When the stock prices of profitless Internet companies tanked this spring, PurchasePro was among the hardest hit. It lost 85 percent of its value in 33 days. By splitting the stock, Johnson is betting the gloomy days are gone. Johnson said in a release issued yesterday. More than 25,000 businesses are on board so far.
Analysts expect that number to jump dramatically in coming months.
The next generation of PurchasePro software, co-developed by America Online, is expected to launch in the first quarter of next year, said Keith Jensen, PurchasePro's director of investor relations. AOL will also peddle the revamped and simplified PurchasePro software to its own 3 million small business users. Johnson has said he is confident his company's stock will soon rise to its former heights. E-mail this story to a friend. Kentucky Connect and may not be republished without permission.