<PAGE>

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q

[X] Quarterly Report Pursuant to Section 13 or 15 (d) of the Securities Exchange
Act of 1934 for the quarterly period ended March 31, 2001

or

[ ] Transition Report Pursuant to Section 13 or 15 (d) of the Securities
Exchange Act of 1934 for the transition period from ____________ to ____________

                        Commission file number: 333-76331

                            INTERNET.COM CORPORATION
             (Exact name of Registrant as specified in its charter)

              DELAWARE                                  06-1542480
--------------------------------------     -------------------------------------
 (State or other jurisdiction of            (I.R.S. Employer Identification No.)
  incorporation or organization)

    23 OLD KINGS HIGHWAY SOUTH
       DARIEN, CONNECTICUT                                 06820
--------------------------------------     -------------------------------------
(Address of principal executive offices)                 (Zip Code)

                                 (203) 662-2800
              (Registrant's telephone number, including area code)

                                 NOT APPLICABLE
         (Former name, former address and former fiscal year, if changed
                               since last report)

Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the Registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days:
Yes  [X]   No  [  ]

The number of outstanding shares the Registrant's common stock, par value $.01
per share, as of May 7, 2001 was 25,333,077.


<PAGE>



                            INTERNET.COM CORPORATION


                                      INDEX





                                                                           PAGE
PART I.            Financial Information

Item 1.            Financial Statements

                   Consolidated Balance Sheets - December 31, 2000           3
                        and March 31, 2001

                   Consolidated Statements of Operations - For the
                   Three Months Ended March 31, 2000 and 2001                4

                   Consolidated Statements of Cash Flows - For the
                   Three Months Ended March 31, 2000 and 2001                5

                   Notes to Consolidated Financial Statements                6

Item 2.            Management's Discussion and Analysis of Financial
                        Condition and Results of Operations                 10

Item 3.            Quantitative and Qualitative Disclosures About           13
                        Market Risk

PART II.           Other Information                                        14

                   Signatures                                               15



                                       2
<PAGE>

PART I. FINANCIAL INFORMATION                       Item 1. Financial Statements


                            INTERNET.COM CORPORATION
                           CONSOLIDATED BALANCE SHEETS
                      DECEMBER 31, 2000 AND MARCH 31, 2001
               (IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS)

<TABLE>
<CAPTION>

                                                                                    DECEMBER 31,    MARCH 31,
                                                                                       2000            2001
                                                                                     ---------      ---------
                                                                                                   (UNAUDITED)
<S>                                                                                  <C>            <C>
                                     ASSETS

    Current assets:
       Cash and cash equivalents                                                     $  59,979      $  36,472
       Accounts receivable, net of allowances of $2,359 and $2,196, respectively        12,004         10,148
       Prepaid expenses and other                                                        1,964          2,032
                                                                                     ---------      ---------
             Total current assets                                                       73,947         48,652

    Property and equipment, net of accumulated depreciation of $2,787 and
      $3,483, respectively                                                               4,837          5,682
    Intangible assets, net of accumulated amortization of $35,282 and
      $44,480, respectively                                                             76,587         81,220
    Investments and other assets                                                         6,801          6,524
                                                                                     ---------      ---------
             Total assets                                                            $ 162,172      $ 142,078
                                                                                     =========      =========

                       LIABILITIES AND STOCKHOLDERS' EQUITY

    Current liabilities:
       Accounts payable                                                              $   2,163      $   3,572
       Accrued expenses                                                                  6,295          5,844
       Accrued Web site acquisition payments                                            10,988          4,327
       Deferred revenues                                                                 2,187          3,019
                                                                                     ---------      ---------
           Total current liabilities                                                    21,633         16,762

    Accrued Web site acquisition payments                                                1,236            546
    Deferred revenue                                                                     1,820          1,593
                                                                                     ---------      ---------
           Total liabilities                                                            24,689         18,901

    Commitments and contingencies                                                           --             --

