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BtoB

CMGI b-to-b fund invests in NextOffice.com

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Menlo Park, Calif.--The $1 billion CMGI@Ventures B2B Fund, established late last year, announced one of its first major investments, taking part in a $10 million round of financing for NextOffice.com, San Francisco. Set to launch early in 2000, NextOffice.com looks to establish a buying hub for business furniture. The move is significant because the B2B Fund is being closely watched. Focused exclusively on business-to-business, it is expected to invest a large share of its $1 billion in capital by midyear. NextOffice.com said domestic office furniture sales reach about $15 billion annually.
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