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

To: KLP who wrote (24140)	2/2/2001 11:43:08 PM
From: Roger Sherman	Read Replies (5) \| Respond to of 28311

The "Current" INSP Board of Directors (BOD)... For those of you who have been very curious as to just who is now on the Board, since the little "management shake-up" (announced to the World on 1/22/01), which...along with the company's recent "earnings report" and Conference Call "guidance," all of which begat numerous analyst downgrades, and the stock to drop (another) almost 50% in share value (in a single friggin week)... I finally received the following information...from as close to the "horses mouth" as I could get (and I certainly don't mean that in a bad way <g>): InfoSpace Board of Directors (as of 2/2/01) 1. Naveen Jain (also a pre-"merger" INSP Board member) ........Chairman of the BOD, a now also the "new" CEO replacing Arun Sarin 2. Arun Sarin (also a pre-"merger" INSP Board member) ........He resigned as CEO, and is now Vice Chairman and a "consultant" 3. John E. Cunningham (also a pre-"merger" INSP Board member) 4. Peter L.S. Currie (also a pre-"merger" INSP Board member) 5. David C. House (also a pre-"merger" INSP Board member) 6. Rufus W. Lumry, III (also a pre-"merger" INSP Board member) 7. Bill Savoy (a "new" BOD member, following the GNET/INSP "merger") ........President of Paul Allen's Vulcan Ventures (and a really "cool" guy) ........Previously on the GNET BOD, as one of VV's two reps. 8. Ed Belsheim (replaced Russell Horowitz as COO & member of BOD) ........Previously an INSP Vice-President & general counsel For those of you who were shareholders of either INSP or GNET prior to the "merger," if you still have the document they mailed to you titled "Joint Proxy Statements/Prospectus, InfoSpace, Inc./Go2Net" before the shareholder's vote to approve the merger (held on 10/12/00)...if you turn to pages 112-116 and 120-121, you'll find information on the INSP BOD at that time (six of whom are still on the current Board). As an interesting side note. If you go to page 121, you'll find this statement regarding a footnote (#12) on page 120 regarding Arun Sarin's 2,300,875 shares: "Includes 2,296,875 shares of common stock subject to options exercisable within 60 days of July 31,2000. Should Mr. Jain leave InfoSpace within twelve months of his hire date, a ratable portion of the vested potions would be returned to InfoSpace." In you now turn back to page 112, you will find Sarin joined InfoSpace in April 2000. It appears there are absolutely ZERO previous executives from GNET on the current INSP Board of Directors, and the only previous GNET BOD member is Bill Savoy (Paul Allen's representative for Vulcan Ventures). I believe VV and/or Paul still owns approx. 8% of INSP, having previously (pre-"merger") owned approx. 30% of GNET (after having been unsuccessful in his offer to buy controlling interest of GNET in March of 99). Paul Allen's complete silence (as a "major" INSP shareholder) regarding this entire INSP/GNET fiasco is ABSOLUTELY DEAFENING! Heck, he could now offer to buy controlling interest in INSP for about 1/5 the price/share (converted since the "merger") he offered to buy GNET, when he offered to buy controlling interest at $90/share (which became $45/share after GNET's last 2:1 stock spit...which would now be approx. $24/share of INSP after the 1.86 INSP/GNET stock swap following the merger). And INSP closed for the second straight day in a row, with it's now new "official" distinction of being a friggin dmn "penny stock" (under $5/share) of all things. I guess the smarter "shorts" knew this would happen all along. Geesh Paul (are you and Bill still reading this thread?), isn't INSP an absolute steal for you (and your "Wired/wireless World" vision) at $4.875/share (today's close). I'm sure many of us shareholders would go along with you this time, if you want to buy controlling interest in the dmn thing (and perhaps hire a new CEO who knows how to turn a profit "sooner rather than later"...maybe someone who also went to Lakeside High School, like you did). Also, perhaps somebody who can inspire the "troups" more than just sending out emails to the employees quoting Teddy Roosevelt. :) Just my very humble opinions, that's all.... And that's all I have to say about that. Roger #FortyNinerNiner