INTERNET.COM VENTURE FUND II ANNOUNCES INVESTMENT IN EXAMWEB
((New York, NY-February 3, 2000)-- internet.com Venture Fund II, part of the affiliated venture arm of internet.com Corporation (Nasdaq: INTM), today announced the closing of an investment in ExamWeb (http://www.examweb.com). The investment is 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 25 Internet properties to date.
ExamWeb is an Internet-based education company offering users exam preparation and continuing education courses via online interactive software. Currently, ExamWeb prepares candidates for the LSAT, CFA, the Real Estate Exam, the MBE, The California Bar and the Patent Bar, among others.
"ExamWeb has developed a solid foundation in the interactive education market and we look forward to providing them with the funding and expertise to take them even further," said internet.com chairman and CEO Alan M. Meckler.
"This is a great partnership for ExamWeb. internet.com's involvement will position us to aggressively pursue our growth strategy and will enable us to offer more online courses in a short amount of time," said ExamWeb founder Matt Harris.
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. For further information about internet.com Venture Capital Funds visit http://www.internet.comvc.com.
internet.com Corporation (http://www.internet.com), based in New York, NY, 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 94 Web sites, 72 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. In addition, internet.com with its related internet.com Venture Fund I and Venture Fund II is an investor in a growing number of business-to-business content sites and related Internet media properties.
"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 internet.com's reports filed with the Securities and Exchange Commission pursuant to the Securities Act of 1933 and the Securities Exchange Act of 1934. The forward looking statements included herein are made as of the date of this press release, and internet.com assumes no obligation to update the forward looking statements after the date hereof.
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