<Page>

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 10-Q

(Mark One)

|X|      QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
         EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 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:
                       --------------------------------------------------------

                                 HOOVER'S, INC.
-------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

                Delaware                                  74-2559474
---------------------------------------               -------------------
    (State or other jurisdiction of                    (I.R.S. Employer
    incorporation or organization)                    Identification No.)

 5800 Airport Blvd., Austin, Texas                               78752
---------------------------------------------------           ------------
(Address of principal executive offices)                       (Zip Code)

                                 (512) 374-4500
-------------------------------------------------------------------------------
              (Registrant's telephone number, including area code)

-------------------------------------------------------------------------------
(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 Sections 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. |X| Yes |_| No



As of June 30, 2001, 15,373,175 shares of the registrant's common stock were
outstanding, net of 405,500 shares of Treasury Stock.
-------------------------------------------------------------------------------

<Page>


<Table>
<Caption>
                                                                                                    PAGE
                                                                                                   NUMBER
                                                                                                  ---------
PART I.  FINANCIAL INFORMATION
<S>                                                                                               <C>
ITEM 1            Consolidated Financial Statements

                      Consolidated Balance Sheets at June 30, 2001, and March 31, 2001..................2

                      Consolidated Statements of Operations for the Three Months Ended
                           June 30, 2001 and 2000.......................................................3

                      Consolidated Statements of Cash Flows for the Three Months Ended
                           June 30, 2001 and 2000.......................................................4

                  Notes to Consolidated Financial Statements............................................5

ITEM 2            Management's Discussion and Analysis of
                      Financial Condition and Results of Operations.....................................8

ITEM 3            Quantitative and Qualitative Disclosures About Market Risk...........................22

PART II.          OTHER INFORMATION

ITEM 1            Legal Proceedings....................................................................22

ITEM 2            Properties...........................................................................22

ITEM 3            Changes in Securities and Use of Proceeds............................................22

ITEM 4            Defaults Upon Senior Securities......................................................22

ITEM 5            Submission of Matter to a Vote of Securities Holders.................................22

ITEM 6            Other Information....................................................................22

ITEM 7            Exhibits and Reports on Form 8-K.....................................................22
</Table>


                                       1
<Page>

PART I:  FINANCIAL INFORMATION
ITEM 1.  FINANCIAL STATEMENTS

                                 HOOVER'S, INC.
                           CONSOLIDATED BALANCE SHEETS
                        (IN THOUSANDS, EXCEPT SHARE DATA)
<Table>
<Caption>
                                                                                                  JUNE 30, 2001   MARCH 31, 2001
                                                                                                 --------------- ------------------
                                                                                                     (UNAUDITED)
<S>                                                                                              <C>             <C>
ASSETS
Current assets:
  Cash and cash equivalents....................................................................       31,014            30,533
  Accounts receivable, less allowance for doubtful accounts of  $244 and $1,288 at
           June 30 and March 31, 2001, respectively............................................        3,912             4,352
  Book inventory, less allowances for excess and obsolete inventory of $46 and $46 at June 30
           and March 31, 2001, respectively....................................................           79               120
  Prepaid expenses and other current assets....................................................          671               472
                                                                                                  -----------------------------

Total current assets...........................................................................       35,676            35,477
Property, plant and equipment:
  Computer and office equipment................................................................        6,450             6,786
  Equipment under capital lease................................................................            -               147
  Furniture and fixtures.......................................................................        1,419             1,434
  Leasehold improvements.......................................................................        1,031               914
  Web site development costs...................................................................        1,743             1,812

  Less accumulated depreciation................................................................       (3,951)           (4,333)
                                                                                                  -----------------------------

Total property, plant and equipment............................................................        6,692             6,760
Goodwill and intangible assets.................................................................          101             6,315
Other assets...................................................................................        1,672             2,610
                                                                                                  -----------------------------
Total assets...................................................................................       44,141            51,162
                                                                                                  =============================
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
  Accounts payable and commissions.............................................................        1,344             1,834
  Accrued expenses.............................................................................        3,597             3,422
  Notes payable to stockholder.................................................................          760             1,015
  Deferred revenue.............................................................................        6,391             5,235
                                                                                                  -----------------------------
Total current liabilities......................................................................       12,092            11,506

