Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : Patriot Scientific - PTSC -- Ignore unavailable to you. Want to Upgrade?

To: Starlight who wrote (7465)	7/25/2000 3:07:14 PM
From: FastC6	Respond to of 8581

These pr's use to be good for a little pop in price.....the paid for advertisements from a broker are even better. Glad to see the market just shrugs off all this b.s. now. . .

To: Starlight who wrote (7465)	7/26/2000 11:25:48 PM
From: Urlman	Read Replies (2) \| Respond to of 8581

SI UNDER NEW MANAGEMENT: InfoSpace to Buy Allen-Backed Go2Net for $4 Bln (Update2) By Jim Finkle and Greg Chang Redmond, Washington, July 26 (Bloomberg) -- InfoSpace Inc., which sells services to Web sites and wireless carriers, said it will buy Go2Net Inc., a Web-site operator backed by Microsoft Corp. co-founder Paul Allen, for about $4 billion in stock. InfoSpace will pay 1.82 of its shares, or $86.91, for each of Go2Net's 46.2 million fully diluted shares. That's a 43 percent premium from Go2Net's closing price today of 60 9/16. The marriage weds two money-losing companies whose stocks have been among the biggest gainers in the past few years. InfoSpace soared more than 10-fold since the beginning of 1999, and Go2Net climbed fivefold during the same period. It also combines InfoSpace's wireless services with Go2Net's expertise in high-speed Internet access developed with cable-related companies such as RCN Corp., which also is backed by Allen. ``The opportunities in the near term are far greater in broadband than they are in wireless,'' said Patrick Keane, a senior analyst with Jupiter Communications who follows the Internet industry. The move concerned some investors, who sold InfoSpace shares after the announcement, pushing them down 15 percent. The stock recently was quoted at 40 1/4 in after-hours trading. Before the announcement, the shares rose 1 7/16 to 47 3/4 on the Nasdaq Stock Market. InfoSpace, based in Redmond, Washington, was founded four years ago by former Microsoft engineer Naveen Jain. It has grown from a company that offered search engines to Web sites into a provider of Web services to wireless companies including AT&T. More Services Acquiring Go2Net will give InfoSpace the ability to process payments over the Internet and also deliver high-speed Web services like interactive games and films over cable modems and through digital subscriber lines, or DSL. ``Our partners have been asking us for a single solution across narrowband, broadband and wireless,'' Jain said in a conference call with analysts. The acquisition will also bring InfoSpace into competition with other Web media companies, including Excite At Home and NBC Internet Inc.'s Snap unit, Jupiter's Keane said. Allen's Vulcan Ventures held common and preferred shares that gave it a 30 percent stake in Go2Net as of January, making it the company's biggest shareholder, according to a Go2Net proxy statement. The move gives Allen programming and services that he could deliver over high-speed lines owned by his cable-TV company, Charter Communications Inc. Allen has invested billions of dollars in cable, Internet and other technology ventures. InfoSpace reported second-quarter results today, saying its loss widened to $31.3 million, or 14 cents a share, from $9.9 million, or 5 cents, a year earlier. Revenue more than tripled to $24.57 million from $6.98 million. Go2Net last week reported a loss of $10.3 million, or 33 cents a share, for its fiscal third quarter ended June 30. Revenue quadrupled to $23 million from $5.7 million. The Seattle-based company's shares were recently quoted at 69 in after-hours trading. Before the announcement, they had fallen 1 9/16 to 60 9/16.