Internet Capital's collaborative network of partner companies, having been identified as the premiere player for buying traditional media via the Internet," said Mike Jackson For the P. G. Wodehouse character, see . For other people named Mike Jackson, see . General Sir Michael David "Mike" Jackson, GCB, CBE, DSO, DL, (born 21 March 1944) is a British army officer, formerly Chief of the General Staff. , president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of BuyMedia.com. "Being selected by Internet Capital is a tremendous validator of the strength of this market and our ability to deliver the most efficient, cost-effective and convenient way to purchase premium advertising. As demand for advertising continues to rise, BuyMedia.com is the only company poised to deliver the services that media buyers will rely upon for their media buying needs." About BuyMedia.com BuyMedia.com (www.buymedia.com) provides TV and radio stations with an efficient and cost-effective third sales channel. With BuyMedia.com, stations are contacted by media buyers in more than 900 cities across the U.S. via the Internet. More than 2,000 media buyers use BuyMedia.com to transmit station orders, avail requests and traffic instructions to stations. Using BuyMedia.com, radio and TV stations can dramatically increase both their exposure and ad revenues. Now able to accomplish in minutes what used to take hours, media buyers across the country are quickly adopting BuyMedia.com as a better way to buy broadcast advertising. About Internet Capital Group Internet Capital Group is an Internet holding company actively engaged in business-to-business e-commerce through a network of Partner Companies. It provides operational assistance, capital support, industry expertise and a strategic network of business relationships intended to maximize the long-term market potential of more than 45 business-to-business e-commerce partner companies. Note to Editors: Product and company names may be registered trademarks, service marks or trademarks of their respective owners. |
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