RealTime IT News

Go2Net Buys FreeYellow.com

Go2Net Inc. Tuesday bought free Web hosting and community building site FreeYellow.com for $19.5 million in stock and cash.

The deal bolsters Go2Net's (GNET) product offerings in the small business commerce and services sector, which includes HyperMart, Virtual Avenue and Authorize.Net.

Go2Net, home to a large conglomeration of small-to-medium-sized businesses, benefits from HyperMart's and Virtual Avenue's hosting of more than 560,000 member businesses. Go2Net boasts a growth rate of more than 1,500 businesses daily. Its Authorize.Net site currently has more than 47,000 online merchants and accrues more than 3,000 merchants per month.

"FreeYellow.com's site-building technologies add an important element to the business services we provide, enabling our small and medium-sized businesses to easily build their own sites via the Go2Net network," said Russell C. Horowitz, Go2Net's chief executive officer.