Go2Net Acquires Internet Measurement Firm Web21
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InternetNews.com Associate Editor
The purchase is worth roughly $13.5 million in Go2Net stock. The transaction closed on Dec. 31, 1998. Terms of the acquisition call for Go2Net to issue about 385,000 of its common shares in exchange for all outstanding securities of Web21, which will become a wholly owned subsidiary of Go2Net. Web21 will retain its Palo Alto, Calif.-based headquarters and company founder Bert Fornaciari will continue in his role as president of Web21.
Four-year old Web21 provides a category-by-category ranking of Internet sites. The company compiles listings based on log file analysis derived from cache servers located at various points on the Internet. Web21's 100hot.com rankings identify top sites in areas including technology, entertainment, business, shopping, lifestyles games, sports and news.
"Web21 is a solid fit for Go2Net, bringing a valuable index and more than 1 million unique visitors per month to the Go2Net Network, along with positive revenue streams from a loyal base of advertisers and business partners," Horowitz said.
"Go2Net will work to maintain 100hot.com's position as the destination of choice for Web users interested in where their peers on the Internet are going."
"Go2Net Network users, advertisers and partners will benefit from the addition of Web21, while 100hot.com users will notice the increased attention Go2Net plans to direct toward the index," Horowitz added. "In the months ahead, we will enhance 100hot.com and develop ways to offer strong value and cross-promotion opportunities for current Web21 and Go2Net advertising clients and business partners. This will also extend across the individual sites that comprise the Go2Net Network."
Go2Net technology and community sites featuring personal finance, commerce, search and games. The companies properties include: Silicon Investor; StockSite; MetaCrawler; HyperMart; WebMarket and PlaySite.
Bert Fornaciari, Web21's founder and president, said 100hot.com and Go2Net will be able to capitalize on "tremendous synergies."
"Go2Net has established itself as home to many of the Internet's premier brands and we're pleased to be joining the Go2Net Network."