Hi Cisco...missed you! Here's a little note of an event during the merger process...mentions GNET and Digeo, and TheStreet....
This was dated August 8, 2000......DURING THE MERGER PROCESS FROM JULY 26 to Oct 12, 2000
News Releases
thestreet.com
FOR IMMEDIATE RELEASE Contact:
Sean McLaughlin
TheStreet.com
212.321.5254
smclaughlin@thestreet.com
Mark S. Peterson
Go2Net, Inc.
206-357-4000
mark@go2net.com
Susan Pierson Brown
Vulcan Ventures Inc.
425-453-1940
susanp@vnw.com
The Financial Relations Board for TheStreet.com:
Glenn Sapadin
gsapadin@frb.bsmg.com
212-661-8030
TheStreet.com Licenses Go2Net's Message Board Technology Platform
SECURES $7.5 MILLION INVESTMENT FROM VULCAN VENTURES AND GO2NET
NEW YORK, August 08, 2000 - TheStreet.com, Inc. (Nasdaq: TSCM ), a leading provider of financial news and commentary, today announced that it has licensed Go2Net's (Nasdaq: GNET ) proprietary message board technology platform, giving its RealMoney.com base of more than 109,000 subscribers the ability to view and post messages in a private-label environment. TheStreet.com also announced today that it has received a $7.5 million cash investment from Vulcan Ventures, the investment organization of Paul G. Allen, and Go2Net, one of the Internet's leading providers of applications and technologies.
Under the investment agreement, Vulcan Ventures and Go2Net will purchase a total of 5.0% of TheStreet.com's outstanding stock. In addition to their initial investment, Vulcan and Go2Net each have received an option to purchase an additional 7.45% of the outstanding stock of TheStreet.com during the next six months, at a substantial premium to yesterday's closing price.
As an additional component of the licensing arrangement, the nearly three million monthly users of TheStreet.com's free main site will be able to view message boards using Go2Net's technology platform, which also powers Go2Net's popular Silicon Investor (http://www.siliconinvestor.com/) discussion boards.
"We're delighted to be working with Vulcan Ventures and Go2Net," said Thomas J. Clarke, Chief Executive Officer of TheStreet.com. "They share our vision of providing action-oriented news, analysis and community to investors through multiple platforms. Their investment in TheStreet.com is a vote of confidence in our financial strength, our brand, and our new business model."
"We're very pleased to extend Go2Net's community-building message board technology platform to TheStreet.com's millions of readers and the more than 109,000 RealMoney.com subscribers," said Russell C. Horowitz, Go2Net Chairman and Chief Executive Officer. "We also look forward to working closely with TheStreet.com to enhance Go2Net's finance offerings, which are delivered across multiple platforms and devices."
"TheStreet.com has established a leadership position in the personal finance category, which we believe will continue to be a key area of growth for years to come," said William Savoy, president of Vulcan Ventures.
About Go2Net, Inc.
Go2Net (http://www.go2net.com/) is one of the Internet's leading providers of Internet applications and infrastructure technologies for both narrowband and broadband devices. The Go2Net Network features many of the Internet's leading destinations, including MetaCrawler, Silicon Investor, the HyperMart Network, PlaySite, Dogpile and 100Hot. Go2Net's HyperMart Network offers small business hosting and e-commerce solutions to more than one million members worldwide. Go2Net's Authorize.Net payment processing platform enables more than 80,000 merchants to securely process transactions online. Go2Net licenses its applications and technologies to strategic partners such as Hasbro, National Discount Brokers, Allegiance Telecom and Digeo Broadband, a joint venture among Go2Net, Charter Communications and Vulcan Ventures.
About Vulcan Ventures Inc.
Vulcan Ventures Inc. of Bellevue, Washington was founded by Paul G. Allen in 1986 to research and implement his investments. Through Vulcan Ventures, Allen invests in companies which offer products, services or technologies that fit his Wired World strategy and can contribute to or benefit from the technology and strategy of other companies within the group's extensive investment portfolio. In addition, the group owns Charter Communications, the fourth largest cable operating company in the United States with more than 6 million subscribers. Recent investments include those in innovative content (e.g. Oxygen Media, ZDTV), Internet and e-commerce (e.g. Drugstore.com, eGreetings, Go2Net, Priceline.com, Stamps.com), telecommunications (e.g. Allegiance Telecom, High Speed Access, InterNAP, NorthPoint Communications) and consumer device and service companies (e.g. Replay Networks, TiVo, and Wink Communications). William D. Savoy is president of Vulcan Ventures and represents Allen in his professional and personal financial transactions as well as manages the Vulcan investment analysts who investigate and secure investment opportunities. Allen remains chairman of Vulcan. For more information on Vulcan visit www.paulallen.com.
About TheStreet.com
TheStreet.com, Inc. (Nasdaq: TSCM ) is a leading provider of timely, to-the-point, actionable financial news and commentary -- through its network of free and subscription-based web sites, and through such brand extensions as conferences, books, wireless, and broadband. TheStreet.com brand is built on its best-in-class editorial team of experienced financial journalists based in New York City, San Francisco, and London, and commentators throughout Europe and Asia. TheStreet.com has established strategic alliances with The New York Times, Israel's Ha'aretz Group, America Online, Yahoo!, Intuit, 3Com, American Express and other leading companies.
Statements contained in this news release which are not related to historical facts may be deemed forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties (described in the Company's SEC filings) which could cause actual results to differ.
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