New Net Worth
Net.Capitol Inc. of Washington, founded in 1996, has become the latest local company to agree to sell itself in a multimillion-dollar deal. The buyer is Netivation.com Inc. of Post Falls, Idaho, which creates political and medical "portals," or gathering points, on the Web.
Terms were not disclosed. But Oron Strauss, chief executive of Net.Capitol, which creates software for political groups, told The Washington Post in June that he soon expected a purchase for $12 million to $15 million.
Strauss, 26, is the majority shareholder, with a 42 percent stake in the company.
The Net.Capitol division of Netivation will remain in Washington and he'll stay on as chief executive, Strauss said.
Doing Their Bidding
Here comes a made-for-Washington variation on the give-free-information-with-ads business model.
GovCon Inc. of Rockville, which specializes in electronically delivering information to the government contracting community, has launched BidRadar, a daily e-mail service that alerts people to federal projects that they might bid for.
The service is free, but supported by advertising. Users choose from 100 business categories, such as computers or telecommunications, to narrow the e-mails sent to them each day.
GovCon (www.govcon.com) plans to add state and local contracts to the service later this year.