CMGI, Merge

Share this content:
CMGI Inc., Andover, MA, yesterday bought, Chicago, in a stock-for-stock merger valued at approximately $407 million. operates an online auction marketplace offering brand-name products to both consumers and businesses. The company allows consumers to set their own prices on popular products at significant discounts. The merger's closing is planed for May following shareholder and regulatory approval.

CMGI controls more than 60 Internet companies around the world. It plans to accelerate uBid's traffic growth and revenue streams by maximizing synergies with existing network properties such as, iCast, and Alta Vista.

"Online auctions, both B2C and B2B, are one of the fastest-growing areas of the Internet, and has distinguished itself in the market with highly differentiated merchandising and inventory management capabilities that will prove hugely valuable as this model scales for the future," said David Wetherell, chairman/CEO, CMGI.

"We believe there's tremendous opportunity in applying these techniques to CMGI's existing e-commerce companies and in building aggressively to extend these technologies into the emerging BTB marketplace through licensing and other channels," he said.

Next Article in Marketing Strategy

Sign up to our newsletters

Company of the Week

Since 1985, Melissa has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above