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

To: KERRY.COLLINGS who wrote (21688)	10/13/2000 4:23:38 PM
From: KLP	Read Replies (1) \| Respond to of 28311

Hi Kerry: A few more of the notes I took from the GNET meeting yesterday: (had to unscramble my chicken scratch....) Few shareholders in the audience...probably 30-50 At head table: Caldwell, Riccio, Keister, Horowitz, Dagett, Zocher (Eric, did I spell that correctly..? sorry if not) 1.82 shares of INSP for every GNET share All items on the agenda were passed, making GNET a wholly owned subsidiary of INSP Notes from Q&A: (Remarks from Russell are paraphrased, unless in quotes) Acceleration of hiring because of opportunities of combined companies. Going into merger, GNET was profitable, INSP was profitable, then acquisions. Combination of P&L, growing, profitable, 400 million in cash near term Even as the share price has declined, they are staying committed, and discuss with analysts the cross platform. Share prices in general are down, and the tech group has been hammered. There will be survivors and winners on one side, and losers on the other. They are staying focused on the winning side. Russell said "they continue to be super comfortable with the reporting"...reporting will be in a few weeks. Currently 1100+ employees in combined company. One half of these are engineers. GNET started a year ago with 100 employees, now have 550. Will be some good market purchase opportunities, great management team, multiple revenue streams, they are not letting the market distract them....Russell said in the middle of a long thought..."Is this one sentence? Mentioned 'Tale of Two Cities....Best of Times, Worst of Times'".. Russell indicated the same thing that Roger related from the INSP meeting: After this merger with Go2Net today, we will be creating the first real integrated end-to-end infrastructure company encompassing four major "spaces" simultaneously (narrowband, broadband, wireless, and merchant/consumer services). In a sense, there will be no direct competition that will have our breadth and depth, except for "niche" players. Provide a range of applications to any device. INSP provides a full range of private label applications to a variety of companies. This has always been viewed as a MERGER and COMBINES the best of BOTH companies. The combined companies will continue to be acquisitive. Willl be the biggest in their space. Russell indicated there was lots of activity here. Russell remarked "re the Internet...not much doubt about it, it is going to continue....question is how quickly, and it IS moving quickly." Closing of a chapter. Start of new era. Great team, employee group, shareholders, and support has energized, motivated them. Most names and faces will stay, and commitment will remain the same, maybe even larger in the new company. We are part of something exceptional.