theglobe.com Files for IPO With Securities and Exchange Commission

NEW YORK, July 24 /PRNewswire/ -- theglobe.com, inc. announced today that it filed with the Securities and Exchange Commission a Registration Statement on Form S-1 relating to an initial public offering of up to $50 million of Common Stock of the Company, assuming exercise in full of an over-allotment option to be granted to the underwriters. All of the shares proposed to be sold are to be sold by the Company. Bear, Stearns & Co. Inc. will act as lead manager and Volpe Brown Whelan & Co. will act as co manager for the offering.

theglobe.com is a leading online community where users publish their own Web pages and interact with others having similar interests. Various free services are available on theglobe.com, including home page building, discussion forums, chat, e-mail and a marketplace where members can purchase products and services. theglobe.com also provides news, weather, movie and music reviews, multi-player gaming, horoscopes and personal ads.

A Registration Statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

CONTACT:  Esther Loewy Katz, Director of Communications of theglobe.com, 212-886-0803, fax, 212-367-8603, or esther@corp.theglobe.com.

SOURCE  theglobe.com, inc.