Then PTEK must be cash rich now!!
i2GO news:
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Wednesday March 1, 2:49 pm Eastern Time
Company Press Release
PTEKVentures Leads $10 Million Second-Round
Funding for i2Go.com
PTEKVentures Continues to Expand Its Network of Internet Companies
ATLANTA--(BUSINESS WIRE)--March 1, 2000-- PTEK Holdings, Inc. (NASDAQ: PTEK; www.ptek.com) and its
strategic investment arm PTEKVentures, today announced that it has lead a $10 million investment round in i2Go.com
(www.i2go.com), a leader in delivering personalized Internet audio content to mobile Internet appliances for businesses and
consumers.
i2Go enables users to select and customize from a broad array of rich audio content that is delivered to interactive Internet
appliances, such as MP3 players. The company's patent pending solution includes three major components: an audio portal
(www.i2Go.com) designed from the ground up to support wireless and e-commerce applications, a desktop media manager
(MP3Agent(TM)), and an enabling MP3 interactive mobile Internet appliance (eGo). Each component can be used separately
to provide a specific value proposition or in combination to deliver true end-to-end Internet-to-go.
``i2Go is clearly a pioneer in its industry, and we believe the company will be a driving force in the transition to deliver
personalized Internet audio content' said Boland T. Jones, PTEK Holdings' Founder, Chairman and CEO. ``i2Go.com is
moving quickly, and embracing the market opportunity that mobile commerce represents and we're very pleased to have i2Go
in our expanding network of successful Internet companies.'
``We are pleased to join the PTEK network and anticipate great things to come out of this new relationship,' said Sam
Johnson, CEO, i2Go.com. ``We can now implement our strategy to become the personalized `audio homepage' for businesses
and consumers on the go. PTEK's proven track record in recognizing industry category leaders early on was a significant
reason why we chose PTEKVentures over others as our early investor.'
``We believe wireless Internet access will change consumer behavior forever and we expect exponential growth for the demand
in wireless Internet services over the coming years as businesses and consumers grow more accustomed to the idea of Web
access anytime, anywhere,' continued Johnson. ``Initially our services will be delivered through a `connected' device, and as
wireless technology improves, i2Go.com's services will substantially increase the utility of broadband wireless networks.'
About PTEK Holdings, Inc.
PTEK Holdings, Inc. (NASDAQ: PTEK - news), which recently adopted an opervesting business model, is a network of
leading Internet and business-to-business service providers. The Company's PTEKVentures investment arm has ownership
interests in Healtheon/WebMD (NASDAQ: HLTH - news), S1 Corporation (NASDAQ: SONE - news), USA.NET,
Webforia, Derivion and i2Go.com. PTEK's three operating units are Xpedite, Voicecom and Premiere Conferencing. PTEK
leverages the technologies, management expertise, market channels and capital of its network to drive growth and promote
market leadership throughout its operating and network companies. Additional information can be found at www.ptek.com.
About i2Go.com
i2Go.com, a leading provider of personalized Internet audio content for businesses and consumers on the go, was founded in
March 1999 in Atlanta, Georgia. The company enables users to select and customize audio programming from a broad array of
best in class content players that is delivered to mobile Internet appliances. By combining its Web site, its unique
MP3Agent(TM) media manager desktop application, and its eGo interactive portable Internet appliance i2Go.com empowers
consumers to personalize their listening experience by choosing from a wide range of digital audio content such as News,
Sports, Weather, Entertainment and music from the Internet and listen to it on the go. i2Go.com can be reached through the
World Wide Web at www.i2Go.com.
NOTE TO EDITORS: Statements made in this press release, other than those concerning historical information, should be
considered forward-looking and subject to various risks and uncertainties. Such forward-looking statements are made pursuant
to the `safe harbor' provisions of the Private Securities Litigation Reform Act of 1995 and are made based on management's
current expectations or beliefs as well as assumptions made by, and information currently available to, management. A variety
of factors could cause actual results to differ materially from those anticipated in Premiere's forward-looking statements,
including the following factors: competitive pressures among communications services providers, including pricing pressures,
may increase significantly; Premiere's ability to respond to rapid technological change, the development of alternatives to its
products and services and the risk of obsolescence of its products, services and technology; market acceptance of new
products and services; development of effective marketing, pricing and distribution strategies for new products and services;
strategic investments in early stage companies, which have limited operating histories and are subject to significant risks, may
not be successful and returns on such strategic investments, if any, may not match historical levels; the value of Premiere's
business may fluctuate because the value of some of its strategic equity investments fluctuates; Premiere's strategic investments
in companies that are subject to the Securities Exchange Act of 1934 are subject to the risks disclosed by those companies in
their public filings; Premiere may incur significant costs and may be forced to make disadvantageous business decisions to avoid
investment company status, and Premiere may suffer adverse consequences if it is deemed to be an investment company;
Premiere's ability to manage its growth; costs or difficulties related to the integration of businesses and technologies, if any,
acquired or that may be acquired by Premiere may be greater than expected; expected cost savings from past or future
mergers and acquisitions, may not be fully realized or realized within the expected time frame; revenues following past or future
mergers and acquisitions may be lower than expected; operating costs or customer loss and business disruption following past
or future mergers and acquisitions may be greater than expected; the success of Premiere's strategic and other distribution
relationships, including the amount of business generated and the viability of the strategic relationships, may not meet
expectations; possible adverse results of pending or future litigation or adverse results of current or future infringement claims;
risks associated with interruption in Premiere's services due to the failure of the platforms and network infrastructure utilized in
providing its services; risks associated with the Year 2000 issue, including Year 2000 problems that may arise on the part of
third parties which may effect Premiere's operations; risks associated with expansion of Premiere's international operations;
general economic or business conditions, internationally, nationally or in the local jurisdiction in which Premiere is doing
business, may be less favorable than expected; legislative or regulatory changes may adversely affect the business in which
Premiere is engaged; and changes in the securities markets may negatively impact Premiere.
For a detailed discussion of these and other cautionary statements and factors that could cause actual results to differ from the
Company's forward-looking statements, please refer to the Company's filings with the Securities and Exchange Commission,
especially in the ``Factors Affecting Future Performance' included in the Management's Discussion and Analysis section of the
Company's Form 10-K for the fiscal year ended December 31, 1998 and in subsequent filings filed with the Securities and
Exchange Commission.
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