|
|
|
INTERNET.COM CLOSES $75 MILLION VENTURE FUND
(New York, NY - June 5, 2000)-- internet.com Corporation (Nasdaq: INTM), the Internet Industry Portal, today announced the formation of internet.com Venture Partners III LLC, dedicated to early stage investments in content Web sites. The Fund, which has received substantial institutional backing, closed on May 25, 2000. internet.com Corporation, of which Alan M. Meckler is chairman and CEO, will manage the Fund.
internet.com Corporation is also the portfolio manager of internet.com Venture Fund I LLC (April '99) and internet.com Venture Fund II LLC (November '99) and has made 33 investments to date, many of which have also received subsequent rounds of funding at increased valuations. AuctionRover.com, a Venture Fund I portfolio company, was acquired by GoTo.com (Nasdaq: GOTO).
internet.com Venture Funds I and II, and internet.com Venture Partners III were formed to invest in early-stage online content providers serving targeted business-to-business markets that follow the strategy of, but are not competitive to, internet.com. internet.com is an investor in all three funds. For additional information about the internet.com Funds and daily Internet venture capital news visit: http://www.internet.comvc.com.
About internet.com (http://www.internet.com)
internet.com Corporation (Nasdaq: INTM) 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 117 Web sites, 171 e-mail newsletters, 117 online discussion forums and 78 moderated e-mail discussion lists with over 2.4 million unique visitors that generate more than 130 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 185 million per month. internet.com's global presence includes editions in Arabia, Asia, Australia, Belgium, Canada, China, Espanol, France, Germany, India, Israel, Japan, The Netherlands, South Africa, Taiwan and the United Kingdom.
Interested advertisers should contact Susan Leiterstein, Vice President and Publisher of internet.com, at [email protected] or (203) 662-2962. For e-commerce and licensing opportunities, contact David Arganbright, Vice President, Commerce and Licensing, at [email protected] or (203) 662-2858.
"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]
Eileen Smith
Investor Relations
internet.com
(203) 662-2961
[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)