    Stockholders' equity
       Preferred stock, $.01 par value, 4,000,000 shares authorized, no shares
             issued and outstanding                                                         --             --
       Commonstock, $.01 par value, 75,000,000 shares authorized, 25,323,357
             and 25,333,077 shares issued and outstanding at December 31, 2000
             and March 31, 2001, respectively                                              253            253
       Additional paid-in capital                                                      175,363        175,418
       Accumulated deficit                                                             (38,112)       (52,445)
       Accumulated other comprehensive income                                              (21)           (49)
                                                                                     ---------      ---------
          Total stockholders' equity                                                   137,483        123,177
                                                                                     ---------      ---------
          Total liabilities and stockholders' equity                                 $ 162,172      $ 142,078
                                                                                     =========      =========
</TABLE>

                 See notes to consolidated financial statements.


                                       3
<PAGE>

                            INTERNET.COM CORPORATION
                      CONSOLIDATED STATEMENTS OF OPERATIONS
               FOR THE THREE MONTHS ENDED MARCH 31, 2000 AND 2001
                                   (UNAUDITED)
                    (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)

<TABLE>
<CAPTION>

                                                                         THREE MONTHS ENDED
                                                                             MARCH 31,
                                                                       ----------------------
                                                                         2000          2001
                                                                       --------      --------
<S>                                                                    <C>           <C>
Revenues                                                               $  9,645      $ 12,013
Cost of revenues                                                          4,225         8,014
                                                                       --------      --------

Gross profit                                                              5,420         3,999
                                                                       --------      --------

Operating expenses:
     Advertising, promotion and selling                                   4,032         5,929
     General and administrative                                           1,921         2,714
     Depreciation                                                           381           696
     Amortization                                                         4,333         9,198
                                                                       --------      --------
Total operating expenses                                                 10,667        18,537
                                                                       --------      --------

Operating loss                                                           (5,247)      (14,538)

Minority interests                                                           46            48
Equity losses from international and venture fund investments, net          (91)         (557)
Interest income                                                           1,089           716
                                                                       --------      --------

Loss before income taxes                                                 (4,203)      (14,331)
Provision for income taxes                                                   45             2
                                                                       --------      --------
Net loss                                                               $ (4,248)     $(14,333)
                                                                       ========      ========

Basic and diluted net loss per share                                   $  (0.17)     $  (0.57)
                                                                       ========      ========
Weighted average number of common shares outstanding                     24,489        25,332
                                                                       ========      ========
</TABLE>


                 See notes to consolidated financial statements.



                                       4
<PAGE>

                            INTERNET.COM CORPORATION
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
               FOR THE THREE MONTHS ENDED MARCH 31, 2000 AND 2001
                                   (UNAUDITED)
                                 (IN THOUSANDS)

<TABLE>
<CAPTION>

                                                                                  THREE MONTHS ENDED
                                                                                       MARCH 31,
                                                                               ------------------------
                                                                                 2000           2001
                                                                               ---------      ---------
<S>                                                                            <C>            <C>
Cash flows from operating activities:
    Net loss                                                                   $  (4,248)     $ (14,333)
    Adjustments to reconcile net cash used in operating activities-
      Depreciation and amortization                                                4,714          9,894
      Provision for losses on accounts receivable                                    690            544
      Minority interests                                                             (46)           (48)
      Equity losses from international and venture fund investments                   91            557
    Changes in assets and liabilities -
      Accounts receivable, net                                                    (2,868)         1,983
      Prepaid expenses and other                                                    (585)            27
      Accounts payable and accrued expenses                                          234           (233)
      Deferred revenues                                                              263           (520)
                                                                               ---------      ---------
         Net cash used in operating activities                                    (1,755)        (2,129)
                                                                               ---------      ---------

