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The Kelsey Report® Advisory

A Look Inside ImproveNet's Tool Box
Charles Laughlin , 5/10/2000

Issue: Is ImproveNet the Model for a Vertical IYP?

News: E-services site ImproveNet is positioned as an alternative source of job leads for home improvement contractors, many of them tired of the high cost and inefficiency of traditional lead sources, including Yellow Pages. Even though it is a b-to-b dot-com company, its common stock has taken a savage beating on the Nasdaq, spiraling down to less than $5 at the May 8 close, compared with a first-day close of $14.13 on March 16.

Staggering losses are a factor in the stock drop. ImproveNet lost $36.3 million in 1999 and $15.4 million in the first quarter of 2000 alone. Nonetheless, the company is growing its share of revenue from e-services vs. advertising, which suggests its revenue model is moving in the right direction. In the first quarter of 2000, the company took in $782,000 in services revenue and $510,000 in branding (advertising) revenue.

Company President and Chief Executive Officer Ron Cooper recently briefed TKG on his company's progress and how it defines success in the e-services space.

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