Marketplaces to make profit 'by end of 2001'

1 March 2001
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01 March 2001 | Geraint John

Some electronic marketplaces will make a profit by the end of this year, a leading figure in the e-commerce world has predicted.

Mark Hoffman, chairman and chief executive of e-marketplace developer Commerce One, said that while transactions through its 60 or so operational marketplaces were still low, "substantial volumes" by the end of 2001 would fuel profits for some.

Hoffman, who was speaking at his company's eLink conference in Berlin, would not say which marketplaces were likely to make it into the black. But speaking later to SM, he pointed towards retail, oil and gas, automotive and aerospace - sectors in which Commerce One has a strong presence.

Hoffman said that Covisint, the automotive marketplace founded by Ford, General Motors and DaimlerChrysler, could be "profitable, or close to, this year".

Covisint claims to have 40 suppliers and 285 catalogues online and to have conducted 325 reverse auctions worth more than £1 billion.


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