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.