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.

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

To: Roger Sherman who wrote (24192)	2/5/2001 8:05:15 PM
From: Carolyn	Respond to of 28311

Well, Dr. Koop, Etoys, and the like were rather one-dimensional with a totally different platform. I am just so incredibly saddened by the result of Go2net's efforts.

To: Roger Sherman who wrote (24192)	2/5/2001 9:29:31 PM
From: KLP	Read Replies (1) \| Respond to of 28311

Breaking news tonight: Nasty "joke" is right, Roger...Although no one is laughing... This just off the breaking wire news from AP 8:39 EST tonight.... I'm reallllllllly NOT happy especially with the last paragraph......And it takes a LOT to make me angry. If this is true, there MAY be more here than meets the eye, and the pocketbook.... My Father used to say. "...'maybe' there 'might' be some HIGHLY suspect prevaricating going on..." Feb 5, 2001 - 08:38 PM InfoSpace to Cut 250 Jobs, Release Revised Financial Outlook By Allison Linn The Associated Press SEATTLE (AP) - InfoSpace Inc., a maker of software for Internet commerce, is cutting 250 jobs, or roughly 20 percent of its work force, to reduce overlap caused by its recent merger with Go2Net and is eliminating certain units altogether. The Bellevue, Wash.-based company, which is reducing its staff to 950 from about 1,200, also said it will revise its financial outlook for 2001 and 2002 in the next few weeks. Jodi Hanson, senior vice president of investor relations, said the company is not expecting to do any worse than previously anticipated, but she would not give any more details. On Jan. 29, InfoSpace released financial data showing a loss of $46.2 million, or 15 cents a share, for all of 2000, and projected a loss of 14 cents a share for 2001. In trading Monday, InfoSpace shares fell 14 percent, or 69 cents, to $4.12. InfoSpace, which provides software for e-commerce and other Internet services, acquired rival service provider Go2Net on Oct. 12 in a deal worth about $1.5 billion. Go2Net is best known for a multiplayer gaming platform, search engine and other Internet software used by consumers. "In the past few years we've done 20 acquisitions between the two companies," said Hanson, "and with all those companies together it makes sense (to make some cuts)." The job cuts will cut across all divisions, affecting salaried and hourly employees, Hanson said. News of the layoffs comes a few weeks after three top InfoSpace executives surprised analysts by leaving the company. InfoSpace's stock has continued to fall since that announcement sent it plunging more than 20 percent. Hanson said she does not believe changes at the company's top level will affect the company "because the people who are in executive positions now have been there - I want to say 'forever' in our history. Most people have been there at least two years." AP-ES-02-05-01 2039EST ap.tbo.com