Cash flows from investing activities:
    Additions to property and equipment                                           (1,394)        (1,338)
    Acquisitions of Web sites, related Internet media properties and other       (11,775)       (19,799)
    Investment in internet.com venture funds and other                              (585)          (297)
                                                                               ---------      ---------
         Net cash used in investing activities                                   (13,754)       (21,434)
                                                                               ---------      ---------

Cash flows from financing activities:
    Proceeds from issuance of common stock, net                                   98,341             --
    Proceeds from exercise of stock options                                           28             55
                                                                               ---------      ---------
         Net cash provided by financing activities                                98,369             55
                                                                               ---------      ---------

Effect of exchange rates on cash                                                      --              1
                                                                               ---------      ---------

Net increase (decrease) in cash and cash equivalents                              82,860        (23,507)
Cash and cash equivalents, beginning of period                                    17,943         59,979
                                                                               ---------      ---------
Cash and cash equivalents, end of period                                       $ 100,803      $  36,472
                                                                               =========      =========

Supplemental disclosures of cash flow:
    Cash paid for interest                                                     $      --      $      --
                                                                               =========      =========
    Cash paid for income taxes                                                 $      47      $      --
                                                                               =========      =========
</TABLE>

                 See notes to consolidated financial statements.


                                       5
<PAGE>

                            INTERNET.COM CORPORATION
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                 MARCH 31, 2001
                                   (UNAUDITED)
                      (IN THOUSANDS, EXCEPT PER SHARE DATA)

1.    THE COMPANY

    internet.com owns and operates a leading network of integrated
business-to-business Web sites and related Internet media properties focused
solely on the Internet industry and information technology. As of March 31,
2001, this network of Internet media properties consisted of 160 Web sites,
nearly 350 e-mail newsletters, over 400 online discussion forums and over 100
moderated e-mail discussion lists. The network is organized into 16 vertical
content channels to serve Internet users, which include Internet industry and
information technology professionals, Web developers and experienced Internet
users.

    Since all of internet.com's products and services relate to providing
Internet-related information to Internet industry and information technology
professionals, Web developers and experienced Internet users, its success is
dependent on the continued growth of the Internet and information technology.

2.    BASIS OF PRESENTATION

    The accompanying unaudited consolidated financial statements have been
prepared from the books and records of internet.com in accordance with generally
accepted accounting principles for interim financial information and with the
instructions to Form 10-Q. Accordingly, they do not include all of the
information and footnotes required by generally accepted accounting principles
for complete financial statements. It is suggested that these unaudited
consolidated financial statements be read in conjunction with the financial
statements and notes thereto for the year ended December 31, 2000 included in
internet.com's Form 10-K for the fiscal year ended December 31, 2000. In the
opinion of management, all adjustments considered necessary for a fair
presentation of the results for the interim periods presented have been
reflected in such consolidated financial statements.

    The consolidated financial statements include the accounts of internet.com
and its majority-owned and wholly-owned subsidiaries. All significant
intercompany transactions have been eliminated.

3.    RECENT ACCOUNTING PRONOUNCEMENTS

In June 1998, the Financial Accounting Standards Board ("FASB") issued Statement
of Financial Accounting Standards No. 133 ("SFAS No. 133"), "Accounting for
Derivative Instruments and Hedging Activities", subsequently amended by SFAS No.
138, which is effective for all fiscal quarters of fiscal years beginning after
June 15, 2000. SFAS No. 133 requires that all derivative financial instruments,
such as interest rate swap contracts and foreign exchange contracts, be
recognized in the financial statements and measured at fair value regardless of
the purpose or intent for holding them. Changes in the fair value of derivative
financial instruments are either recognized periodically in income or
stockholders' equity, depending on whether the derivative is being used to hedge
changes in fair value or cash flows. internet.com does not invest in any
derivative based financial instruments, therefore, the adoption of SFAS 133 did
not effect internet.com's financial statements.


