InfoSpace, Inc. to Join Fortune E-50 Index
NEW YORK--(BUSINESS WIRE)--Aug. 31, 2000--FORTUNE announced today that InfoSpace, Inc. (NASDAQ: INSP) will be added to the FORTUNE e-50(TM) Index (FEX) after the close of trading on Tuesday, September 5, 2000, replacing component eToys Inc. (NASDAQ: ETYS).
InfoSpace, based in Bellevue, Washington, is a provider of infrastructure services ranging from content and technologies, to websites and wireless devices. In July 2000, InfoSpace announced an agreement to acquire Go2Net, Inc. (NASDAQ: GNET) in a stock transaction. InfoSpace reported 1999 revenue of $36.8 million.
Index components are generally removed from the Index if, during a 25-consecutive-trading-day-period, a company's closing share price falls below $5.00, daily trading volume is less than 100,000 shares, or total market capitalization is below $100 million. Over the past 25 trading days, eToys' closing share price remained below $5.00.
The FORTUNE e-50 Index was developed by the editors of FORTUNE to be the definitive benchmark of the Internet economy. Index component selections are made at the discretion of the FORTUNE Index Committee. In general, the Committee selects the 50 companies that best represent the Internet economy in the subsectors of e-Companies, Internet Communications, Internet Hardware, and Internet Software and Services.
For more information about the FORTUNE e-50 Index, including Index policies and procedures, as well as the entire list of companies in the FORTUNE e-50 Index, visit indexes.fortune.com. Index updates and changes can be viewed at www.amextrader.com.
FORTUNE e-50 Index - September 5, 2000
ACTION COMPANY INDUSTRY SECTOR ADDED InfoSpace, Inc. e-Company DELETED eToys Inc. e-Company
FORTUNE and FORTUNE e-50 are trademarks of Time Inc. FORTUNE makes no representation or warranty as to the accuracy and/or completeness of the FORTUNE e-50 Index or the data included therein or the results to be obtained from the use of the FORTUNE e-50 Index or the data included therein.
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