This case describes the internationalization process and the considerations about a future international expansion of a very successful e-marketplace. The case illustrates the complexity of internationalizing an internet-based SME. Ex-Trade has identified the most suitable entry modes; i.e. entry modes that can handle a fast, broad and deep international expansion process with very limited resources. The case raises important questions as to the importance of physical presence for a dot.com firm selling digital products; products that in theory can be distributed digitally but in practice need to be organized by real people having real face-to-face dialog.