                                       6
<PAGE>

4.    COMPUTATION OF NET LOSS PER SHARE

      Basic net loss per share is computed using the weighted average number of
common shares outstanding during the period. Dilutive net loss per share is
computed using the weighted average number of common and dilutive common
equivalent shares outstanding during the period. Common equivalent shares
consist of the incremental common shares issuable upon the exercise of stock
options. Common equivalent shares are excluded from the calculation if their
effect is anti-dilutive.

      Computations of basic and diluted net loss per share for the three months
ended March 31, 2000 and 2001 are as follows:

<TABLE>
<CAPTION>

                                                         THREE MONTHS ENDED
                                                              MARCH 31,
                                                       ----------------------
                                                         2000          2001
                                                       --------      --------

<S>                                                    <C>           <C>
  Numerator: Net loss                                  $ (4,248)     $(14,333)

  Denominator: Weighted average shares outstanding       24,489        25,332
                                                       --------      --------

  Basic and diluted net loss per share                 $  (0.17)     $  (0.57)
                                                       ========      ========
</TABLE>

5.    ACQUISITIONS OF ASSETS

    On March 5, 2001 internet.com completed its acquisition of Intermedia Group,
Inc., a Massachusetts corporation ("IMG"), pursuant to a stock purchase
agreement by internet.com and the shareholders IMG. IMG is an integrated
conference, consulting and event management firm specializing in emerging
information technology markets.

    A substantial majority of the purchase price has been recorded as an
intangible asset on a preliminary basis and is being amortized over an estimated
useful life of three years. The purchase accounting for this acquisition will be
finalized at a later date not to exceed one year from the closing date of the
transaction.

    The unaudited pro forma information below presents results of operations of
internet.com as if the acquisition of IMG occurred as of January 1, 2000. The
unaudited pro forma information is not necessarily indicative of the results of
operations of the combined companies had these events occurred at the beginning
of the periods presented nor is it indicative of future results.

<TABLE>
<CAPTION>

                                                    THREE MONTHS ENDED
                                                         MARCH 31,
                                                   ---------------------
                                                    2000         2001
                                                   -------     -------

<S>                                                <C>         <C>
          Revenues                                 $11,197     $12,897
                                                   =======     =======

          Net loss                                 $ 4,866     $15,469
                                                   =======     =======

          Basic and diluted net loss per share     $ (0.20)    $ (0.61)
                                                   =======     =======
</TABLE>


                                       7
<PAGE>

6.    SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES

      internet.com barters portions of unsold advertising impressions for equity
interests in certain of its venture funds' portfolio companies. Revenues related
to barter transactions were $360,000 and $297,000 for the three months ended
March 31, 2000 and 2001, respectively.

                                       8
<PAGE>



ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS

    The following discussion should be read in conjunction with our financial
statements and the accompanying notes which appear elsewhere in this filing.
Statements in this Form 10-Q which are not historical facts are "forward-looking
statements" that are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Such forward-looking statements
involve risks and uncertainties, which could cause actual results to differ
materially from those described in the forward-looking statements. The potential
risks and uncertainties address a variety of subjects including, for example:
the competitive environment in which internet.com competes; the unpredictability
of internet.com's future revenues (including those resulting from online
advertising on internet.com's Web sites and related Internet media properties),
expenses, cash flows and stock price; internet.com's investments in
international and venture investments; any material change in internet.com's
intellectual property rights; and continued growth and acceptance of the
Internet. For a more detailed discussion of such risks and uncertainties, refer
to internet.com's reports filed with the Securities and Exchange Commission
pursuant to the Securities Act of 1933 and the Securities Exchange Act of 1934.
The forward-looking statements included herein are made as of the date of this
Form 10-Q, and we are under no obligation to update the forward-looking
statements after the date hereof.

