IRVINE, Calif., March 27, 2000 (PRIMEZONE) -- Interactive Business Channel is pleased to announce that it has signed an agreement with Financial Performance Corporation (OTCBB:FPCX) pursuant to which it will feature FPCX's company profile on IBC's web site www.ibchannel.com.
Matthew Marcus, CEO of IBC, stated "We are extremely excited about the growth prospects of Financial Performance and look forward to featuring the company at the ground floor level on our portal. Financial Performance's unique Internet business to business strategy is based on the successful business incubation model of being a hybrid between a corporate parent and a venture capital firm, along the lines of CMGI, Inc. (Nasdaq:CMGI), Softbank Corp., Internet Capital Group Inc. (Nasdaq:ICGE) and Safeguard Scientific (NYSE:SFE)."
Mr. Marcus continued "While FPCX is trading at a market cap of around $100 million, the market caps of CMGI, Softbank, Internet Capital Group and Safeguard Scientific are trading at $10 to $35 Billion. Currently trading around $11, if Financial Performance were to grow to just 10% of Safeguard's market cap it would trade at approximately the $100 plus range. The explosive growth of Financial Performance's industry definitely affords the growth opportunity; Forrestor Research Inc, believes total B2B E-commerce revenues should grow from $109.3 Billion in 1999 to $499 Billion in 2001."
About Financial Performance
FPCX plans to serve as an incubator, providing worthy emerging companies with venture capital and management expertise. According to FCPX, the recent acquisition of iMapData.com (www.imapdata.com) represents the first of several equity transactions that FPC is hoping to conclude in coming months in the Internet business-to-business market.
iMapData.com is a provider of next-generation online data-base solutions in the exploding data mining business. It overlays customized data-base information to a proprietary web site where the information is displayed in a digital map picture format. These proprietary data- base pictures help companies instantly view and correlate specified relevant factors within their designated marketplace, all in real time. iMapData updates this internet delivered information in real time.
The databases of iMapData cover more than 1,000 industries. Its clients include major manufacturing and consumer product companies, telecommunications firms, media companies, sports business companies ,government organizations and advertising firms.
About IBC
IBC (www.ibchannel.com) is the premier business and finance portal providing investors with a one stop destination for business and financial information including free news, quotes, charts, commentary from top analysts and online corporate profiles and research. Interactive Business Channel Inc. develops and invests in new technology companies and new technology incubators. Its portfolio companies include Medcom USA, Usurf America, Xpedian Inc. and most recently Financial Performance Corp. IBC may have equity positions in the companies mentioned herein please visit www.ibchannel.com/disclaimer .