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INTERNET.COM VENTURE FUND II INVESTS IN B2BEXPLORER.COM AND LAWBOOKS.COM
(Darien, CT--December 20, 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 B2BExplorer.com and LawBooks.com. The investments are part of internet.com Venture Fund II's expanding portfolio of early-stage investments in Internet content properties. internet.com, with its venture capital arm, has invested in 20 Internet properties to date.B2BExplorer.com (http://www.b2bexplorer.com) is a highly specialized search engine and worldwide directory for business professionals and offers a robust database of detailed business listings and profiles. The portal features online resources for the business community including discussion rooms, business news, tradeshow information and a career center among others. The company will use the investment to expand globally and to roll out additional online services.
LawBooks.com (http://www.lawbooks.com) seeks to become the first Web site to offer a one-stop resource for all law-related e-commerce needs for professionals within the legal industry as well as consumers of legal services. Through a combination of top-quality content and cost-effective e-commerce options, the site seeks to become a leading provider of law books and other legal information products.
"We are impressed with the e-commerce and business-to-business focus of both LawBooks.com and B2BExplorer.com. The e-commerce potential for LawBooks.com is enormous and the timing is right for a portal like B2Bexplorer.com," said internet.com chairman and CEO Alan M. Meckler. "We will continue to identify early stage Internet companies that have high quality content and the first-to-market advantage."
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 88 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.
Contact:
For internet.com Venture Fund II information visit http://www.internet.comvc.com or contact info@internet.comVC.com.
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.
