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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 24, 2000
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Chemdex Corporation
(Exact name of registrant as specified in its charter)
0-26811
(Commission File Number)
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<S> <C>
Delaware 77-0465496
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation)
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1500 Plymouth Street, Mountain View, CA 94043
(Address of principal executive offices, with zip code)
(650) 567-8900
(Registrant's telephone number, including area code)
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Item 5. Other Events.
(a) On January 24, 2000, Chemdex and DuPont announced the formation of a new
company, Industria Solutions, Inc., that will provide business-to-business e-
commerce solutions to the fluid processing market. Further details are set
forth in the press release attached hereto as Exhibit 99.1.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits.
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<C> <S>
99.1 Press release dated January 24, 2000, announcing Chemdex and DuPont's
formation of Industria Solutions, Inc.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CHEMDEX CORPORATION
By: /s/ James G. Stewart
__________________________________
James G. Stewart
Chief Financial Officer
Date: January 25, 2000
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EXHIBIT 99.1
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FOR ADDITIONAL INFORMATION:
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For Chemdex Media Inquiries: For DuPont Media Inquiries:
Brett Weiner Kiko Suarez
Schwartz Communications DuPont
415/512-0770 302/774-0054
[email protected] [email protected]
Susan Kinkead
Chemdex Corporation
650/567-8949
[email protected]
For Chemdex Investor Inquiries:
James Stewart
Chemdex Corporation
650/567-7500
[email protected]
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DUPONT AND CHEMDEX FORM INDUSTRIA SOLUTIONS, INC.
TO CREATE B2B VERTICAL MARKETPLACE FOR
$75 BILLION GLOBAL INDUSTRY
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New E-Commerce Company to Streamline Procurement of Supplies
For Fluid Processing Market
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Leading Industry Players to Participate in Industria
Wilmington, Del. and Mountain View, Calif.,--January 24, 2000--DuPont
(NYSE:DD) and Chemdex Corporation (NASDAQ:CMDX) today announced the formation
of Industria Solutions, Inc., a new business-to-business (B2B) e-commerce
company that will streamline the procurement of materials for the $75 billion
worldwide fluid processing market.
The fluid processing market includes companies from a broad range of
industries, such as chemical, oil and gas, pulp and paper, power generation and
pharmaceuticals. Products that are used in this vertical market are complex and
technical in nature, such as pipes, valves, pumps, motors, compressors, and
other materials and equipment required for processing fluids for industrial
use.
Industria will leverage the assets and expertise of its founding companies
to address supply chain inefficiencies in this market. Chemdex brings to the
new company its scalable e-commerce technology and expertise in building and
operating vertical marketplaces. DuPont, one of the largest purchasers of
maintenance and engineering materials in the U.S., will contribute substantial
buying power to Industria by shifting procurement of these materials to
Industria over time.
The company will receive initial cash funding of $30 million, including $10
million from @Ventures, the venture capital affiliate of CMGI, Inc.
(NASDAQ:CMGI), as well as financial investments from Chemdex, DuPont and other
strategic investors. @Ventures has committed to making the investment in
Industria from the new $1 billion @Ventures B2B fund. Industria will offer
additional attractive equity investment opportunities to major industry buyers
and suppliers to quickly bring further value to the marketplace.
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IBM (NYSE: IBM) Global Services intends to enter into a strategic
relationship with Industria to provide implementation, integration and e-
commerce services to the new company's customers and suppliers. Ariba
(NASDAQ:ARBA) will provide enabling software technology to Industria.
Industria is an independent entity, with its own management team and board
of directors. Chemdex President and CEO David Perry, DuPont Executive Vice
President and Chief Operating Officer Dennis Reilley, and Jon Callaghan,
general partner with CMGI's @Ventures, have joined Industria's board of
directors. "Industria has enormous momentum. We have, and continue to build, a
talented and seasoned management team from leading Fortune 500 companies," said
Dean Dorman, interim CEO of Industria. "Industria employees are currently
developing an initial version of Industria's B2B e-commerce solution at our
Mountain View, California headquarters."
Using Industria's e-commerce solution, fluid processing plants will be able
to buy materials more efficiently through a single Internet marketplace. These
materials are highly technical and require detailed product information in
order for buyers to make informed purchasing decisions. The industry is highly
fragmented, with over 2,000 manufacturers selling to over 1,000 customers in
the U.S. alone.
"The formation of Industria further validates Chemdex's pioneering role in
creating the B2B vertical marketplace business model," said Jon Callaghan of
@Ventures. "As a founding backer of Chemdex, @Ventures is pleased to extend its
strategic relationship with Chemdex by becoming Industria's founding venture
capital partner through the @Ventures B2B fund. We are confident that Industria
will rapidly lead this new marketplace with the endorsement and participation
of industry leaders such as DuPont."
Based on the combination of Chemdex's B2B e-commerce technology and
marketplace platform and DuPont's extensive industry knowledge and value chain
experience, Industria will deliver substantial value to manufacturers,
distributors and customers through advanced electronic procurement tools like
real-time pricing, electronic requests-for-quotations (RFQs), auctions and
reverse auctions.