OVERVIEW

    We own and operate a network of Web sites, e-mail newsletters, online
discussion forums and moderated e-mail discussion lists focused solely on the
Internet industry and information technology ("IT"). As of March 31, 2001, our
network consisted of 16 vertical content channels that contain 160 Web sites,
nearly 350 e-mail newsletters, over 400 online discussion forums and over 100
moderated e-mail discussion lists focused solely on the Internet industry and
IT. During the month of March 2001, we delivered approximately 275 million page
views to over 3.7 million unique visitors and 35 million copies of our e-mail
newsletters to 5.5 million subscribers, and 38 million postings were generated
by 136,000 subscribers to our moderated e-mail discussion lists.

    We generate revenues from the following sources:

     o    advertising on our Web sites, e-mail newsletters, online discussion
          forums and moderated e-mail discussion lists;
     o    e-commerce agreements and offerings;
     o    permission based opt-in e-mail list rentals;
     o    seminars;
     o    paid subscription services;
     o    licensing of our editorial content and brands;
     o    online press release distribution services; and
     o    venture fund management fees

    We barter a portion of the unsold advertising impressions generated by our
network for advertising and promotion in media properties owned by Penton Media,
Inc. and other third parties. In addition, we barter portions of unsold
advertising impressions for equity interests in certain of our venture funds'
portfolio companies. Beginning in January 2000, in accordance with Emerging
Issues Task Force Issue No. 99-17, "Accounting for Advertising Barter
Transactions," we have prospectively recorded revenues from barter transactions
at their estimated fair values. Revenues and expenses related to barter
transactions were approximately $1.5 million and $798,000, respectively, for the
three months ended March 31, 2001.

    For the three months ended March 31, 2001, a majority of our revenues were
from the sale of advertising. We recognize advertising revenue ratably in the
period during which the advertising is displayed, provided that we have no
significant remaining obligations and collection of the resulting receivable is
probable. Such obligations typically include guarantees of a minimum number of
advertising impressions, or number of times an advertisement is displayed. We
use a direct sales force to sell advertising to companies and advertising
agencies.


                                       9
<PAGE>

    Our e-commerce agreements generally include advertising on our Web sites,
bounties for new customers or revenue sharing for sales made by the e-commerce
vendors as a result of links from our network, or in some cases combinations of
advertising, bounties and revenue sharing. We recognize the advertising
component of these agreements ratably in the period the advertising is
displayed, provided that no significant company obligations remain and
collection of the remaining receivable is probable. Generally, bounties and
revenue sharing agreements require a monthly minimum fee from internet.com's
customers. Revenues from these agreements are recognized in the month they are
earned.

    Through a third-party agent, we currently offer for rental our permission
based opt-in e-mail list names relating to 250 Internet-specific topics.
Members of our community of Internet users volunteer, or "opt in," to be
included on these lists to receive e-mail product offerings and information
relevant to their Internet and IT interests. Subscribers to these permission
based opt-in e-mail lists receive e-mail announcements of special offers
relating to each topic subscribed. We generate revenues on a per use basis
for the rental of our list names. Revenue from permission based opt-in list
rentals is recognized at the time of use by the renter.

    Our seminars generate revenues from attendee registrations, as well as from
advertiser and vendor sponsorships. Proceeds from the sale of attendee
registrations and advertiser and vendor sponsorships are deferred and recognized
as revenue at the time the seminars are held.

    Paid subscription services relate to customer subscriptions to our paid
e-mail newsletters and services, SearchEngineWatch, certain sections of
WALLSTREETRESEARCHNET, UNCLAIMEDDOMAINS, DOMAINBOOK.COM, ASPNEWS.COM and
ALERTIPO.COM, which are sold through our network and through affiliate
relationships. Revenue from subscriptions is recognized ratably over the
subscription period. Deferred revenues relate to the portion of collected
subscription fees, which has not yet been recognized as revenue.

    Our licensing agreements vary in structure, with internet.com generating
fixed fees, royalties or both for access to our editorial content and brands. We
generally license our editorial content and brands to offline and online media
companies. Revenues are recognized ratably over the period of the licensing
agreements.

    Online press release distribution revenues are generated through
INTERNETNEWSBUREAU.COM. We distribute e-mail based press releases to
approximately 5,000 registered journalists. Revenue from this service is
recorded on a per use basis and is recognized at the time of distribution.

