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: Urlman who wrote (663)	1/4/1999 10:28:00 AM
From: Technologyguy	Respond to of 28311

Great acquisition for GNET: Go2Net Acquires Web21, Adding Profitable Web Ranking Company to the Go2Net Network; 100hot.com Web Index Bolsters Go2Net Portal PR Newswire - January 04, 1999 08:45 SEATTLE, Jan. 4 /PRNewswire/ -- Go2Net, Inc. (Nasdaq: GNET) (http://www.go2net.com), a network of technology- and community-driven Web sites, today announced that it has acquired Web21 (http://www.100hot.com), the first online service to establish a category-by-category ranking of Internet sites. Founded in May 1995, Web21 adds a profitable business to the Go2Net Network with its 100hot.com index, which identifies and ranks the top 100 Web sites in such categories as technology, entertainment, business, shopping, lifestyle, games, sports and news. The acquisition was made for approximately $13.5 million in stock. "Web21 is a solid fit for Go2Net, bringing a valuable index and more than one million unique visitors per month to the Go2Net Network, along with positive revenue streams from a loyal base of advertisers and business partners," said Russell C. Horowitz, Go2Net chief executive officer. "Go2Net will work to maintain 100hot.com's position as the destination of choice for Web users interested in where their peers on the Internet are going." Web21 compiles its listings based on the analysis of log files from cache servers located at strategic points throughout the Internet. The 100hot.com rankings enable Web users to find the most popular sites on the Internet as a whole, or within each of the 100hot.com categories. "Go2Net Network users, advertisers and partners will benefit from the addition of Web21, while 100hot.com users will notice the increased attention Go2Net plans to direct toward the index," Horowitz added. "In the months ahead, we will enhance 100hot.com and develop ways to offer strong value and cross-promotion opportunities for current Web21 and Go2Net advertising clients and business partners. This will also extend across the individual sites that comprise the Go2Net Network." "We believe tremendous synergies exist between 100hot.com and the Go2Net Network," said Bert Fornaciari, Web21 founder and president. "Go2Net has established itself as home to many of the Internet's premier brands and we're pleased to be joining the Go2Net Network." Terms of Acquisition: The acquisition is valued at approximately $13.5 million in Go2Net stock and is being accounted for as a pooling of interests. The transaction closed on December 31, 1998. Under terms of the acquisition, Go2Net will issue approximately 385,000 of its common shares in exchange for all outstanding securities of Web21, which will become a wholly owned subsidiary of Go2Net. Web21 will remain based in Palo Alto, CA and company founder Bert Fornaciari will continue to serve as president of Web21. About Web21 Web21 is the first company to use Internet activity data gathered from multiple sources to rank the world's most popular World Wide Web sites. The company also provides 100hot InSite research services (for corporations and organizations interested in tracking the popularity of their own Web sites or those of their competitors), 100hot search and the newly introduced 100hot surfboard and advertising service, which automatically adds bookmarks to users' browsers.