Verticalnet, Inc. was a host of 43 business-to-business (B2B) procurement portals headquartered in Horsham, Pennsylvania.
[2] It was famous for its market capitalization of $10.89 billion on March 10, 2000, during the dot-com bubble,[3] despite sales of only $112.5 million in 2000.
[2] In 1997, Mark Walsh joined the company as its chief executive officer.
At that time, Internet Capital Group, now Actua Corporation, owned 28% of the company and founders Michael McNulty and Michael Hagan were each worth $60 million on paper.
[9] In 2002, VerticalNet sold its Small and Medium Business Group to Corry Publishing, now Jameson Publishing, for a cash up-front payment of $2.35 million and a four-year performance-based earn-out of $6.5 million, as well as the assumption of certain liabilities.