Exclusive Interview with ICGE's Walter Buckley - Page 3

op 50 B2B markets. The top 50 B2B markets make up 75-80% of the $1.3 trillion market opportunity. It is very unlikely we will be number one in every market; however, we feel as though we have an excellent chance to capture north of 30% of the aggregate market.

Reporter@Large: Wow, investors will certainly be interested to hear that. So what has investors a buzz about B2B?

Buckley: You know, the logic of B2B e-commerce is undeniable and investors are beginning to realize just how dramatically the Internet will change traditional business methods by offering expanded access to new and existing customers and suppliers, (traditional businesses can leverage the Internet to obtain real-time, accurate information regarding requirements, prices and products to a global audience).

This makes it easier for businesses to attract new customers and suppliers, improve service and increase revenue, (businesses can utilize the Internet to automate their internal operations, including manufacturing, finance, sales and purchasing functions. This increases operational efficiency by reducing the time, costs and resources required to transact business, lowering inventory levels and procurement costs, and improving responsiveness to customers and suppliers).

Reporter@Large: Is the basket approach the winner for Internet investors?

Buckley: I think investors appreciate that the holding company model's the most effective way to garner significant market share in a fragmented market through supporting each of our partner companies respective market position in each of their markets. It's really similar to the physisal world where GE, Honeywell and Mitsuibishi aggregate B2B market opportunities through their respective companies.

Final thoughts from Reporter@Large

Buckley has made a persuasive case. Internet Capital Group presents an exceptional opportunity. Reasons? 1. It's in a hot market. The holding company is focused exclusively on business-to-business e-commerce. 2. It's safer than going it alone. A built-in basket approach , similar to a mutual fund, allows investors to diversify their risk. 3. You might get in on the ground floor. Public-market investors are effectively able to invest in companies at private-market valuations.

Next week Reporter@Large will be entering the world of portals. As always, there will be informative insight and "happy hour" where we talk to leading executives in the sector.

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