FRAMINGHAM (01/28/2000) - Netmosphere Inc.
Location: 2225 E. Bayshore Road, Suite 100A, Palo Alto, Calif. 94303Telephone: (650) 855-0430Web: www.netmosphere.comNiche: Netmosphere makes browser-based project management and collaboration software that eliminates geographical and organizational boundaries.
Why it's worth watching: Netmosphere software gives project management an Internet architecture, which can lower administration costs and hassles. It can also be used for internal projects.
Company officer: Kevin Nickels, co-founder, president and CEOCompany goal: At $25 million in annual revenue, the firm will consider an initial public offering.
- Feb. 1996: Company is founded
- April 1997: ActionPlan is launched
- June 1998: Project Home Page is launchedEmployees: 35; growing at a rate of 33% per yearProfitability date: 1997Burn money: Menlo Ventures, Charter Ventures and private individualsCustomers: @Home Corp., J.Walter Thompson Co., Bank of America Corp., FMR Corp.
Partners: Apple Computer Inc., Cisco Systems Inc., Microsoft Corp., Sun Microsystems Inc.
Red flags for IT:
- Big dogs are nipping at Netmosphere's heels. The biggest, Microsoft Project 2000, could give Project Home Page a severe bite. And established project management vendors like ABT Corp. and Primavera Systems Inc. are moving into Netmosphere's Web niche.
- Analysts say the company needs to do a better job of marketing and finding business partners.