Log on to blackcyberspace.com.Venture seeks to create world's largest black community in cyberspace At least one BE 100s 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. is looking to the next millennium by logging on to blackcyberspace.com. James C. Smith, CEO of Systems Engineering and Management Associates Inc. (SEMA SEMA Specialty Equipment Market Association SEMA Société d'Encouragement aux Métiers d'Art (Society for the Promotion of Art Trades; France) SEMA Specialty Equipment Manufacturers Association SEMA State Emergency Management Agency ) (No. 80 on the BE INDUSTRIAL/SERVICE 100 list with $27.2 million in sales), has partnered with Black CyberSpace Online Inc. At a cost of $750,000, Smith purchased a 20% equity stake in the Internet service provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. (ISP (1) See in-system programmable. (2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines. ) and has been appointed its new chairman. Along with the Web company's co-founders, President and CEO Anthony M. McCollum, 31, and Senior Vice President and COO Nathaniel R. Causley Jr., 36, the African American African American Multiculture A person having origins in any of the black racial groups of Africa. See Race. ownership in the new ISP is 84%. McCollum and Causley started 4-Sight Entertainment Inc. in 1992. Their Internet directory spin-off offers a portal to a broad variety of ethnic interests, including shopping, bookstores, banking, stock and mortgage services. The site was uploaded in 1996 and attracts 1,500 visitors daily. Looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. investors, McCollum heard about Smith at the 1998 Black Congressional Caucus annual meeting in Washington, D.C., last September. Smith, as it so happens, was in the market for just the right investment opportunity. "To grow, we needed to get into either a merger or strategic alliance," says Smith. Under his wing, Black Cyberspace Online gains office space and administrative help at SEMA headquarters in Alexandria, Virginia. Smith's funding will get the new ISP off the ground, contracting with an Internet backbone provider and financing a $500,000 advertising and promotional ramp to its September 1 launch. At a monthly fee of $17.95, the goal is to begin ISP service with 30,000 subscribers, then sign up 100,000 within a year and up to 1 million in five years. |
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