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INTERNET.COM VENTURE FUND II ANNOUNCES INVESTMENTS IN MADEFORCHINA.COM AND SPOTTRADER.COM
(New York, NY--January 25, 2000)-- internet.com Venture Fund II, part of the affiliated venture arm of internet.com Corporation (Nasdaq: INTM), today announced the closing of investments in Spottrader.com and Beijing-based Madeforchina.com. The investments are part of internet.com Venture Fund II's expanding portfolio of early-stage investments in Internet content properties. internet.com Venture Fund I and II have invested in 24 Internet properties to date.Madeforchina.com (http://www.madeforchina.com) is an interactive marketing company that utilizes the Internet to market, position and launch products and services in China. Multinational clients include Hewlett Packard, Excite, United Airlines, IBM, Intel, Nokia, AT&T;, Swatch and Motorola. Madeforchina.com also owns and operates 51GO.com, a Chinese language, entertainment-focused vertical portal for China.
Spottrader.com (http://www.spottrader.com) is an online electronic commerce wholesale company focused on the sale of food and grocery products. The site also operates a leading business-to-business online auction facilitating sales of wholesale grocery products in the United States.
"We are excited about our first investment in mainland China and are confident that both these companies have tremendous potential to succeed in their respective Internet areas," said Alan M. Meckler.
For further information about internet.com Venture Capital Funds visit http://www.internet.comvc.com.
internet.com Venture Fund I and Venture Fund II were formed to invest in early-stage online content providers serving targeted markets that follow the strategy of, but are not competitive to, internet.com. internet.com is the portfolio manager of internet.com Venture Fund I and II and is an investor in both funds. internet.com will continue to follow the path of CMGI (Nasdaq: CMGI) and Internet Capital Group (Nasdaq: ICGE) with the added benefit of being a public operating company in the Internet space that also extends value to its stockholders by having a an Internet venture capital arm.
internet.com Corporation (http://www.internet.com), based in New York, New York, is a leading provider of global real-time news and information resources for Internet industry and Internet technology professionals, Web developers and experienced Internet users. internet.com operates a network of 90 Web sites, 71 e-mail newsletters, 101 online discussion forums and 75 moderated e-mail discussion lists with over 2 million unique visitors that generate more than 90 million page views monthly. Total "views", which include Web site page views, e-mail newsletter views and e-mail discussion list views, are now over 150 million per month. internet.com's global presence includes editions in Arabia, Asia, Australia, Canada, China, France, Germany, Israel, Japan, South Africa and the United Kingdom. In addition, internet.com with its related internet.com Venture Fund I and Venture Fund II is an investor in a growing number of business-to-business content sites and related Internet media properties.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding internet.com Corporation's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Prospectus dated June 25, 1999, Annual Report or Form 10-K for the most recently ended fiscal year, when available.
For more information contact:
Steve Rubel
Schwartz Public Relations
(212) 677-8700 x23
[email protected]
Nicole Catalano
internet.com Corporation
(203) 662-2870
[email protected]
All current internet.com Corp. press releases can be found on the World Wide Web at http://www.internet.com/corporate/press.html.