Pa.-based Internet Capital Group, a holding company for several electronic commerce firms. To understand its business, imagine paying a parking ticket, renewing your driver's license or paying taxes by telephone or online for a fee, instead of standing in line or mailing in a check. The companies that are the most highly capitalized, that can afford to hire a lot of sales people, are the ones that will win. That should carry over with any new venture he's involved in. But then companies started being valued by a multiple of revenues rather than earnings.
Internet companies remain popular with investors even when companies fail to make a profit.
The company plans to grow its staff of 24 to 35 soon, he added. Payments are made by credit card or another electronic method. It has handled 600,000 to 700,000 driver's license renewals. With the merger, G-Link got both a name that better reflects its business and filled key positions on its management team, Roberts said. The company initially was known as Concord Communications.