John Ruljancich, Investor Relations Manager, Go2Net, Inc.
Phone: (206) 447-1595 Email: johnr@go2net.com

Go2Net Reports First Quarter Financial Results
First Quarter Pro Forma Income of $.16 Per Share, 439% Revenue Growth over Comparable Period of Previous Fiscal Year

SEATTLE, January 18, 2000 - Go2Net, Inc. (Nasdaq: GNET), one of the Internet's leading networks (http://www.go2net.com/), today announced operating results for the first fiscal quarter ended December 31, 1999. Revenue for the quarter ended December 31, 1999 was $14,002,230, representing an increase of 439% from the comparable quarter for the previous fiscal year, and an increase of 43% from the previous quarter ended September 30, 1999.

For the quarter, the company reported pro forma net income of $7,273,847, or $0.16 per share, before federal income tax benefit and excluding amortization of intangibles and non-cash stock compensation expense. This compares to a pro forma net loss of $21,650, or $0.00 per share, excluding non-cash stock compensation and merger-related expenses, for the comparable quarter for the previous fiscal year.

Gross profit as a percentage of revenue increased to 83.2% for the quarter ended December 31, 1999, as compared to 81.9% for the previous quarter ended September 30, 1999. Pro forma operating income increased by 103% from the previous quarter ended September 30, 1999 and pro forma operating income as a percentage of revenue increased to 24.1% from 17.0% in the previous quarter ended September 30, 1999.

"During the recently completed quarter, Go2Net continued to make significant progress, both operationally and strategically," said Russell C. Horowitz, Go2Net's Chairman and Chief Executive Officer. "Go2Net's strong financial results continue to reflect the substantial operating leverage inherent in our business model. We again experienced strong growth in our three categories of focus: consumer services, business services, and enabling services. On the consumer services front, our destination sites such as MetaCrawler and Silicon Investor showed significant growth in usage during the quarter. In business services, the HyperMart Network has grown to be one of the largest communities of small businesses on the Web. In terms of enabling services, we added more than 12,400 merchants to our Authorize.Net transaction platform during the quarter, bringing the total to more than 58,000 merchants. We also made tremendous progress in expanding our technology licensing and customized portal offerings to strategic partners like Hasbro, Allegiance Telecom, and Broadband Partners.

"Go2Net's ongoing objective is to outperform in this industry. Our first-mover advantage in broadband portal services and small business services positions us to do just that in 2000 and beyond," Horowitz added. "We will continue to grow the company to execute against the many business opportunities we have and remain aggressive in our strategic activity. We will also become more aggressive in our marketing and branding efforts, both on a company-wide basis and within our specific categories of focus."

Overview of company's quarter:

Usage and audience growth; electronic commerce highlights

• Average daily page view traffic on the Go2Net Network grew to an average of 29.6 million page views per day in December 1999, compared to an average of 8.1 million page views per day in December 1998. This represents annual growth of approximately 265%.
• Added more than 12,400 online merchants to Authorize.Net (http://www.authorize.net/), a leading Internet payment authorization service for online businesses, bringing the total to more than 58,000 merchants.
• Go2Net's commerce platforms enabled more than $190 million in electronic commerce revenue during the quarter.

Acquisitions, strategic investments and partnerships

• Announced the formation of a new company, Broadband Partners, which is a joint venture among Go2Net, Vulcan Ventures Inc. and Charter Communications. Broadband Partners will provide Internet portal services initially to customers of Charter Communications and RCN Corporation, and potentially to other MSOs in the future. Go2Net will be the primary provider of the content, services and technologies to Broadband Partners and will own an equity stake of 19.9% in the venture.
• Announced a three-year agreement in principle with Hasbro, Inc. to develop Games.com, an Internet games portal, which will feature online versions of Hasbro's global games brands, such as Monopoly, Clue, Risk, Battleship, and many others from Milton Bradley, Parker Brothers, Wizards of the Coast, Micropose, Atari and Hasbro Interactive. Go2Net's Java-based multi-player games technology will be the platform for Games.com. Under the arrangement, Hasbro and Go2Net will collaborate in the development and operation of Games.com.
• Announced a three-year, $15 million agreement with Net2Phone, Inc., a leading provider of voice-enhanced Internet communication services, under which Go2Net will exclusively integrate Net2Phone's PC-to-phone technology and other communication services throughout the Go2Net Network, with specific emphasis on the HyperMart Network. Go2Net and Net2Phone will create a new unified messaging and communications center on the Go2Net Network, where users and online businesses will have the ability to send and receive voice mail, faxes, email, and telephone calls from a single, integrated Web-based environment.
• Announced a strategic alliance with Allegiance Telecom, Inc. to develop a customized Allegiance Internet portal, an online small business center and a Web-based platform for applications hosting. The customized portal will provide a comprehensive Internet start page for Allegiance customers, incorporating personalizable news, communication services, discussion and stock information. It will also provide access to Go2Net's branded finance, search and small business offerings, along with access to the Allegiance private-label small business center, which will provide an array of business resources and transaction services.
• Purchased FreeYellow.com (http://www.freeyellow.com), a leading provider of free Web site building tools and hosting services, for $19.5 million in Go2Net stock and cash.

Branding

• Announced the launch of a national branding campaign focused on major college and professional sports stadiums and arenas. The program kicked off during the college football season, with Go2Net's logo and Internet address appearing prominently on video boards and other locations throughout 13 major college football stadiums. Go2Net's branding efforts have also been extended to include home games of the Seattle Seahawks National Football League team, and also include the Portland Trail Blazers National Basketball Association team.

