Dan Coleman or John Ruljancich
Investor Relations
Go2Net, Inc.
(206) 447-1595
danc@go2net.com; johnr@go2net.com

Go2Net Reports Third Quarter Financial Results
Third Quarter Pro Forma Income of $0.22 Per Share, 302% Revenue Growth over Comparable Period of Previous Fiscal Year

SEATTLE, July 17, 2000 - Go2Net, Inc. (Nasdaq: GNET), one of the Internet's leading providers of applications and technologies, today announced operating results for the fiscal quarter ended June 30, 2000. Revenue for the quarter ended June 30, 2000 was $23,015,093, representing an increase of 302% from the comparable quarter for the previous fiscal year, and an increase of 23% from the previous quarter ended March 31, 2000.

For the quarter, the company reported pro forma net income of $10,082,701, or $0.22 per share, excluding amortization of intangibles and stock compensation. This compares to pro forma net income of $3,057,258 or $.07 per share, excluding the effects of a one-time, non-cash preferred stock dividend, for the comparable quarter of the previous fiscal year.

Gross profit as a percentage of revenue increased to 84.2% for the quarter ended June 30, 2000, as compared to 79.0% from the comparable period of the previous fiscal year. Pro forma operating income increased by 929% from the comparable period of the previous fiscal year, and pro forma operating income as a percentage of revenue increased to 29.2% from 11.4% for the comparable period of the previous fiscal year.

"This was another super quarter for Go2Net, as we posted our sixth consecutive quarter of increasing operating profits," said Russell C. Horowitz, Go2Net Chairman and Chief Executive Officer. "We grew revenue significantly and increased our operating profit margins, while continuing to invest heavily in our infrastructure and expanding our product offerings."

Horowitz continued: "Go2Net is uniquely positioned to capitalize on the dramatic growth of broadband. By 2004, industry sources estimate that the number of Internet-enabled devices worldwide will increase ten-fold to more than 2 billion. Of these 2 billion devices, we believe more than one-third will be broadband-enabled, including PCs, TVs, and wireless. To address this fast-growing market, Go2Net will continue to leverage our core competencies to seamlessly deliver our applications and infrastructure technologies across all broadband devices."

John Keister, Go2Net President, added: "In the June quarter, Go2Net's continued focus on scalable, high-margin businesses led to tremendous progress across all operating metrics and revenue streams. We saw especially strong growth in licensing and transaction-based commerce, which now represent a majority of our revenue."

Overview of company's quarter:

Electronic commerce and usage highlights

• Go2Net's commerce platforms enabled more than $310 million in electronic commerce revenue during the quarter, up from $265 million in the March 2000 quarter and $190 million in the December 1999 quarter.
• Go2Net's Authorize.Net (http://www.authorize.net/), a leading global Internet payment processing platform for businesses, increased its merchant base to more than 82,000 by adding 12,000 new merchants during the quarter.
• Average daily page views on the Go2Net Network grew to 37.5 million in June 2000, compared to an average of 18.5 million page views per day in June 1999. This represents annual growth of 103%.
• Announced that membership in Go2Net's HyperMart Network (http://www.hypermart.net/) of small business Web hosting and e-business services has surpassed one million members.

• Announced a strategic alliance in which Go2Net and Vulcan Ventures led a $20 million investment in imandi.com, an industry leader in the rapidly growing reverse marketplace category. The agreement brings Go2Net a co-branded, reverse marketplace service, which will be integrated across the Go2Net Network, with emphasis on the HyperMart Network. The agreement also includes a multi-million dollar marketing and promotion component.
• Finalized an agreement in which Go2Net and Vulcan Ventures invested a total of $20 million in Sandbox.com, a leading provider of interactive sports and entertainment games. As part of the agreement, Sandbox will offer selected versions of its games through Go2Net's PlaySite (http://www.playsite.com/) and Silicon Investor (http://www.siliconinvestor.com/), while Go2Net will deploy selected Sandbox games in broadband versions of PlaySite. The agreement also includes a multi-million dollar marketing and promotion component, in which Sandbox.com will be prominently featured throughout the Go2Net Network.
• Announced an agreement in which Go2Net's Authorize.Net will provide First Savings Bank's merchants with a payment-processing platform for Internet credit and debit card transactions. First Savings Bank Merchant Division is one of the country's largest and fastest growing electronic transaction processors with more than 25,000 merchants and annualized processing volume of more than $1.5 billion.

• Increased the number of Go2Net's advertisers to 597 as of June 30, 2000, from 358 advertisers for the comparable period in the previous fiscal year.

• Added multi-currency processing, tax calculation and search engine submission services to Go2Net's Authorize.Net payment processing platform.
• Introduced a private-label portal offering to provide enterprises and service providers with a full set of customizable services including search, finance, communications, and commerce. The portal enables companies to integrate proprietary corporate content and applications with Go2Net's content and commerce services.
• Launched a new HyperMart Business Resource Center, featuring small business services and content from more than 20 business partners, to help small businesses grow online and to run their e-businesses more efficiently.
• Added several key new management hires during the quarter, including Rick Thompson, who joined Go2Net as Chief Financial Officer after a 12-plus year career at Microsoft Corporation, including a post as vice president of Microsoft's Hardware Division.

(1)

These financial statements exclude amortization of intangibles, merger expenses, stock compensation, cumulative change in accounting principle and non-cash preferred stock dividend, which are summarized in the following table. They do not purport to be financial statements prepared in accordance with Generally Accepted Accounting Principles. The cumulative change in accounting principle is the result of the Company adopting SAB101 in the current quarter. The following table reconciles the pro forma net income excluding these charges to net loss for the periods presented.

