INTERNET.COM CLOSES $75 MILLION VENTURE FUND
(New York, NY - June 5, 2000)-- internet.com Corporation (Nasdaq: INTM), the Internet Industry Portal, today announced the formation of internet.com Venture Partners III LLC, dedicated to early stage investments in content Web sites. The Fund, which has received substantial institutional backing, closed on May 25, 2000. internet.com Corporation, of which Alan M. Meckler is chairman and CEO, will manage the Fund.
internet.com Corporation is also the portfolio manager of internet.com Venture Fund I LLC (April '99) and internet.com Venture Fund II LLC (November '99) and has made 33 investments to date, many of which have also received subsequent rounds of funding at increased valuations. AuctionRover.com, a Venture Fund I portfolio company, was acquired by GoTo.com (Nasdaq: GOTO).
internet.com Venture Funds I and II, and internet.com Venture Partners III were formed to invest in early-stage online content providers serving targeted business-to-business markets that follow the strategy of, but are not competitive to, internet.com. internet.com is an investor in all three funds. For additional information about the internet.com Funds and daily Internet venture capital news visit: http://www.internet.comvc.com.
About internet.com (http://www.internet.com)
Interested advertisers should contact Susan Leiterstein, Vice President and Publisher of internet.com, at [email protected] or (203) 662-2962. For e-commerce and licensing opportunities, contact David Arganbright, Vice President, Commerce and Licensing, at [email protected] or (203) 662-2858.
"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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