CNET.com is a media news site founded in 1994 by Halsey Minor and Shelby Bonnie. It was the flagship brand of CNET Networks. In 2008, CNET Networks was acquired by CBS Interactive.
CNET provides product reviews and prices, software downloads, and tech news. The editor in chief is Scott Ard.
Cnet Technology Inc. is principally engaged in the research, development, manufacture and distribution of computer network systems, as well as the provision of related after sale services and consulting services. The Company provides ultra high speed and high speed Ethernet network cards and converters, smart high speed and ultra high speed Ethernet converters, wireless network cards, wireless network routers and access points, modems, multifunction routers, asymmetric digital subscriber line (ADSL) modems and ADSL routers, as well as other network peripheral connection equipment, among others.
Throughout 1999 CNET added e-commerce capabilities through acquisitions. Following the acquisition of NetVentures Inc. and its ShopBuilder online store creation system for $12 million, CNET launched a store-hosting service for small and mid-sized merchants at . The service helped resellers of unbranded computer systems build their own online stores and benefit from CNET's marketing clout.
CNET also acquired KillerApp Corp. in March 1999 for $46 million. The company owned and operated KillerApp.com, an e-commerce web site that provided online comparison shopping services for computers and consumer electronics products.
Other acquisitions in 1999 included Sumo Inc., an Internet service directory that listed Internet service providers (ISPs) and web hosting services, for $29 million in stock, and Internet search firm SavvySearch Ltd. for $22 million. Both acquisitions improved CNET's search engine capabilities.
During 1999 CNET formed an alliance with America Online to provide it with online computer buying guides. As part of the alliance CNET paid $14.5 million for the exclusive right to provide co-branded computer buying guides on America Online and CompuServe for two and one-half years and to be the exclusive provider of free-to-download software on AOL.com. An agreement with RealNetworks resulted in Snap.com being used as a search tool to locate audio and video files by users of RealPlayer G2 and on all of RealNetworks' sites.
CNET also increased its advertising and branding efforts in 1999. After beginning the year with an advertising budget for a national branding campaign estimated at $45 million, the company announced that it would spend $100 million on advertising to build CNET's brand and make it synonymous with technology. Such a commitment meant that the company was putting growth before profits. The ensuing campaign featured the tagline: "CNET: The source for computers and technology."
More Acquisitions, Mergers, and Alliances: 2000-2001
In March 2000 CNET, Inc. changed its name to CNET Networks, Inc. The company continued to be active in broadcast media, launching the weekly television program "News.com" on CNBC in the fall of 1999 as well as the CNET Investor Channel. In January 2000 CNET formed an alliance with radio station owner AMFM Inc. to create CNET Radio, the first all-tech radio format in the United States.
CNET made its largest acquisition to date in January 2000 when it acquired comparison-shopping site mySimon.com for $736 million in stock. MySimon.com was founded in April 1998 by Michael Yang and Yeogirl Yun and launched later in the year as a comparison shopping engine. After attempting to license its virtual learning agent (VLA) technology to web portals, mySimon.com refocused in 1999 to become a shopping destination. In mid-1999 the company launched a multimillion-dollar advertising campaign that featured a humorous character named Simon and the tagline, "The future of shopping is here." Following the acquisition, mySimon.com added product reviews and recommendations as well as more product categories. In the fourth quarter of 2000 mySimon.com generated more than half of CNET Networks' total leads to merchants, with more than half of those leads representing nontechnology products.
CNET Networks made an even larger acquisition in the second half of 2000 when it acquired Ziff Davis Media Inc. in a transaction valued at approximately $1.6 billion. The acquisition featured the merger of two leading technology portals, CNET and ZDNet. Following the acquisition CNET Networks became the eighth largest Internet property with 16.6 million unduplicated users, according to Media Metrix. In addition to gaining the web portal ZDNet.com, CNET also got Computer Shopper magazine, the SmartPlanet online service, and part ownership of Red Herring Communications. Japanese computer giant Softbank Corp., which owned half of Ziff Davis, owned 17 percent of the new company.
With an international presence in 25 countries, CNET Networks ranked among the top five international networks in terms of global footprint. In the fourth quarter of 2000 the company acquired the remaining interest in its joint venture with AsiaContent.com for $6 million to gain full ownership of seven CNET web sites in Asia. The company also formed a European sales network to improve cross-border marketing opportunities in nine European countries.
CNET's acquisitions boosted its revenue in 2000 to $264 million, compared with $112.3 million for 1999. Acquisition costs and interest expense resulted in a net loss of $484 million for the year, compared with net income of $416.9 million in 1999.
