Triangle Dot-Coms Continue To Surf Their Way To Success
Posted May 8, 2001
RALEIGH — Large and small Internet companies are hurting, but for some Triangle dot-coms, the future looks bright.
People at the two-day Upside Southeast Technology conference networked and heard a lot about networked enterprises. There was a dire prediction for e-commerce companies that are not leading the market and making money.
"I think hundreds and hundreds of these companies will go out of business in the coming year," says Thomas Siebel, chairman of Siebel Systems.
New products come along, but Siebel says established e-commerce companies that are doing business the right way can survive.
"Companies that have leading market share positions, companies that have high levels of customer satisfaction will consolidate their positions and become stronger companies," he says.
Companies likeAllwall in Raleigh are simple businesses. They sell millions of posters and fine art prints online.
"We are essentially an e-commerce dot-com. We sell products over the Internet. The Internet is our catalog," says co-founder Joshua Chodniewicz.
Allwall succeeds by not spending big money on advertising schemes.
"They're these elaborate schemes from these big portals that look great, but 99 out of 100 times, we're saying no," Chodniewicz says.
Allwall has been profitable for 10 months and hopes to grow using their profits. The company is looking for additional money and since it is making money, it will likely get it.
After its planned move this fall, Allwall expects to add up to 100 new employees.