(2)

Pro forma basic net income per share is $0.32 and $0.12 for the three months ended June 30, 2000 and June 30, 1999, respectively.

Go2Net, Inc. Unaudited Reconciliation of Pro Forma Income to Net Loss
	Three Months Ended		Nine Months Ended
	June 30, 2000	June 30, 1999	June 30, 2000	June 30, 1999
Pro forma income	$10,082,701	$3,057,258	$25,746,051	$4,183,241
Merger related costs	-	-	-	650,257
Stock compensation expense	497	883,441	3,186	960,708
Amortization of intangibles	20,359,253	2,740,763	59,965,499	2,740,763
Cumulative change in accounting principle	-	-	488,748	-
Preferred stock dividend	-	107,000,447	-	159,930,733
Net loss applicable to common shareholders	$(10,277,049)	$(107,567,393)	$(34,711,382)	$(160,099,220)

Go2Net, Inc. Unaudited Condensed Consolidated Balance Sheets
	June 30, 2000	September 30, 1999
Assets
Current assets:
Cash and cash equivalents	$16,166,219	$66,786,513
Short-term investments	211,084,740	151,000,000
Trade accounts receivables, net	10,558,766	5,712,977
Other accounts receivable	2,686,331	3,818,410
Deferred tax asset, net	8,889,952	2,144,637
Prepaid expenses and other current assets	1,517,651	750,848
Total current assets	250,903,659	230,213,385
Property and equipment, net	11,566,978	3,254,594
Other assets	1,216,492	1,164,553
Long-term investments	55,773,858	53,771,208
Other long-term investments	98,917,725	21,676,129
Deposits	200,000	250,000
Intangibles, net	163,782,232	197,929,199
Total assets	$582,360,944	$508,259,068
Liabilities and stockholders' equity
Current liabilities:
Accounts payable	2,298,997	1,253,843
Accrued expenses	4,622,186	3,139,409
Accrued compensation and benefits	1,359,698	2,425,013
Deferred revenue	19,679,077	3,072,755
Total current liabilities	27,959,958	9,891,020
Deferred revenue	5,370,343	530,796
Deferred tax liability	26,213,534	16,905,877
Commitments and contingencies	-	-
Stockholders' equity:
Preferred stock	450,832,439	450,927,510
Common stock	93,536,026	42,721,806
Accumulated other comprehensive income	28,378,305	2,500,337
Accumulated deficit	(49,929,661)	(15,218,278)
Total stockholders' equity	522,817,109	480,931,375
Total liabilities and stockholders' equity	$582,360,944	$508,259,068

Go2Net, Inc. Unaudited Condensed Consolidated Statements of Operations
	Three Months Ended		Nine Months Ended
	June 30, 2000	June 30, 1999	June 30, 2000	June 30, 1999
Revenue	$23,015,093	$5,726,004	$54,994,862	$12,651,287
Cost of revenue	3,630,110	1,205,310	9,002,838	2,832,068
Gross Profit	19,384,983	4,520,694	45,992,024	9,819,219
Operating expenses:
Sales and marketing	6,123,228	1,481,248	15,287,451	3,618,551
General and administrative	3,799,486	2,634,633	10,028,451	4,658,625
Product development	2,737,940	634,711	6,277,352	1,452,403
Merger related costs	-	-	-	650,257
Amortization of intangibles	20,359,253	2,740,763	59,965,499	2,740,763
Total operating expenses	33,019,907	7,491,355	91,558,753	13,120,599
Loss from operations	(13,634,924)	(2,970,661)	(45,566,729)	(3,301,380)
Interest income, net	4,298,039	2,422,248	12,284,259	3,151,426
Loss before taxes	(9,336,885)	(548,413)	(33,282,470)	(149,954)
Income tax expense	940,164	18,533	940,164	18,533
Cumulative change in accounting principle	-	-	488,748	-
Net loss	(10,277,049)	(566,946	(34,711,382)	(168,487)
Preferred stock dividend	-	107,000,447	-	159,930,733
Net loss applicable to common shareholders	$(10,277,049)	$(107,567,393)	$(34,711,382)	$(160,099,220)
Basic and diluted net loss per common share	$ (0.33)	$ (4.07)	$ (1.13)	$ (6.23)
Shares used in computing basic and diluted net loss per common share	31,290,624	26,401,610	30,668,756	25,668,028
Diluted pro forma income per common share before nonrecurring charges and non cash charges	$ 0.22	$ 0.07	$ 0.55	$ 0.12
Shares used in computing diluted pro forma income per common share	46,197,775	41,050,743	46,829,664	36,413,782

About Go2Net, Inc.

Go2Net (http://www.go2net.com/) is one of the Internet's leading providers of Internet applications and infrastructure technologies for both narrowband and broadband devices. The Go2Net Network features many of the Internet's leading destinations, including MetaCrawler, Silicon Investor, the HyperMart Network, PlaySite, Dogpile and 100Hot. Go2Net's HyperMart Network offers small business hosting and e-commerce solutions to more than one million members worldwide. Go2Net's Authorize.Net payment processing platform enables more than 80,000 merchants to securely process transactions online. Go2Net licenses its applications and technologies to strategic partners such as Hasbro, National Discount Brokers, Allegiance Telecom and Digeo Broadband, a joint venture among Go2Net, Charter Communications and Vulcan Ventures.