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INTERNET.COM VENTURE FUND II ANNOUNCES TWO NEW INVESTMENTS
(Darien, CT--December 7, 1999)-- internet.com Venture Fund II, part of the affiliated venture arm of internet.com Corporation (Nasdaq: INTM), today announced the closing of investments in Psylum.com and NationalContractors.com. The investments are part of internet.com Venture Fund II's expanding portfolio of early-stage investments in Internet content properties.Psylum.com is a leading online community for the hobby entertainment industry dedicated to collectible card games. Sites include The Dojo (http://www.thedojo.com), Psycomic (http://www.psycomic.com) and Pokegym (http://pokegym.thedojo.com).
NationalContractors.com (http://www.nationalcontractors.com) is a construction contractor referral Web site, referring pre-screened contractors worldwide for commercial, residential and industrial type projects up to $100 million dollars in value.
"We look forward to providing Psylum.com and NationalContractors.com with the resources and expertise needed to capitalize on the first-mover advantage that they both have established in their respective spaces," said internet.com chairman and CEO Alan M. Meckler. "We have now made 14 investments to date, through internet.com Venture Fund I and II, and we continue to seek out opportunities in early-stage business-to-business content sites that we believe have the vision and talent necessary to become category leaders."
internet.com Venture Fund I and Venture Fund II were formed to invest in early-stage online content providers serving targeted markets that follow the strategy of, but are not competitive to, internet.com. internet.com is the portfolio manager of internet.com Venture Fund I and II and is an investor in both funds. internet.com will continue to follow the path of CMGI (Nasdaq: CMGI) and Internet Capital Group (Nasdaq: ICGE) with the benefit of being a public operating company in the Internet space that also extends value to its stockholders by having a successful Internet venture capital arm.
internet.com Corporation (http://www.internet.com) based in Darien, Connecticut, is a leading provider of global real-time news and information resources for Internet industry and Internet technology professionals, Web developers and experienced Internet users. internet.com operates a network of 84 Web sites, 71 e-mail newsletters, 101 online discussion forums and 75 moderated e-mail discussion lists with over 2 million unique visitors that generate more than 80 million page views monthly. Total "views", which include Web site page views, e-mail newsletter views and e-mail discussion list views, are now over 140 million per month. internet.com's global presence includes editions in Arabia, Asia, Australia, Canada, China, France, Germany, Israel, Japan, South Africa and the United Kingdom.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding internet.com Corporation's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Prospectus dated June 25, 1999, Annual Report or Form 10-K for the most recently ended fiscal year, when available.
For more information contact:
Steve Rubel
Schwartz Public Relations
(212) 677-8700 x23
steve.rubel@schwartzpr.com
Eileen Smith
internet.com Corporation
(203)-662-2961
esmith@internet.com
All current internet.com Corp. press releases can be found on the World Wide Web at http://www.internet.com/corporate/press.html.
