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INTERNET.COM VENTURE FUND II ANNOUNCES TWO NEW INVESTMENTS
(Darien, CT--December 16, 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 Foodservice.com and Howstuffworks.com. The investments are part of internet.com Venture Fund II's expanding portfolio of early-stage investments in Internet content properties. internet.com Venture Fund I and II have invested in 18 Internet properties to date.Foodservice.comTM is a leading business-to-business vertical community and online marketplace exclusively for the food service industry, featuring employment listings, online auctions, supplier listings, tradeshow information, discussion forums, classifieds, daily market prices and industry news.
Howstuffworks.com is an educational resource featuring original articles and editorial on a wide range of complicated everyday topics from the Internet and engines to household items and the human body. Through detailed descriptions and illustrations, the site seeks to simplify difficult subject matter into straightforward, easy-to-understand language. The site generates over 2 million monthly page views.
"Both sites have established solid foundations in very innovative areas of the Internet market," said internet.com chairman and CEO Alan M. Meckler. "Through our growing venture capital area, internet.com will continue to focus on investing in early-stage Internet companies that provide high-level content for Internet users."
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.
For more information on internet.com's venture investments visit http://www.internet.comvc.com or contact info@internet.comVC.com.
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 86 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 90 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 150 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.
