Investing Internet Technology Windows Internet Tech. By Gavin McCormick I-Many Inc. of Portland, Maine, has been around since 1982, selling software and other services to help large businesses, including pharmaceutical firms, manage sales contracts and promotions. Over the last year it has shifted its business model to become an Internet exchange targeted at health care companies. I-Many in February unveiled its website to help health organizations buy and sell products online and, just a month later, filed for an initial public offering.
Manufacturers pay a fee to post wares on the site, and buyers can search for the best deals.
The company said it plans to roll out exchanges for other industries in the future. And as with other B2B platforms that have attracted backers, the company is tackling a sizable market. As it has shifted business models, I-Many's finances have moved into the red. And the company acknowledges that it's in a volatile market with an unproven model. Also, plenty of companies are developing B2B exchanges in multiple industries and will target health care.