In this paper we demonstrate that modeling e-business strategies is important in a time where the first e-business disillusionment has taken place. The objective of this Paper is twofold. First we propose a theoretical e-business model framework (eBMF) for aligning e-business initiatives and projects. This framework represents an ontology which will allow firms to develop a sound e-business model, in an environment that is amongst other things characterized by new forms of network organizations. Second we show why the eXtensible Markup Language (XML) is an adequate technology for describing this theoretical framework in a formal way.