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INTERNET.COM VENTURE FUNDS ANNOUNCE INVESTMENTS IN RECOMMEND-IT.COM, BUILDCENTRAL.COM AND VALIDEA.COM AND ADDITIONAL FUNDING SECURED BY TUTOR.COM
(New York, NY- July 12, 2000)-internet.com Venture Partners III, part of the affiliated venture capital arm of internet.com Corporation (Nasdaq: INTM), today announced that it has closed investments in Recommend-It.com, BuildCentral.com and Validea.com. Lighthouse Capital, L.C. participated in this round of investments in Recommend-It.com and Toronto Dominion Capital, Inc. was involved in the round of investments in Validea.com as well. internet.com also announced that Tutor.com, an internet.com Venture Fund I portfolio company, has secured an additional round of funding at an increased valuation from Wit SoundView Ventures, The Princeton Review and Northstar Capital Partners. With these new investments, internet.com Venture Partners III's $75 million fund that closed on June 5, 2000 now has nine companies in its portfolio.internet.com Venture Partners III strategically follows internet.com Venture Funds I and II by expanding the portfolio of early-stage investments in Internet properties that demonstrate high growth potential and promote community and commerce through vertically focused content and informational resources. internet.com Venture Funds have invested in 43 Internet properties to date.
About Recommend-It.com
Recommend-It.com (http://www.recommend-it.com) is an Internet service that provides comprehensive viral marketing solutions to Web sites of all sizes. Web sites using Recommend-It empower their visitors with an easy way to tell their colleagues and friends about a company's products and services. Just like in the offline world, personal referrals are a proven way to attract high-quality, targeted visitors to Web sites. Recommend-It is also a leading provider of opt-in email, with over 2.5 million subscriptions to its newsletters.
About BuildCentral.com
BuildCentral.com (http://www.buildcentral.com) owns and operates a network of vertical communities, each dedicated to a single construction trade. The communities provide a comprehensive source of information, a means of interacting with others and facilitate transactions by bringing together buyers and sellers of similar commercial interests. BuildCentral's communities focus on providing services to the customers, contractors, architects, manufacturers and other industry professionals in their respective trades.
About Validea.com
Validea.com (http://www.validea.com) ranks and evaluates stock picking professionals based on their investment ideas so investors can make better investment decisions. By tracking stock ideas from over 35 online, print and television sources, Validea has created the first forum that holds the financial media accountable. Validea.com packages its proprietary content into unique applications for distribution to strategic partners. These services help partners create a full-service financial Web site where users can complete the entire investment decision making process in one location.
About Tutor.com
Tutor.com (http://www.tutor.com) is the premier enabler of online learning communities. Founded in partnership with The Princeton Review, Tutor.com has more than 17,000 registered tutors in more than 400 subjects. Tutor.com creates highly customizable tutor networks for its online partners that allows learners to easily search an extensive database of registered tutors by multiple criteria including subject and hourly fee as well as teaching philosophies, academic and teaching qualifications and reviews from previous students.
About internet.com
internet.com Corporation (http://www.internet.com), the Internet Industry Portal, is located in Darien, CT. It 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 126 Web sites, 175 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, Korea, The Netherlands, New Zealand, 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. For Venture Capital information, contact Kirk Holland, Vice President, Business Development, [email protected] or (650) 745-3636.
"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]
Mary Ann Boland
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)