To:From:
Subject:
Date
:
SenatorBrunoLenFassler
Joe
Magno
Meeting
with
frank
Poore,
Commerce.net
Technologies
March
23,2000
Yesterday
I
spentsome
time
with
FrankPoore
.
His
company
provides"global
c-cornmerceinfrastructure"to
e-cornmercecompanies.
Tbey
have
developed
transactional
software
thatallows
companies,
such
as
QVC,
to
processand
track
ordersfrommultiple
locations
andsuppliers
searnlessly
with
greaterspeed
andaccuracy.
They
currently
employ
20
peopleand
anticipategrowthto
100
in
the
next
year.
Revenue
is
claimed
to
be
approximately
$3milhon.
It
is
organized
asaC
Corp
withthreeshareholders
,
including
Frank
andLarry
Davis
(ComrnSoftJTechValley
Communications).
Theirlargest
customer
is
QVC
and
they
are
working
ona
number
of
other
largedeals.
Theypresently
do
not
charge
for
software
,butactasan
ASP
and
chargebasedupon
tran
sactions
.
Our
discussion
includedhisbackground.,
how
the
companycame
tobe,
and
his
visionfor
it.
Hehasbeen
in
the
technologybusiness,selling
and
marketing
for
about
15years;
and
isatrueentrepreneur.
Over
thepast
few
months
he
has
beenspeaking
with
VC
's
andInvestmentBankers
to
secure
about$10million
.
He
claims
to
have
some
offers,all
involving
moving
to
CA
or
MA,which
he
says
he
does
not
want
to
do.
Although
hedid
not
share
hisbusinessplanorstrategy
overview
,
histhinking
is
sound
and
thefundshe
claims
would
beusedtobuildinfrastructureandstaff,particularly
executive
staff
AT
&T
ishis
hosting
provider,
however,
he
seems
tobeinteres
ted
in
bringing
thisfunc
tion
In
house
by
build
ing
out
alarger
data
center.Hec
laims
thathis
competitors(Electroniconomy,
Order
Trust,et.al.)do
not
havethe
same
capability,
bur
h
avemoremoney
.Heis
attempting
topatenttheir
business
workflow
model
in
aneffortto
protect
theirintellectualproperty.He
understandsthatwhat
th
ey
have
isa
good
piece
of
the
e-comrnerce
puzzle,
and
knows
that
other
components
,
such
as
warehousemanagement
andlog
isticsare
also
needed
toleveragehisservices,
and
heseemsvery
open
to
symbioticrela
tionships,
including
acquisition.
At
theend
of
ourme
eting
1
suggested
a
follow
up
meeting
to
get
to
know
each
other
better.Ibelieve
that
Len's
meeting
him
would
be
a
good
inve
stment
of
time.Hedid
say
thathe
wanted
to
meetwith
the
Senator
to
discussthe
NFC
building
and
otherpos
sibilities.
GOVERNMENT
EXHIBITGT
-16
Leave a Comment