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INTERNET.COM CORPORATION AND INTERNET.COM VENTURE FUND II INVEST IN NETMECHANIC, A LEADING WEB TOOL PROVIDER
(New York, NY-March 16, 2000)-- internet.com Venture Fund II, part of the affiliated venture arm of internet.com Corporation (Nasdaq: INTM), today announced the closing of an investment in NetMechanic (http://www.netmechanic.com), a leading independent provider of Web site maintenance services and tools. As part of a separate agreement, internet.com Corporation also made an equity investment in NetMechanic in exchange for barter advertising. Additional terms were not disclosed.
"We continue to make vertical content investments in first-mover Web sites and NetMechanic clearly meets this criteria with its unique focus on Web technology," said internet.com chairman and CEO Alan M. Meckler. "The tools and services that NetMechanic provides are ideal for the Internet community of Web developers."
"We are pleased to have the opportunity to join forces with such a highly regarded industry provider such as internet.com," said Jeff Morgan, CEO of NetMechanic. "We benefit not only through a venture capital relationship, but also internet.com's role in guiding the growth and maturation of NetMechanic's business."
The investment is part of internet.com Venture Fund II's ongoing effort to further advance early-stage content and e-commerce Internet properties. internet.com Venture Fund I and II have invested in 28 Internet properties to date. 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 continues to have the added benefit of being a public operating company in the Internet space that also extends value to its stockholders by having an Internet venture capital arm. For further information about internet.com Venture Capital Funds visit (http://www.internet.comvc.com).
About NetMechanic, Inc.
NetMechanic, Inc. (http://www.netmechanic.com) is a leading independent provider of online Web site tools and services offering maintenance, monitoring and promotion for sites of all sizes. The primary components of HTML Toolbox™ include Spell Check, Load Time Check, GIFBot, Link Check, HTML Check and Browser Compatibility services. NetMechanic also offers Server Check Pro, a subscription service that monitors Web servers 7 days a week, 24 hours a day. Web site promotion with confirmed submission to over 100 of the top search engines is provided through EngineStarter™.
About internet.com Corporation
internet.com Corporation (Nasdaq: INTM; http://www.internet.com) based in New York, NY, 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 102 Web sites, 75 e-mail newsletters, 101 online discussion forums and 75 moderated e-mail discussion lists with over 2.2 million unique visitors that generate more than 120 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 180 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 internet.com's reports filed with the Securities and Exchange Commission pursuant to the Securities Act of 1933 and the Securities Exchange Act of 1934. The forward looking statements included herein are made as of the date of this press release, and internet.com assumes no obligation to update the forward looking statements after the date hereof.
For more information contact:
Steve Rubel
Schwartz Public Relations
(212) 677-8700 x23
[email protected]
Nicole Catalano
internet.com Corporation
(212) 547-7939
[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).