'Net Buzz

An unholy union. They are the two unstoppable forces of cyberspace, each singularly capable of reducing normally rational people to madness and incoherence, capable of turning responsible "real-world" citizens into hollow-eyed habitues of chatrooms.

They are Internet initial public offerings (IPO) and spam, and they have joined forces.

In March, a company called Exit23b.com is scheduled to open a Web site selling electronics, CDs, videos, games and stuff.

To celebrate its launch, visitors to www.exit23b.com are told, the company "will be giving away 100,000 shares of our pre-IPO stock, split between 10 lucky winners."

I know this not because a savvy public relations person called me, nor because I stumbled upon the site during another of my aimless strolls through the 'Net - that is, another of my focused missions to find pertinent job-related information in the shortest amount of time.

I know this because I received e-mail from three people telling me "it might be worth your time to put in your entry."

And worth my friends' time, too, according to Exit23b's Web site.

"There is a referral incentive," the site explains. "You will be entered into the drawing once when you first sign up, and then again for every other person you refer."

Thus my e-mail correspondents all urge that, "If you do enter, be sure to put [their e-mail address] as referrer!"

Bottom line: Exit23b.com gets its message spammed all over the Internet, without actually doing the spamming.

Insidiously brilliant.

I, of course, refuse to play this tawdry game. Though if you insist on entering my e-mail address (cnerney@nww.com) as your referrer - that's cnerney@nww.com - I suppose I can't stop you.

Moving money and people. Rick Snyder has ridden a winner before.

As president and chief operating officer of computer manufacturer Gateway, Snyder helped lead the company through a successful IPO in late 1993. After a slow start, Gateway's stock price has risen steadily to about $60 per share, roughly six times its initial value.

But Snyder left Gateway in 1997 to start his own venture capital firm, Avalon Investments. Now his job is to pick winners, and he thinks he's got one with PeopleMover, Inc., a start-up selling enterprise software to the IT services and staffing industries. Avalon has been joined by Dynafund and Windward Ventures in a $5 million round of funding for the Hermosa Beach, Calif., start-up.

Founded last March, PeopleMover is a spinoff from Micro J Systems, a vendor of software for executive search and regional staffing companies. Three months ago, PeopleMover debuted the first of a planned series of Web-based enterprise work force management software products designed to help "free agent" workers and companies looking for short-term contract employees get together.

This is PeopleMover's first official venture round, though last year it received money from an eclectic group of "angel investors," including Tom Fricks, former Norrell Corp. chief information officer, and Jim Caccavo, CEO of Tickets.com, a start-up based in Los Angeles.

Portal rumors. Lycos or Yahoo, Yahoo or Lycos.

In the wake of last week's purchase of No. 2 search/portal vendor Excite by cable ISP @Home Network, Lycos and Yahoo are the only major portals that have not been scooped up by larger companies.

Don't expect that situation to continue, especially considering Lycos has acknowledged engaging in discussions with potential investors.

While Lycos won't mention any names, the word on the street is that Microsoft is interested in buying the company. And the other word on the street is that media behemoth Viacom is casting eyes on Yahoo.

OK, those are my rumors. Where are yours? Don't be shy. Contact Chris Nerney at (508) 820-7451 or cnerney@nww.com.