Word: verticalnet
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Dates: during 1999-1999
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...Rotisserie League, have crash-coursed the whole 1999 new-stock lineup. We make our mistakes with phony money and save the real deal for the portfolio. Our draft may have lacked the tension of the NFL's live ESPN version, but it turned up such gems as VerticalNet, VeriSign, Commerce One and Ariba, companies that until I had to lay out 750 Gs of Rotisserie money, I couldn't do much more than ogle from afar. And in the B2B league there's no team I have to lose money on every week, as I do with the Eagles...
...better way to do business. Efficiency may not sound all that attractive to them. On the flip side, B2B companies are businesses like any other. Many will go under in the postboom shakeout that will inevitably take place. Says Mark Walsh, CEO and president of VerticalNet, a creator of 43 online industry-specific trading communities (commonly referred to as verticals): "What you see today are a lot of technology companies or single-focused verticals that are declaring war on the old way of doing business," he says. "Each of these companies claims that it is going to change forever...
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