Go2Net invests millions in gamemaker Sandbox
Reuters, 07/13/2000 20:29
SEATTLE, July 13 (Reuters) - Web site network Go2Net Inc. (NASDAQ:GNET) and Vulcan Ventures, the private investment company of Microsoft co-founder Paul Allen, said on Thursday they were investing $20 million in Sandbox.com, a maker of interactive games.
The investment would give Go2Net the right to use some Sandbox games in its family of Web sites, such as gaming destination PlaySite and its Silicon Investor personal finance service.
Sandbox products inlcude sports, casino, trivia, arcade and financial games.
Seattle-based Go2Net, which is also backed by Vulcan, sees the tie-up with Reston, Va.-based Sandbox as another stepping stone in an eventual transition to broadband, or high-speed, services, which in turn will enable faster, richer games.
"Sandbox is very complimentary for our offerings," Go2Net President John Keister said in an interview. "Games is an obvious (category) that will drive penetration of broadband and have multiple revenue streams."
Keister declined to give a breakdown of the investment between Go2Net and Vulcan.
Gaming subscriptions, video advertisements and corporate sponsorships were some of the ways Go2Net could capitalize on Internet gaming, Keister said.
Other parts of Go2Net's broadband strategy include search, personal finance and it's electronic commerce tools to help small businesses set up shop online, Keister said.
Shares in Go2Net rose 4-1/4, or 9 percent, to 51-3/8 on the Nasdaq. scott.hillis1@reuters.com))
Copyright 2000, Reuters News Service
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