Online community theglobe.com Corp.
Wednesday acquired Web hosting services leader WebJump.com for $12.5 million in stock.
The companies said the figure could double pending future performance targets.
The acquisition bolsters theglobe.com’s (TGLO)
business-to-business Web offerings and expands the
company’s ability to reach Web-savvy Internet users, extending the
Network’s audience by more than 48 percent.
Launched in October 1998 by parent company Infonent.com Inc., WebJump hosts
more than 625,000 mostly business and professional sites and registers
approximately 1,500 new sites each day.
WebJump pioneers services that revolutionize the value proposition of the
free Web hosting space, including a sub-domain naming structure that allows
WebJump customers to host their Web site off a simple “business card
friendly” domain name as well as allowing users to host fully qualified
domains on the free service. WebJump was also the first to offer 25
megabytes of disc space and provides 24/7 live customer support within a
free hosting environment.
“Our network audience has doubled in size during the year through both
acquisitions and organic growth of theglobe.com brand”, said Todd
Krizelman, co-chief executive officer, theglobe.com.
“The acquisition of WebJump further extends our network as we now offer
premier business and professional free web hosting space on the Internet.
This deal complements our existing strategy as we work towards integrating
our group communication
products, such as globeclubs, within the business community.”
One of the world’s largest independent community sites, the globe.com
offers a network of e-mail clubs called globeclubs, as well as
state-of-the-art Web site building tools.