Noting that an economic slowdown was affecting the technology market, CNET lowered its revenue forecast for 2001 as early as February and announced that it would lay off 190 employees, or about 10 percent of its workforce. In April the company announced that it would acquire TechRepublic, an online destination for IT professionals, from technology research firm Gartner, Inc. for $23 million. The acquisition of TechRepublic added 1.5 million registered IT professionals to CNET Networks' base of 3.4 million professionals, which represented 66 percent of the IT professional market, according to Nielsen/NetRatings.
Reaching a broader audience of technology minded consumers, CNET teamed with Fortune magazine to co-produce two special issues of the magazine in 2001. Dubbed the Fortune/CNET Technology Review, the June and November 2001 issues of Fortune and a related web site provided a comprehensive technology resource that combined product reviews and information with articles about business trends and technology applications.
CNET altered its broadcast and broadband media strategy in the second half of 2001. The company ceased production of its weekly broadcast television show, "News.com," in September and announced that it would increase its emphasis on broadband and radio. CNET was a leading provider of broadband content on the Web, with some five million streams per month. The company broadcasted interviews with technology executives and opinion leaders on a daily basis at its CNET News.com site . It also posted video product reviews online at . In addition, the company's corporate production unit, CNET Media Productions, produced broadband product demonstrations and webcasts for corporate clients. Although CNET exited long-form television programming and discontinued the "News.com" television program, it continued to provide technology coverage for CNBC's other business programs.
Meanwhile, 2001 was proving to be a difficult year financially. The company reported a pro forma loss of $218.1 million for the second quarter and announced that it would lay off an additional 285 employees, or about 15 percent of its staff. Losses in the third quarter were even greater, reaching $1.4 billion. In spite of the loss, company Chairman and CEO Shelby Bonnie appeared confident about the future, stating, "Our business performed very well in a challenging business climate. We stabilized our revenues while significantly reducing our long-term cost structure, and we have more than sufficient financial resources to meet our capital needs for the foreseeable future."
For all of 2001 CNET Networks reported net revenue of $285.8 million, down from 2000 pro forma net revenue of $427.7 million. The company's adjusted loss, excluding special and noncash items, was $77 million, compared with pro forma adjusted income of $22.4 million in 2000. In January 2002 the company predicted that its first quarter revenue would be 10 to 15 percent below that of the previous quarter, indicating that 2002 would be another difficult year for CNET Networks. The lowered revenue forecast was due in general to the economic slowdown and more specifically to a depressed market for technology advertising.
Principal Divisions: Media; International Media; Channel Services; mySimon.
Principal Competitors: International Data Group Inc. (IDG); INT Media Group, Inc.; United Business Media PLC (U.K.); Ziff Davis Media Inc.
OVERALL
Beta: 1.49
Market Cap (Mil.): NT$626.59
Shares Outstanding (Mil.): 80.33
Annual Dividend: --
Yield (%): --
FINANCIALS
5306.TWO Industry Sector
P/E (TTM): -- 16.44 19.30
EPS (TTM): 31.40 -- --
ROI: -8.22 5.53 16.14
ROE: -8.43 6.84 17.81
Statistics:
Public Company
Incorporated: 1992 as CNET, Inc.
Employees: 1,900
Sales: $285.8 million (2001)
Stock Exchanges: NASDAQ
Ticker Symbol: CNET
NAIC: 514191 On-Line Information Services
Key Dates:
1992: CNET, Inc. is founded by 27-year-old Halsey Minor as a source of technology information.
1994: The company's fledgling cable channel receives a significant investment from Microsoft cofounder Paul Allen.
1995: USA Networks becomes a minority investor in CNET and shows its program, "C\NET Central," on its USA and Sci-Fi cable channels.
1996: CNET becomes a public company.
1997: CNET introduces Snap! Online, an Internet portal and search service.
1999: CNET launches a $100 million national brand-building campaign.
2000: CNET debuts CNET Radio, acquires comparative shopper mySimon.com, and changes its name to CNET Networks, Inc.; CNET acquires Ziff Davis Media Inc. for $1.6 billion--the acquisition includes ZDNet, Computer Shopper magazine, the SmartPlanet online service, and part ownership of Red Herring Communications.
2001: CNET acquires TechRepublic Inc., an online destination for information technology (IT) professionals, from Gartner, Inc.
Name Age Since Current Position
Wang, Jiongfen 2008 Chairman of the Board
Huang, Yufeng 2008 Manager-Finance & Accounting
Zhao, Shijie 2008 General Manager, Director
Liao, Yuanxue 1999 Deputy General Manager
Chen, Yiren 2009 Director
Huang, Yuting 2008 Independent Director
Jian, Jincheng 2008 Independent Director
COMPANY ADDRESS
Cnet Technology Inc
No15,Park Avenue 2
Science-Based Industrial Park
Hsinchu
CNET provides product reviews and prices, software downloads, and tech news. The editor in chief is Scott Ard.
