By: Karim Mostafa
Companies Also Considers Web IPO
Dow Jones & Co. and Excite@Home are combining two of their Web sites to
create a new company and business portal, Work.com.
Replacing the existing Dowjones.com site, Work.com will launch as a
business portal to provide services to medium- and small-sized
businesses. Dowjones.com was established as a portal for small business
owners last June, while Excite@Home created Work.com as a business-to-
business site in September.
Dowjones.com never attracted a large audience, says Gordon Crovitz,
senior vice president, electronic publishing. After Work.com is
relaunched, the dowjones.com URL will eventually become a portal to all
Dow Jones online properties.
Based in Redwood City, Calif., Work.com will be jointly owned by the
two companies until its initial public offering later this year.
Scheduled to launch this summer, the site will consist of vertical
industry content, communities, business applications, and customizable
services. Another feature of the site will be co-branded, customized
sites for large distribution partners.
The main idea behind Work.com is to marry Web-based applications from
Excite@Home with content from Dow Jones, the companies said yesterday.
Ezra Palmer, editorial director of dowjones.com, was named editor-in-
chief of Work.com’s New York-based editorial operations.
George Bell, CEO of Excite@Home, has found that ‘People’s loyalty is to
content, not the mechanism of delivery.’ To be successful on the
Internet, you need a combination of branding and trusted sources of
content, he says. He also stresses that the quality of content will
attract the largest possible audience.
Dow Jones & Co. will provide content from Dow Jones Business News,
headlines and selected stories from WSJ.com, and Barron’s Online.
Crovitz says limited content from its subscription-based online
properties, including WSJ.com, would be available to the new site.
CNBC, the cable news operation that shares content with Dow Jones, will
not initially contribute content to the Work.com venture, but Work.com
is seeking content from other publishers.
Dow Jones Internet properties had revenues of $170 million last year,
and Crovitz says the company’s stock does not currently reflect the
value of these properties. As a result, Dow Jones is considering a
tracking stock, like The New York Times Co. recently announced for its
new-media unit, Times Co. Digital.
Excite@Home will provide the technology behind the portal, offering
services such as search, personalization, communities, and chat. After
its September launch, Excite@Home’s Work.com has fourth quarter
revenues between $20 million and $25 million.
Karim Mostafa (email@example.com ) is assistant
editor for Editor & Publisher Online.
WSJ INTERACTIVE TURNS FIRST MONTHLY PROFIT (12/06/99)
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