And since I'm shamelessly touting GNET, I might as well add this <vbg>
SEATTLE, July 21 (Reuters) - Wall Street's current
assessment of Go2Net Inc.'s (NASDAQ:GNET) growth prospects is weaker
than warranted, based on the Internet portal company's strong
business and recent acquisitions, its chairman said on
Wednesday.
"Based on the rapid increase in our market position,
momentum throughout our business and key recent acquisitions,
we feel that Wall Street's current expectations for Go2Net's
revenues and profits do not fully reflect the underlying
strength in our business, particularly given our opportunities
with transactions-basd e-commerce and small business services,"
Chairman and Chief Executive Officer Russell Horowitz said.
Go2Net on Wednesday reported pro forma second quarter net
income of $3.1 million, or seven cents a diluted share, beating
Wall Street's consensus estimate of five cents a share.
The company said page views across its network rose to 18.5
million a day in June from 12.3 million a day in March.
Seattle-based Go2Net announced several acquisitions during
the second quarter, including a $90.5 million purchase of
online payment authorization service Authorize.net.
Microsoft Corp. (NASDAQ:MSFT) co-founder Paul Allen's Vulcan
Ventures investment vehicle has invested $300 million in
Go2Net, the company said.
and this...
BELLEVUE, Wash.--(BUSINESS WIRE)--July 21, 1999--Asymetrix
Learning Systems, Inc. (NASDAQ:ASYM), the leading provider of online
learning solutions, and Go2Net, Inc. (NASDAQ:GNET), a network of
branded, technology- and community-driven Web sites, today announced a
memorandum of understanding for a comprehensive, three-year marketing,
distribution, licensing and co-branding partnership.
Go2Net will offer Asymetrix Learning Systems' click2learn.com to
its rapidly growing user base, in the form of co-branded training
offerings throughout the Go2Net Network. As part of the agreement,
Asymetrix and Go2Net also announced today that Go2Net will invest $3
million in Asymetrix common stock, along with warrants to acquire an
additional $3 million in common stock. Additional financial terms of
the agreement were not disclosed.
Using click2learn.com (preview available at
click2learn.asymetrix.com), Go2Net will provide co-branded
learning environments throughout its MetaCrawler, HyperMart, Virtual
Avenue and Silicon Investor Web sites, offering users access to
hundreds of online learning courses on various relevant topics.
Additionally, users will have access to the revolutionary new "browser
only" free click2learn.com authoring and publishing system that allows
anyone to create and publish courseware, and receive royalties on
their courses that are purchased through the click2learn.com network.
"Go2Net has built an outstanding community of more than 400,000
small businesses as well as millions of individual users," said Jim
Billmaier, CEO of Asymetrix Learning Systems. "click2learn.com will
provide Go2Net's network of web sites with easy access to continuing
education to further the success of their sites by increasing site
loyalty and value, and the "stickiness" of the site."
Go2Net and its users will participate in a financial model in
which revenue is shared among the course creator, the Go2Net Network
site through which the course is accessed or published, and the
click2learn.com network. Current content categories include end-user
and professional computer training, business and professional skills,
industrial and OSHA required training, as well as personal skill
development and continuing education. In addition to courses expected
to be published by individuals using the free click2learn.com
authoring and publishing system, online content is also currently
provided by several industry-leading developers for interpersonal,
computer and business skills.
"We believe there are considerable synergies involving the custom
online learning environments developed by Asymetrix Learning Systems
and the area-specific interests of Go2Net's growing user base, whether
it's a business owner on HyperMart or an individual user anywhere
throughout the Go2Net Network," said Russell C. Horowitz, Go2Net Chief
Executive Officer. "The addition of click2learn.com's authoring and
publishing capabilities to the Go2Net Network brings added depth to
our sites in the process of enabling our individual users and member
businesses to share their areas of expertise."
Go2Net Network community members will also have access to free
"2MinuteTutors(tm)" -- short, engaging tutorials on a wide range of
general-interest topics -- as well as free trials of courses from
independent content providers. Go2Net and Asymetrix have agreed to
build a series of 2MinuteTutors that will enhance the learning
experience of Go2Net community members. These new 2MinuteTutors will
be integrated throughout the Go2Net Network.
Go2Net recently announced that its reach grew by approximately 20
percent from May through June of this year, facilitating Go2Net's
first entry into the Top 10 Digital Media/Web Properties, as measured
by Media Metrix. The measurement firm ranked the Go2Net Network number
9 in reach among home/work users in June, compared to a number 15
ranking in May. This growth rate reflects a month-to-month increase in
use on the Go2Net Network's existing properties during a time period
in which no acquisitions were consolidated. Since January, the Go2Net
Network has extended its reach by more than 91 percent, making it the
fastest growing property among the Internet's top 20 destinations. |
