Exhibit 12.1

Internet Capital Group, Inc.

Computation of Earnings to Fixed Charges (amounts in thousands, except ratios)

	Period ended March 31,			Years Ended December 31,
	2004			2003			2002			2001			2000			1999
Net loss before income taxes	$	(123,795	)	$	(135,884	)	$	(102,219	)	$	(2,338,730	)	$	(666,548	)	$	(29,777	)
Plus fixed charges -
Interest expense including amortization of debt issuance costs		1,630			16,564			23,398			42,670			42,982			3,897
Adjustments (1)		555			12,164			65,676			940,637			896,146			86,073
Adjusted Earnings		(121,610	)		(107,156	)		(13,145	)		(1,355,423	)		272,580			60,193
Fixed charges		1,630			16,564			23,398			42,670			42,982			3,897
Deficiency of earnings to cover fixed charges	$	(123,240	)	$	(123,720	)	$	(36,543	)	$	(1,398,093	)
Ratio of earnings to fixed charges														6.3			15.4

(1) Adjusts earnings to include the full amount of losses of majority-owned subsidiaries and exclude equity losses for partner companies accounted for under the equity method for which we have not guaranteed or otherwise undertaken, directly or indirectly, to service the debt of such companies.