Cnet Technology Inc. is principally engaged in the research, development, manufacture and distribution of computer network systems, as well as the provision of related after sale services and consulting services. The Company provides ultra high speed and high speed Ethernet network cards and converters, smart high speed and ultra high speed Ethernet converters, wireless network cards, wireless network routers and access points, modems, multifunction routers, asymmetric digital subscriber line (ADSL) modems and ADSL routers, as well as other network peripheral connection equipment, among others.
Throughout 1999 CNET added e-commerce capabilities through acquisitions. Following the acquisition of NetVentures Inc. and its ShopBuilder online store creation system for $12 million, CNET launched a store-hosting service for small and mid-sized merchants at . The service helped resellers of unbranded computer systems build their own online stores and benefit from CNET's marketing clout.
CNET also acquired KillerApp Corp. in March 1999 for $46 million. The company owned and operated KillerApp.com, an e-commerce web site that provided online comparison shopping services for computers and consumer electronics products.
Other acquisitions in 1999 included Sumo Inc., an Internet service directory that listed Internet service providers (ISPs) and web hosting services, for $29 million in stock, and Internet search firm SavvySearch Ltd. for $22 million. Both acquisitions improved CNET's search engine capabilities.
During 1999 CNET formed an alliance with America Online to provide it with online computer buying guides. As part of the alliance CNET paid $14.5 million for the exclusive right to provide co-branded computer buying guides on America Online and CompuServe for two and one-half years and to be the exclusive provider of free-to-download software on AOL.com. An agreement with RealNetworks resulted in Snap.com being used as a search tool to locate audio and video files by users of RealPlayer G2 and on all of RealNetworks' sites.
CNET also increased its advertising and branding efforts in 1999. After beginning the year with an advertising budget for a national branding campaign estimated at $45 million, the company announced that it would spend $100 million on advertising to build CNET's brand and make it synonymous with technology. Such a commitment meant that the company was putting growth before profits. The ensuing campaign featured the tagline: "CNET: The source for computers and technology."
More Acquisitions, Mergers, and Alliances: 2000-2001
In March 2000 CNET, Inc. changed its name to CNET Networks, Inc. The company continued to be active in broadcast media, launching the weekly television program "News.com" on CNBC in the fall of 1999 as well as the CNET Investor Channel. In January 2000 CNET formed an alliance with radio station owner AMFM Inc. to create CNET Radio, the first all-tech radio format in the United States.
CNET made its largest acquisition to date in January 2000 when it acquired comparison-shopping site mySimon.com for $736 million in stock. MySimon.com was founded in April 1998 by Michael Yang and Yeogirl Yun and launched later in the year as a comparison shopping engine. After attempting to license its virtual learning agent (VLA) technology to web portals, mySimon.com refocused in 1999 to become a shopping destination. In mid-1999 the company launched a multimillion-dollar advertising campaign that featured a humorous character named Simon and the tagline, "The future of shopping is here." Following the acquisition, mySimon.com added product reviews and recommendations as well as more product categories. In the fourth quarter of 2000 mySimon.com generated more than half of CNET Networks' total leads to merchants, with more than half of those leads representing nontechnology products.
CNET Networks made an even larger acquisition in the second half of 2000 when it acquired Ziff Davis Media Inc. in a transaction valued at approximately $1.6 billion. The acquisition featured the merger of two leading technology portals, CNET and ZDNet. Following the acquisition CNET Networks became the eighth largest Internet property with 16.6 million unduplicated users, according to Media Metrix. In addition to gaining the web portal ZDNet.com, CNET also got Computer Shopper magazine, the SmartPlanet online service, and part ownership of Red Herring Communications. Japanese computer giant Softbank Corp., which owned half of Ziff Davis, owned 17 percent of the new company.
With an international presence in 25 countries, CNET Networks ranked among the top five international networks in terms of global footprint. In the fourth quarter of 2000 the company acquired the remaining interest in its joint venture with AsiaContent.com for $6 million to gain full ownership of seven CNET web sites in Asia. The company also formed a European sales network to improve cross-border marketing opportunities in nine European countries.
CNET's acquisitions boosted its revenue in 2000 to $264 million, compared with $112.3 million for 1999. Acquisition costs and interest expense resulted in a net loss of $484 million for the year, compared with net income of $416.9 million in 1999.