    Venture fund management fees relate to management fees earned for the
day-to-day operation and general management of internet.com Venture Fund I LLC,
intnernet.com Venture Fund II LLC and internet.com Venture Partners III LLC.
Management fees are recognized ratably over the period in which services are
rendered. In addition, internet.com is entitled to 20% of the realized gains
earned from portfolio investments, which are recognized at the time of
distribution from the venture capital funds.

    From July 1995 through March 31, 2001, we made 74 acquisitions of Internet
media properties, consisting of 101 Web sites, 105 e-mail newsletters, 125
online discussion forums and 162 moderated e-mail discussion lists. We expect to
continue to pursue strategic acquisitions to strengthen our content offerings
and services. All of internet.com's acquisitions have been accounted for as
purchases. Consequently, as of March 31, 2001 we had $125.7 million of goodwill,
which is being amortized over three years.

    We have sustained losses on a quarterly and annual basis in the past. We
expect to incur operating losses for the foreseeable future and because costs
are largely fixed in the short term, we expect to be vulnerable to significant
fluctuations in operating losses if actual revenues fall below anticipated
levels. Furthermore, given the rapidly evolving nature of our business, our
operating results are difficult to forecast and period-to-period comparison of
our operating results will not be meaningful and should not be relied upon as
any indication of


                                       10
<PAGE>

future performance. Due to these and other factors, many of which are outside
our control, quarterly operating results may fluctuate significantly in the
future.

RESULTS OF OPERATIONS

THREE MONTHS ENDED MARCH 31, 2000 AND 2001

    REVENUES. Revenues were $9.6 million for the three months ended March 31,
2000 and $12.0 million for the three months ended March 31, 2001, representing
an increase of 25%. The majority of revenues relates to advertising on our Web
sites, e-mail newsletters, online discussion forums and moderated e-mail
discussion lists. While we anticipate that advertising revenues will continue to
represent a majority of our revenues for the foreseeable future, we
believe that revenues from e-commerce agreements and offerings, permission based
opt-in e-mail list rentals, seminars, paid subscription services, licensing,
online press release distribution services and venture fund management fees will
continue to expand and diversify our future revenue streams.

    COST OF REVENUES. Cost of revenues primarily consists of expenses
associated with editorial, communications infrastructure and Web site
hosting. Cost of revenues was $4.2 million for the three months ended March
31, 2000 and $8.0 million for the three months ended March 31, 2001,
representing an increase of 90%. This change was primarily due to the
increased hiring of editorial, technology and operations personnel, expenses
for freelance contributors, expenses related to office and workforce
redundancy costs. As a percentage of revenues, cost of revenues was 44% for
the three months ended March 31, 2000 and 67% for the three months ended
March 31, 2001. We anticipate that our cost of revenues will continue to
increase as we acquire additional Web sites and related media properties.


    ADVERTISING, PROMOTION AND SELLING. Advertising, promotion and selling
expenses primarily consist of costs related to sales and marketing staff, sales
commissions and promotion costs. Advertising, promotion and selling expenses
were $4.0 million for the three months ended March 31, 2000 and $5.9 million for
the three months ended March 31, 2001, representing a 47% increase. This
change was primarily due to increased hiring of advertising sales personnel,
the recording of barter advertising and workforce redundancy costs. As a
percentage of revenues, advertising, promotion and selling expenses were 42%
for the three months ended March 31, 2000 and 49% for the three months ended
March 31, 2001.

    GENERAL AND ADMINISTRATIVE. General and administrative expenses primarily
consist of salaries, professional fees, facilities costs and provisions for
losses on accounts receivable. General and administrative expenses were $1.9
million for the three months ended March 31, 2000 and $2.7 million for the three
months ended March 31, 2001, representing a 41% increase. This change was
primarily due to the hiring of additional personnel and increased provisions for
losses on accounts receivable. As a percentage of revenues, general and
administrative expenses were 20% for the three months ended March 31, 2000 and
23% for the three months ended March 31, 2001. We expect that our general and
administrative expenses will continue to increase in absolute dollars, but these
expenses are expected to decrease as a percentage of revenues.