Advertiser growth

• Increased the number of Go2Net's advertisers to 530 as of December 31, 1999 from 290 advertisers for the comparable period in the previous fiscal year.

Product development

• Launched Custom Mail free email services on Silicon Investor (http://www.siliconinvestor.com/), MetaCrawler (http://www.metacrawler.com/) and the HyperMart Network (http://www.hypermart.net/). Developed in collaboration with CommTouch Software, Ltd., the Custom Mail solution allows all registered Silicon Investor, MetaCrawler, and HyperMart Network users to sign up for free, personalized Silicon Investor, MetaCrawler, or HyperMart email accounts.
• Introduced a series of product enhancements to Silicon Investor, including free real-time quotes, ignore user and stock screener capabilities, along with customized charting from IQC.com, which Go2Net acquired in May 1999.

Team additions

• Expanded Go2Net's employee base to 325 employees as of December 31, 1999, including a number of key management hires.

About Go2Net, Inc.
Go2Net (http://www.go2net.com/) is one of the Internet's leading networks, providing consumer services, business services, and enabling services. The company offers through the World Wide Web a network of branded properties and aggregated content in the categories of search and directory, personal finance, multi-player games, small business services and ecommerce solutions. The company also develops Internet technologies for its own network and for license to strategic partners. The Go2Net Network is home to many of the Internet's leading vertical destinations, including: MetaCrawler, Silicon Investor, the HyperMart Network, PlaySite, Dogpile and 100hot.

This announcement contains forward-looking statements that involve risks and uncertainties, including those relating to the company's ability to grow its user and advertiser base. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the company's limited operating history, the competitive environment in which the company competes, the early stage of the Web as an advertising and electronic commerce medium, the company's dependence on advertising, sponsorship and commerce revenues, the company's dependence on strategic relationships to drive traffic to its Web sites, consumer acceptance of the company's new products and services, the company's ability to develop and integrate new technologies and services into its existing services and into new platforms, such as broadband, and the increased use of the Web for commerce. More information about the potential factors that could affect the company's business and financial results is included in the company's Annual Report on Form 10-K for the year ended September 30, 1999, which is on file with the Securities and Exchange Commission.

	Three Months Ended
	December 31, 1999	December 31, 1998
Revenue	$14,002,230	$2,600,040
Cost of revenue	2,356,691	688,092
Gross profit	11,645,539	1,911,948
Operating expenses:
Sales and marketing	3,587,914	920,883
General and administrative	3,314,984	733,561
Product development	1,365,915	394,926
Total operating expenses	8,268,816	2,049,370
Income/(Loss) from operations	3,376,723	(137,422)
Interest income, net	3,897,124	115,772
Pro Forma Income/(Loss)	$7,273,847	$(21,650)
Diluted Pro Forma Income/(Loss) per common share (2)	$0.16	$(0.00)
Shares used in computing diluted pro forma income/(loss) per common share (2)	46,859,380	29,383,388

	Three Months Ended
	December 31, 1999	December 31, 1998
Pro forma income/(loss)	$7,273,847	$(21,650)
Merger related costs	-	650,257
Stock compensation expense	2,689	70,947
Amortization of intangibles
Impairment loss	19,425,479	-
Federal income tax benefit	(847,907)	-
Net loss applicable to common shareholders	$(11,306,414	$(742,854)

(1) These financial statements exclude federal income tax benefit, stock compensation, merger-related expenses and amortization of intangibles, which are summarized in the following table. They do not purport to be financial statements prepared in accordance with Generally Accepted Accounting Principles. The following table reconciles the pro forma net income/(loss) excluding these charges to net loss for the periods presented.

(2) Pro forma basic net income/(loss) per share is $0.16 and $(0.00) for the three months ended December 31, 1999, and December 31, 1998 respectively.

	December 31, 1999	September 30, 1999
Assets
Current assets:
Cash and cash equivalents	$66,364,315	$66,786,513
Short-term investments	170,591,000	151,000,000
Trade accounts receivables, net	6,887,981	5,712,977
Other accounts receivable	3,609,120	3,818,410
Deferred Tax asset, net	2,374,484	2,144,637
Prepaid expenses and other current assets	666,128	750,848
Total current assets	250,493,028	230,213,385
Property and equipment, net	3,879,449	3,254,594
Other assets	1,093,764	1,164,553
Long-term investments	44,659,793	53,771,208
Investment in affiliates	92,151,301	21,676,129
Deposits	250,000	250,000
Intangibles, net	198,981,373	197,929,199
Total assets	$591,508,708	$508,259,068
Liabilities and stockholders' equity
Current liabilities:
Accounts payable	$878,616	$1,253,843
Accrued expenses	2,989,570	3,139,409
Accrued compensation and benefits	938,275	2,425,013
Deferred revenue	6,688,740	3,072,755
Total current liabilities	11,495,201	9,891,020
Commitments and contingencies	-	-
Stockholders' equity:
Preferred stock	450,872,103	450,927,510
Common stock	67,748,463	42,721,806
Accumulated other comprehensive income	42,938,726	2,500,337
Accumulated deficit	(26,524,699)	(15,218,278)
Total stockholders' equity	541,034,593	480,931,375
Total liabilities and stockholders' equity	$591,508,708	$508,259,068