THREE INVESTMENTS ANNOUNCED BY INTERNET.COM VENTURE FUND I: TUTOR.COM, NETEQUIPMENT.COM AND MLX.COM ADDED TO EXPANDING PORTFOLIO(WESTPORT, CT - September 7, 1999) - internet.com Venture Fund I LLC today announced the closing of investments in Tutor.com, NetEquipment.com and MLX.com. These investments are part of internet.com Venture Fund I's expanding portfolio of early stage Internet investments.
Tutor.com seeks to become the leading community and vertical portal for tutoring and instruction services helping parents, students, and learners of all ages find and connect with an experienced and trusted tutor or expert for instruction in any subject or skill. Tutor.com is supported by a strategic marketing relationship with The Princeton Review.
NetEquipment.com's goal is to become the leading online exchange for commercial equipment where businesses can select, compare, purchase and sell equipment, select lease financing and arrange for shipping and transportation. The site is currently available in English and Chinese.
MLX.com maintains Manhattan's largest consumer-accessible database of apartment listings. MLX.com provides services for consumers who want to buy, sell or rent apartments and for residential real estate brokers who want to distribute their exclusives or access a listing service database of properties.
"All three sites have developed a solid foundation in very specific online service markets. We believe these ventures have the management, the vision and the first-mover position necessary to become category leaders," said internet.com chairman and CEO Alan M. Meckler. "We look forward to enabling these sites to capitalize on market opportunities that are relatively new to the Internet space."
internet.com Venture Fund I was 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 one of the fund's investors and is the portfolio manager.
internet.com Corporation (Nasdaq: INTM), the E-business and Internet Technology Network, includes 65 Web sites, 45 e-mail newsletters, 55 online discussion forums, and 52 moderated e-mail discussion lists for Internet industry and Internet technology professionals, Web developers and experienced Internet users.
"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.
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