    DEPRECIATION AND AMORTIZATION. Depreciation of property and equipment was
$381,000 for the three months ended March 31, 2000 and $696,000 for the three
months ended March 31, 2001, representing an 83% increase. As a percentage of
revenues, depreciation of property and equipment was 4% for the three months
ended March 31, 2000 and 6% for the three months ended March 31, 2001.
Amortization of intangibles was $4.3 million for the three months ended March
31, 2000 and $9.2 million for the three months ended March 31, 2001,
representing a 112% increase. This increase was primarily due to the
amortization of acquired Web sites and related Internet media properties. As a
percentage of revenues, amortization of intangibles was 45% for the three months
ended March 31, 2000 and 77% for the three months ended March 31, 2001. We
anticipate that depreciation and amortization will continue to increase as we
acquire additional Web sites and related media


                                       11
<PAGE>

properties. We also anticipate that our capital expenditures will increase as
needed to support current growth in operations, infrastructure and personnel.

    MINORITY INTERESTS. Minority interests represent the minority stockholders'
proportionate share of losses of internet.com's majority-owned consolidated
international subsidiaries.

    EQUITY LOSSES FROM INTERNATIONAL AND VENTURE FUND INVESTMENTS, NET. Equity
losses represent internet.com's net equity interests in investments in
international joint ventures and internet.com venture funds. Equity losses
from international joint ventures were $91,000 for the three months ended March
31, 2000 and $34,000 for the three months ended March 31, 2001. Equity losses
from the internet.com venture funds were $523,000 for the three months ended
March 31, 2001.

    INTEREST INCOME. Interest income was $1.1 million for the three months ended
March 31, 2000 and $716,000 for the three months ended March 31, 2001.

    PROVISION FOR INCOME TAXES. internet.com recorded a provision for income
taxes of $45,000 for the three months ended March 31, 2000 and $2,000 for the
three months ended March 31, 2001 related to foreign income tax liabilities
which were recorded based upon estimated foreign tax rates.

LIQUIDITY AND CAPITAL RESOURCES

    Since inception, we have funded operations primarily with cash from proceeds
from our initial and follow-on public equity offering, borrowings under a line
of credit and the capital contributions of members of internet.com LLC. On June
25, 1999, we completed our IPO of 3,400,000 shares of our common stock at $14.00
per share. Net proceeds to internet.com aggregated approximately $43.0 million.
On June 30, 1999, internet.com paid the outstanding balance under our line of
credit of approximately $5.0 million and terminated the line of credit. On
February 1, 2000, we completed our follow-on public offering of 3,750,000
shares of common stock priced at $60.00 per share, of which 1,750,000 shares
were sold by internet.com and 2,000,000 shares were sold by Penton Media,
Inc. Net proceeds received by internet.com from the follow-on offering were
approximately $98.3 million. internet.com did not receive any of the proceeds
from the sale of shares by Penton Media, Inc.

    As of March 31, 2001, internet.com had total current assets of $48.7 million
and total current liabilities of $16.8 million, or working capital of $31.9
million.

    Net cash used in operating activities was $1.8 million for the three months
ended March 31, 2000 and $2.1 million for the three months ended March 31, 2001.
Net cash used in operating activities for the period ended March 31, 2000 was
primarily a result of our net losses adjusted for depreciation and amortization,
offset by an increase in accounts receivable. Net cash used in operating
activities for the period ended March 31, 2001 was primarily a result of our
net losses adjusted for depreciation and amortization, offset by decreases in
accounts receivable.

