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CommerceNet

 
Hoover's Profile: CommerceNet
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Contact Information
CommerceNet
169 University Ave.
Palo Alto, CA 94301
CA Tel. 650-289-4040
Fax 650-289-4041

Type: Private - Association
On the web: http://www.commerce.net
 Employees: 15

Where others see "pie in the sky" CommerceNet sees dollar signs. The tech incubator provides seed money and takes stakes in companies that often are just a glimmer in their founders' eyes. It helps its target companies fund their ideas, collaborate with other Internet companies, and in general advance the commercial aspects of the Internet. The organization operates the Open Network for Commerce Exchange (ONCE), a business-to-business trading community. Funded companies include Webify Solutions (health care provider software) and SupplyFrame (supply chain software). Internet pioneer Jay M. "Marty" Tenenbaum founded the lab/incubator/VC firm hybrid in 1994.

Key numbers for fiscal year ending December, 2008:
Sales: $1.2M

Officers:
Chairman: Jay M. (Marty) Tenenbaum
Executive Director and Director: Allan Schiffman
Director Operations: Anne Ferris

Competitors:
Austin Ventures
Idealab
Zynergy

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Wikipedia: CommerceNet
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CommerceNet is a 501(c)6 organization established in 1994 to promote electronic commerce on the Internet. The organisation initially focused on industry-wide research and programs that have advanced the commercial use of the Internet.

Contents

History

CommerceNet pioneered some of the Internet industry's first milestones including secure transactions and XML messaging. The Silicon Valley-based coalition was backed earlier by companies like Apple Computer and Sun Microsystems, had set up an Internet shopping center allowing individuals and businesses to offer their wares and services via CommerceNet's easy-to-use software. The shopping service uses licensed security technology to protect credit card numbers from electronic theft. It got $6 million in TRP funding (Technology Reinvestment Project) from the federal government (US).[1]

The organisation was founded by Internet commerce pioneer Marty Tenenbaum. CommerceNet embarked on global studies including a controversial study released by CommerceNet and Nielsen Media Research. The study in 1998 found that the rapid increase of Internet users age 16 and older rose 16 percent in North America in nine months, and the number of online consumers jumped 40 percent over the same period.[2][3]

In Asia, CommerceNet was active in five major regions: CommerceNet China (Hong Kong), CommerceNet Japan, CommerceNet Korea, CommerceNet Singapore and CommerceNet Taiwan. CommerceNet Asia was credited to coordinate and published the first Pan-Asian E-Commerce Survey across national boundaries in 1999. The Survey Report was translated into Japanese, Korean and Chinese.

Selected historic milestones

  • 1994: Founded. First public demonstration of an encrypted credit-card transaction in a web browser.
  • 1998: Founded CommerceNet Singapore.
  • 2004: Rohit Khare was promoted to Director of CommerceNet.
  • 2005: CommerceNet helped co-found the microformats community site.[4]

See also

External links

Notes

  1. ^ "UNCLE SAM FUNDS MR. WIZARD". Fortune. May 16, 1994. http://money.cnn.com/magazines/fortune/fortune_archive/1994/05/16/79322/index.htm. Retrieved on 2008-10-19. 
  2. ^ "Techs ignore Compaq warning". CNN. June 17, 1999. http://money.cnn.com/1999/06/17/markets/techwrap/. Retrieved on 2008-10-19. 
  3. ^ "Online buying takes off". CNN Money. Oct 9, 1998. http://money.cnn.com/1998/10/09/bizbuzz/online_purchases/. Retrieved on 2008-10-19. 
  4. ^ microformats.org
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