Internet incubators coming to life

CMGI Inc (NASDAQ: CMGI), one of the purest Internet plays from the 1990s, was mentioned in Barron's this weekend as a stock worth looking at again.

The other pure-play Internet incubator has also come back to life -- Internet Capital Group Inc (NASDAQ: ICGE). This stock was also a must-own incubator stock during the 1990s that followed CMGI's path and fell on hard times.

Internet Capital has a bunch of successful businesses, having sold or taken public a few for big profits, believe it or not.

Currently, Internet Capital has a number of businesses that might be ripe for being taking public. StarCite, an on-demand global meetings management company, recently merged with OnVantage, which should allow it to improve revenue growth and profitability.

Internet Capital also owns a majority interest in ICG Commerce, a procurement services business, which has had some big wins getting Kimberly-Clark as a customer along with contract wins with Microsoft, Alcan and other multinational companies.

Therefore, do not only look at CMGI, also give Internet Capital Group a look.