    Net cash used in investing activities was $13.8 million for the three
months ended March 31, 2000 and $21.4 million for the three months ended
March 31, 2001. Net cash used in investing activities was primarily a result
of acquisitions of Web sites and related Internet media properties and capital
expenditures.

    Net cash provided by financing activities was $98.4 million for the three
months ended March 31, 2000 and $55,000 for the three months ended
March 31, 2001. Net cash provided by financing activities was primarily a result
of net proceeds from our follow-on public offering for the three months ended
March 31, 2000.

    Capital expenditures were $1.4 million for the three months ended March 31,
2000 and $1.3 million for the three months ended March 31, 2001. We anticipate
that our capital expenditures will increase as needed to support growth in
operations, infrastructure and personnel.


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<PAGE>

RECENT ACCOUNTING PRONOUNCEMENTS

    In June 1998, the Financial Accounting Standards Board ("FASB") issued
Statement of Financial Accounting Standards No. 133 ("SFAS No. 133"),
"Accounting for Derivative Instruments and Hedging Activities", subsequently
amended by SFAS No. 138, which is effective for all fiscal quarters of fiscal
years beginning after June 15, 2000. SFAS No. 133 requires that all derivative
financial instruments, such as interest rate swap contracts and foreign exchange
contracts, be recognized in the financial statements and measured at fair value
regardless of the purpose or intent for holding them. Changes in the fair value
of derivative financial instruments are either recognized periodically in income
or stockholders' equity, depending on whether the derivative is being used to
hedge changes in fair value or cash flows. internet.com does not invest in any
derivative based financial instruments, therefore, the adoption of SFAS 133 did
not have an effect on internet.com's financial statements.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISKS

    We have no derivative financial instruments or derivative commodity
instruments in our cash and cash equivalents. We have invested our net proceeds
from our public offerings in short-term, interest-bearing, investment grade
securities. Our transactions are generally conducted, and our accounts are
generally denominated, in United States dollars. Accordingly, we are not exposed
to significant foreign currency risk.



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<PAGE>



PART II - OTHER INFORMATION


Item 1.            LEGAL PROCEEDINGS

                   For a description of material pending legal proceedings
                   affecting the Registrant, see Item 3. Legal Proceedings
                   contained in the Registrant's Annual Report on Form 10-K for
                   the fiscal year ended December 31, 2000

Item 2.            CHANGES IN SECURITIES

                   Not Applicable

Item 3.            DEFAULTS UPON SENIOR SECURITIES

                   Not Applicable

Item 4.            SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

                   Not Applicable

Item 5.            OTHER INFORMATION

                   Not Applicable

Item 6.            EXHIBITS AND REPORTS ON FORM 8-K

            (a)   Exhibits

                  The following is a list of exhibits filed as part of this
                  Report on Form 10-Q. Where so indicated by footnote, exhibits
                  which were previously filed are incorporated by reference. For
                  exhibits incorporated by reference, the location of the
                  exhibit in the previous filing is indicated parenthetically
                  except for in those situations where the exhibit number was
                  the same as set forth below.

                  Exhibit
                   Number   Description
                  -------------------------------------------------------------
                  11        Statement Regarding Computation of Per Share
                            Earnings (Loss) (included in notes to
                            consolidated financial statements)

            (b)   Reports on Form 8-K

                          On December March 12, 2001 internet.com filed a Form
                  8-K/A disclosing certain historical and pro forma financial
                  information related to its acquisition of certain assets of
                  EarthWeb Inc., a Delaware corporation ("EarthWeb"), pursuant
                  to an asset purchase agreement, dated December 22, 2000 by and
                  among internet.com and EarthWeb.



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<PAGE>



                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.



Dated: May 15, 2001              internet.com Corporation






                                 /s/ Christopher S. Cardell
                         ------------------------------------------------
                                  Christopher S. Cardell
                          Director, President and Chief Operating Officer







                                /s/ Christopher J. Baudouin
                         ------------------------------------------------
                                  Christopher J. Baudouin
                                  Chief Financial Officer




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