Noting that an economic slowdown was affecting the technology market, CNET lowered its revenue forecast for 2001 as early as February and announced that it would lay off 190 employees, or about 10 percent of its workforce. In April the company announced that it would acquire TechRepublic, an online destination for IT professionals, from technology research firm Gartner, Inc. for $23 million. The acquisition of TechRepublic added 1.5 million registered IT professionals to CNET Networks' base of 3.4 million professionals, which represented 66 percent of the IT professional market, according to Nielsen/NetRatings.
Reaching a broader audience of technology minded consumers, CNET teamed with Fortune magazine to co-produce two special issues of the magazine in 2001. Dubbed the Fortune/CNET Technology Review, the June and November 2001 issues of Fortune and a related web site provided a comprehensive technology resource that combined product reviews and information with articles about business trends and technology applications.
CNET altered its broadcast and broadband media strategy in the second half of 2001. The company ceased production of its weekly broadcast television show, "News.com," in September and announced that it would increase its emphasis on broadband and radio. CNET was a leading provider of broadband content on the Web, with some five million streams per month. The company broadcasted interviews with technology executives and opinion leaders on a daily basis at its CNET News.com site . It also posted video product reviews online at . In addition, the company's corporate production unit, CNET Media Productions, produced broadband product demonstrations and webcasts for corporate clients. Although CNET exited long-form television programming and discontinued the "News.com" television program, it continued to provide technology coverage for CNBC's other business programs.
Meanwhile, 2001 was proving to be a difficult year financially. The company reported a pro forma loss of $218.1 million for the second quarter and announced that it would lay off an additional 285 employees, or about 15 percent of its staff. Losses in the third quarter were even greater, reaching $1.4 billion. In spite of the loss, company Chairman and CEO Shelby Bonnie appeared confident about the future, stating, "Our business performed very well in a challenging business climate. We stabilized our revenues while significantly reducing our long-term cost structure, and we have more than sufficient financial resources to meet our capital needs for the foreseeable future."
For all of 2001 CNET Networks reported net revenue of $285.8 million, down from 2000 pro forma net revenue of $427.7 million. The company's adjusted loss, excluding special and noncash items, was $77 million, compared with pro forma adjusted income of $22.4 million in 2000. In January 2002 the company predicted that its first quarter revenue would be 10 to 15 percent below that of the previous quarter, indicating that 2002 would be another difficult year for CNET Networks. The lowered revenue forecast was due in general to the economic slowdown and more specifically to a depressed market for technology advertising.
Principal Divisions: Media; International Media; Channel Services; mySimon.
Principal Competitors: International Data Group Inc. (IDG); INT Media Group, Inc.; United Business Media PLC (U.K.); Ziff Davis Media Inc.
OVERALL
Beta: 1.49
Market Cap (Mil.): NT$626.59
Shares Outstanding (Mil.): 80.33
Annual Dividend: --
Yield (%): --
FINANCIALS
5306.TWO Industry Sector
P/E (TTM): -- 16.44 19.30
EPS (TTM): 31.40 -- --
ROI: -8.22 5.53 16.14
ROE: -8.43 6.84 17.81
Statistics:
Public Company
Incorporated: 1992 as CNET, Inc.
Employees: 1,900
Sales: $285.8 million (2001)
Stock Exchanges: NASDAQ
Ticker Symbol: CNET
NAIC: 514191 On-Line Information Services
Key Dates:
1992: CNET, Inc. is founded by 27-year-old Halsey Minor as a source of technology information.
1994: The company's fledgling cable channel receives a significant investment from Microsoft cofounder Paul Allen.
1995: USA Networks becomes a minority investor in CNET and shows its program, "C\NET Central," on its USA and Sci-Fi cable channels.
1996: CNET becomes a public company.
1997: CNET introduces Snap! Online, an Internet portal and search service.
1999: CNET launches a $100 million national brand-building campaign.
2000: CNET debuts CNET Radio, acquires comparative shopper mySimon.com, and changes its name to CNET Networks, Inc.; CNET acquires Ziff Davis Media Inc. for $1.6 billion--the acquisition includes ZDNet, Computer Shopper magazine, the SmartPlanet online service, and part ownership of Red Herring Communications.
2001: CNET acquires TechRepublic Inc., an online destination for information technology (IT) professionals, from Gartner, Inc.
Name Age Since Current Position
Wang, Jiongfen 2008 Chairman of the Board
Huang, Yufeng 2008 Manager-Finance & Accounting
Zhao, Shijie 2008 General Manager, Director
Liao, Yuanxue 1999 Deputy General Manager
Chen, Yiren 2009 Director
Huang, Yuting 2008 Independent Director
Jian, Jincheng 2008 Independent Director
COMPANY ADDRESS
Cnet Technology Inc
No15,Park Avenue 2
Science-Based Industrial Park
Hsinchu