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Technology Stocks : InfoSpace (INSP): Where GNET went! -- Ignore unavailable to you. Want to Upgrade?

To: Sarkie who wrote (10387)	7/27/1999 5:19:00 PM
From: Sarkie	Read Replies (3) \| Respond to of 28311

Some daily news ... GREAT Article host.cnbc.com 7/27/99 - The Seattle Times Inside Technology Column -------------------------------------------------------------------- Jul. 27 (The Seattle Times/KRTBN)--HOW DIFFERENT A WEB TALE THEY WEAVE: It's a tale of two Internet companies whose plot rests on their financial results and whose moral is yet to be written. The two companies, Amazon.com and Go2Net, are based in Seattle. They both rely on the Internet to conduct business. And they both believe they're pursuing the right path to be among the top players in their fields. But last week, one announced a profit; the other, a loss. Although they target different businesses, the two show how the race to win the Web has as many strategies as contestants. Amazon.com is a retailer of books, music, electronics and a rapidly growing slate of other items. The founder, Jeff Bezos, pushes a strategy of invest and expand now, while the Internet is young. Profits at this point would be short-term distractions from the long-term goal of being the top place for shoppers to go on the Web. Now, Bezos likes to say, is a period of "insurmountable opportunity." For the quarter ended June 30, Amazon.com reported a pro-forma loss of $82.8 million, or 51 cents a share. The "pro-forma" figures exclude one-time charges from acquisitions and other expenses that may skew quarter-to-quarter or year-to-year comparisons. Meanwhile, Go2Net has built a popular network of Web sites, including its Silicon Investor financial discussion board, PlaySite online games page and HyperMart property, which hosts sites for businesses. Go2Net Chief Executive Russell Horowitz and President John Keister grew the company by buying sites that had a loyal following but relied on technology more than a pricey dedicated staff to keep them running. But the company needed something to distinguish itself from the rest of the Internet hubs, or "portals" that help users navigate the Web. Its gimmick? Turn a profit. For its third quarter ended June 30, Go2Net reported a pro-forma profit of $3.1 million, or 7 cents a share. But in the few days since the announcements, Wall Street has punished both companies with a sinking stock price. The two have other accomplishments that help offset Wall Street's slams. Amazon.com just celebrated its fourth anniversary of Internet retailing and has defied the Amazon.toast and Amazon.bomb epithets some use to refer to the company. Go2Net's network has jumped in popularity. In May, 8.5 million visitors went to Go2Net's sites, making it the 15th-most-popular network, according to Media Metrix. In June, Go2Net leapfrogged to No. 9 with 10.2 million visitors. But the verdict is still out on which way is better to ascend the Internet ladder. And now Go2Net is tapping on the shoulder of No. 8, which is -- you guessed it -- Amazon.com. By Helen Jung -0- Visit The Seattle Times Extra on the World Wide Web at seattletimes.com (c) 1999, The Seattle Times. Distributed by Knight Ridder/Tribune Business News. AMZN, GNET, END!A$19?SE-TECH-COL