Customers who buy through Industria will be able to access a broader, more
competitive supply base with lower product prices, as well as benefit from
increased efficiency in the procurement process. Manufacturers will benefit
from reduced marketing and selling costs, wider customer reach with greater
visibility, improved inventory management and access to valuable information
about buying trends. Distributors will have exposure to a broader, more
competitive supply base, lower sales and marketing costs through increased
efficiency, and access to new customers.
Industria offers DuPont the opportunity to shape a new Internet marketplace,
work with a strongly branded B2B technology company with vertical market
expertise and broaden its growing e-commerce platform.
"Industria validates our overall e-commerce strategy to quickly promote and
adopt e-business solutions," said Erik Fyrwald, vice president, DuPont e-
Commerce and business development. "By creating an open and neutral Internet
marketplace, Industria will improve efficiency in the supply chain for DuPont
and our suppliers, as well as for all buyers and suppliers of these products.
With the support of DuPont and Chemdex, Industria is well-positioned to rapidly
achieve a large market share of the maintenance and engineering materials used
in the fluid processing industries."
For Chemdex, Industria offers the opportunity to partner with a respected
global enterprise to launch another e-commerce venture in support of the
company's multiple vertical strategy. Industria represents Chemdex's entrance
into a fourth distinct vertical market, in addition to life sciences, specialty
medical products, and high-volume hospital supplies.
"Industria addresses a fragmented market that is primed for a Chemdex-like
solution, creating tremendous value for all participants," said David Perry,
president and CEO of Chemdex. "The company has been created with a fully-
realized business model, proven technology, and partners with the knowledge and
experience to quickly move the fluid processing materials supply chain online.
Chemdex's marketplace platform, experienced IT staff and expertise in
developing industry-specific B2B e-commerce solutions will help reduce
Industria's time-to-market from years to months."
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"This new marketplace is a strong showcase for our e-commerce business
solutions," said Steven Kagan, vice president, IBM Global Services. "IBM's
participation in Industria as a provider of implementation and integration
services signals our overall commitment to helping customers leverage their
current investments in technology and applications while using new Internet-
based services to create a more efficient supply chain."
"We are looking forward to expanding our strategic relationship with
Chemdex, an industry leader in creating and operating B2B vertical
marketplaces," said Keith Krach, chairman and CEO of Ariba. "This is a great
opportunity for DuPont to launch a new e-commerce venture with Chemdex that
leverages both companies' existing relationships with Ariba. Industria will
utilize Tradex software, a future part of the Ariba platform, which will
dovetail with DuPont's recently announced global rollout of the Ariba B2B e-
commerce infrastructure."
Financial details of the agreement were not disclosed.
About Chemdex
Chemdex Corporation is a leading provider of business-to-business (B2B) e-
commerce solutions for industry-specific marketplaces, including life sciences,
high-volume hospital supplies and specialty medical products. As a market
maker, Chemdex unites suppliers, buyers and enterprises to streamline business
processes, enhance productivity and reduce costs. Chemdex provides complete e-
commerce solutions consisting of extensive online marketplaces, electronic
procurement to support business workflow and controls, systems integration to
interface with third-party and back-office systems, and comprehensive services
and support. For more information, visit Chemdex at www.chemdex.com.
About DuPont
DuPont is a science company, delivering science-based solutions that make a
difference in people's lives in food and nutrition; health care; apparel; home
and construction; electronics; and transportation. Founded in 1802, the company
operates in 65 countries and has 97,000 employees. For more information, visit
DuPont at www.dupont.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act
of 1995: Statements in this press release regarding Chemdex's business which
are not historical facts are "forward-looking statements" that involve risks
and uncertainties. These potential risks and uncertainties could cause actual
results to differ from those contained in the forward-looking statements and
include, without limitation, Chemdex's ability to prove its business model and
gain operating efficiencies, the effects of government regulation, and its
dependence on a limited number of enterprise customers and our relationship
with VWR. These and other risk factors are described in detail in the company's
Registration Statement on Form S-1, and in the company's other filings with the
Securities and Exchange Commission.
Forward-Looking Statements: This news release contains forward-looking
statements based on DuPont management's current expectations, estimates and
projections. All statements that address expectations or projections about the
future, including statements about the company's strategy for growth, product
development, market position, expected expenditures and financial results are
forward-looking statements. Some of the forward-looking statements may be
identified by words like "expects," "anticipates," "plans," "intends,"
"projects," "indicates," and similar expressions. These statements are not
guarantees of future performance and involve a number of risks, uncertainties
and assumptions. Many factors, including those discussed more fully elsewhere
in this release and in DuPont's filings with the Securities and Exchange
Commission, particularly its latest annual report on Form 10-K, as well as
others, could cause results to differ materially from those stated. These
factors include, but are not limited to changes in the laws, regulations,
policies and economic conditions of countries in which the company does
business; competitive pressures; successful integration of structural changes,
including acquisitions, divestitures and alliances; failure of the company or
related third parties to become Year 2000 capable; research and development of
new products, including regulatory approval and market acceptance, seasonality
of sales in its Agriculture & Nutrition segment.
