Steven Sponder, President and CEO, who teamed with Microsoft back in 1994 announced Tuesday the launch of BizProLink.com; A Business to Business internet navigation portal.
Similar to portals such as Yahoo and Lycos that deal mainly with real and consumer services, BizProLink acts as a daily Internet Start Page which links business professionals to the resources they need in a single site.
The firm projects it will become a $365 million business within five years.
Revenues for BizProLink are generated from advertising, e-commerce, sponsorship, global brand licensing, web hosting and other avenues.
“While much of the Internet buzz so far has focused on companies that have been successful selling to consumers, the real money will come from Business-to-Business commerce,” said Larry Ellison, chairman and CEO of Oracle Corporation in a press statement.
“While Yahoo and Lycos have established themselves as leading providers of Consumer Portals, there currently is no domination portal designed specifically to meet the needs of business,” Sponder said.
Sponder said the firm is entertaining investment offers so that it can expand its global marketing reach. The firm plans to increase its staff to more than 30 employees by the end of 1999. According to a study by International Data Corp., Internet Business-to-Business sales are expected to reach $330 billion by 2002, up from $21 billion this year.