SAN FRANCISCO, Feb. 11, 2000 - Red Herring Communications, a leading provider of business information and high-level industry events, today announced that it has received $28 million in equity funding from an investment led by Broadview Capital Partners (BCP), a late-stage private equity fund, with additional participation from ZDNet (NYSE: ZDZ), which operates a leading Web destination. The money will be used to accelerate the development of Redherring.com, including an aggressive site build-out to provide an ever-richer set of tools to meet users' critical business and information needs.

"Last year was a banner year," said Christopher J. Alden, CEO and editorial director. "We experienced unprecedented growth in all divisions, and now we want to capitalize on our position of strength and expedite our further expansion."

In 1999 Red Herring Communications enjoyed over a 123% growth in revenues and 115% growth in staff. Red Herring magazine and Red Herring Events are profitable, fast-growing divisions that continue to expand both domestically and internationally; paid circulation of the magazine doubled to over 200,000 and all 1999 industry conferences were sell-outs. Redherring.com expanded its editorial staff to 24, increased its daily editorial output by 450%, and grew "Catch of the Day," one of the industry's most popular and fastest growing newsletters, to more than 270,000 subscribers. Redherring.com currently delivers more than 7.5 million page views per month.

The equity funding provided by Broadview Capital Partners and ZDNet will be used to develop Redherring.com as the leading and most comprehensive Web destination for technology focused business and investment insight and services. To achieve this goal, Red Herring will be aggressively expanding its coverage, adding engaging new features and analytical tools and continuing to enhance the Redherring.com staff and technology infrastructure.

About Red Herring Communications

Red Herring Communications, a privately held San Francisco-based company, is a fully integrated network of media properties connecting and enabling the technology empowered business builders and leaders, ideas and technologies that are shaping and reshaping business today. Red Herring magazine, Redherring.com, Red Herring TV and Red Herring Events are each a crucial conduit of information, analysis and opinion, between the vision of Silicon Valley and the power of corporate America, alongside the global business environment.