EARLY HISTORY
CMGI began operation in 1968 as the College Marketing Group (CMG). The company's focus was the sale of educational publishing products and, eventually, the mailing lists it had compiled. Software expert Wetherell bought the firm in 1986 and transformed it into a database management business. In 1989, CMG purchased a printing and direct mail company, which it renamed SalesLink.
Wetherell took the firm public in 1994 under the name CMG Information Services Inc.—the firm officially adopted the name CMGI Inc. in 1998—and sold 1.2 million shares. At the time of the initial public offering (IPO), the company had started focusing on investing in and developing Internet-based firms. Its first business venture, entitled Book Link Technologies, was launched with a $900,000 investment. It was one of the first commercial World Wide Web brows-ers that allowed users to search and purchase textbooks. The venture was sold to America Online (AOL) that year for $30 million in stock.
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