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INTERNET.COM VENTURE FUND II ANNOUNCES INVESTMENTS IN TAIWAN AND LATIN AMERICAN INTERNET VENTURES
(Darien, CT--December 28, 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 LatinVision.com and Taiwan-based Gourmetnet.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 22 Internet properties to date.LatinVision.com aims to be the leading Internet business network in Latin America. By utilizing the Internet, LatinVision.com helps to connect Latin American and U.S. businesses seeking to expand into these markets. Through its site, LatinVision.com provides access to local business directories, local news and information, business travel services as well as an e-commerce marketplace. LatinVision.com is published in English, Spanish and Portuguese.
Gourmetnet.com is a leading Web site that offers comprehensive gourmet-related information for China. The content is dedicated to the gourmet lifestyle covering gourmet celebrities, restaurant information, reviews, recipes, wines and drinks and other related business-to-business and business-to-consumer e-commerce services and information. The site is in the Chinese language.
"We believe LatinVision.com and Gourmetnet.com have the potential to be very significant Web plays in the international business-to-business and business-to-consumer Internet markets," said Alan M. Meckler. "internet.com, through our affiliated venture arm, will continue to seek out opportunities in early-stage vertical content Web sites that are well positioned for global growth."
Gourmetnet.com is the first Taiwan investment for internet.com Venture Fund II. Other international investments for Fund II include the UK-based the-sticks.com and Jinvestor.com, a financial site based in Japan.
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 added benefit of being a public operating company in the Internet space that also extends value to its stockholders by having a an 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 89 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.
