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July 04, 2009

 

Verticalnet Rumors Circulating

Posted At : September 29, 2006 10:54 AM
Related Categories: Spend Management
I've heard from multiple sources that Verticalnet will announce some financial, non-product news next week. Possible re-cap. Possible sale. These are just rumblings at this point, but I've heard about them from enough sources that I'd wager that something is probably up. Regardless of what happens, I hope that the product and services suite survives either independently or as part of another organization. Despite the negative comments that I know that this post will generate regarding Verticalnet's management team -- at least some things in life are predictable -- I will again go on the record saying that Verticalnet's solutions have historically delivered significant value to their customers. And besides, I still credit the former marketplace company with providing the venue and serving the booze the night I met my wife during the .com heyday.

- Jason Busch

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According to their conf call from this quarter they were having their best qtr of activity from a sales perspective. Their last 2 finance deals certainly put them behind the 8 ball, although they claimed they would be able to rework these. They have been burning about 2 million per qtr in cash so eventually they needed to be able to become profitable.

I hope the news is on the sales side, vert investors have been hammered by the pps decline.
# Posted By vert watcher | 9/29/06 11:31 AM
Typically a stocks pps will go up on sale rumors, vert was off another 4-5 % today...interesting
# Posted By vert investor | 9/29/06 11:41 AM
Verticalnets annual conference is in October, one would assume this factors into the timing
# Posted By anon | 9/30/06 9:10 AM
Vert has taken another beating this week. No news yet as predicted by Jason last week. Market cap now hovers below 5 million, perhaps where verts revenues will be this quarter...

Needless to say this does not bode well heading into their conf next week.
# Posted By where is verts bod | 10/6/06 8:16 AM
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