Clipper Ventures, better known for its round-the-world yacht races, continues to diversify its operations within the world of sailing. Touted as a 'natural logical progression' by chairman Sir Robin Knox-Johnston, clippertele.com was unveiled at London's Boat Show. The group hopes to offer an internet portal service to the sailing community, including detailed information on the upcoming Times Clipper 2000 race and e-commerce facilities for its newly-launched sportswear range. Grander aspirations include offering a range of voice and data services through mobile phones and to 'develop off-shore and overseas capabilities'. Clipper Ventures will hold a controlling interest, with managing director William Ward (who holds 45.66% of CV) and Knox-Johnston providing seed capital in return for equity stakes. Changes to the year end and accounting policies were also announced as the group has struggled to smooth out its two-year race-orientated cycle. However the group warned that the full year results to April 2000 'will not be too exciting'. Nevertheless, shares jumped 19% to 66p, before settling at 65.5p.