CMGI, also known as CMGI Inc., is an acronym that stands for "Computer Marketing Group, Inc." It was a prominent American company in the late 1990s and early 2000s, primarily operating as a venture capital firm in the technology sector. Founded in 1986 by David Wetherell, CMGI played a crucial role in financing and nurturing various internet startups during the dot-com boom.
In addition to its venture capital activities, CMGI also offered a range of services, including internet consulting, e-business solutions, and supply chain management strategies. It positioned itself as an integrated solution provider for businesses seeking to establish or enhance their digital presence.
CMGI's business model relied heavily on acquiring equity stakes in promising internet companies and providing them with financial support, strategic guidance, and access to its vast network and resources. Some of its most notable investments were in Lycos, GeoCities, and AltaVista.
However, like many companies during the dot-com bubble, CMGI experienced significant financial challenges and declining stock prices following the burst of the tech bubble in the early 2000s. As a result, the company underwent various restructurings and divestments to bring stability to its operations.
Today, the acronym CMGI is no longer widely used, as the company underwent a name change in 2003 to ModusLink Global Solutions Inc., focusing on global supply chain management and e-commerce solutions. Despite its transformation, CMGI remains an influential part of internet history, synonymous with the dot-com era and the rise and fall of numerous internet startups.