Obligations under capital leases, less current portion.........................................           23                31
                                                                                                  -----------------------------
Total liabilities..............................................................................       12,115            11,537
Stockholders' equity:
  Common stock, $.01 par value, 50,000,000 and 150,000,000 shares authorized, 15,778,675
    and 15,755,328 shares issued at June 30, 2001 and March 31, 2001, respectively.............          158               158
  Preferred stock, $.01 par value, 10,000,000 shares authorized, no shares issued at June 30,
    2001 and March 31, 2001, respectively......................................................           --                --
  Additional paid-in capital...................................................................       95,537            95,535
  Unearned stock compensation..................................................................         (257)             (331)
  Accumulated deficit..........................................................................      (62,531)          (55,106)
   Cumulative translation adjustment                                                                     (36)              (25)
  Treasury stock at cost-- 405,500 shares......................................................         (845)             (606)
                                                                                                  -----------------------------
Total stockholders' equity.....................................................................       32,026            39,625
                                                                                                  -----------------------------
Total liabilities and stockholders' equity.....................................................       44,141            51,162
                                                                                                  =============================
</Table>

SEE ACCOMPANYING NOTES.


                                       2
<Page>

                                 HOOVER'S, INC.
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)
                 (IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)

<Table>
<Caption>
                                                          THREE MONTHS ENDED
                                                  ---------------------------------
                                                   JUNE 30, 2001   JUNE 30, 2000
                                                  --------------- ----------------
<S>                                               <C>             <C>
Revenues:
  Subscription revenue .......................    $      5,112     $      3,064
  Advertising and e-commerce .................           1,711            3,046
  Licensing and syndication ..................             925              524
  CD-ROM and print, net ......................             357              228
                                                  ---------------------------------


Net revenues .................................           8,105            6,862
  Cost of revenues ...........................          (2,958)          (2,615)
                                                  ---------------------------------

Gross profit .................................           5,147            4,247
Expenses:
  Product development ........................             303              623
  Sales and marketing ........................           2,198            3,910
  General and administrative .................           3,231            2,856
  Amortization and impairment of goodwill
    and intangibles ..........................           6,214             --
  Noncash compensation .......................              74               91
                                                  ---------------------------------
Total expenses ...............................          12,020            7,480

Operating loss ...............................          (6,873)          (3,233)
Interest income ..............................             403              792
Interest expense .............................             (19)              (2)
Loss on strategic investments ................            (937)            --
                                                  ---------------------------------

Net loss .....................................    $     (7,426)    $     (2,443)
                                                  =================================

Basic and diluted net loss per share .........    $      (0.48)    $      (0.19)
                                                  =================================

Shares used in computation of basic and
      diluted loss per share .................      15,404,125       12,792,518
</Table>

SEE ACCOMPANYING NOTES.


                                       3
<Page>

                                 HOOVER'S, INC.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)
                                 (IN THOUSANDS)

<Table>
<Caption>
                                                                       THREE MONTHS ENDED
                                                                -----------------------------
                                                                 JUNE 30, 2001   JUNE 30,2000
                                                                 -------------  -------------
<S>                                                             <C>             <C>
OPERATING ACTIVITIES
Net loss ......................................................   $ (7,426)      $ (2,443)
Adjustments to reconcile net loss to net cash used in operating
  activities:
  Depreciation ................................................        657            593
  Amortization of unearned stock compensation, net ............         74             91
  Loss on strategic investments ...............................        937           --
  Amortization and impairment of goodwill and intangibles .....      6,214           --

  Changes in operating assets and liabilities:
     Accounts receivable ......................................        440           (674)
     Inventories ..............................................         41             31
     Prepaid expenses and other current assets ................       (199)            29
     Other assets .............................................         (9)          --
     Accounts payable and commissions .........................       (490)           934
     Accrued expenses .........................................        175           (166)
     Deferred revenue .........................................      1,156            215
                                                                -----------------------------


Net cash provided by/(used in) operating activities ...........      1,570         (1,390)

INVESTING ACTIVITIES
Purchases of property, plant and equipment ....................       (590)          (970)
Purchase of investments .......................................       --           (4,944)
Sales of short-term securities ................................       --            3,011
                                                                -----------------------------
Net cash used in investing activities .........................       (590)        (2,903)

FINANCING ACTIVITIES

Payments on term loans ........................................       (255)          --
Payments on capital leases ....................................         (8)            (7)
Net proceeds from capital stock transactions ..................          2          1,406
Purchase of treasury stock ....................................       (238)          --
                                                                -----------------------------
Net cash provided by/(used in) financing activities ...........       (499)         1,399
                                                                -----------------------------

Increase (decrease) in cash and cash equivalents ..............        481         (2,894)
Cash and cash equivalents at beginning of quarter .............     30,533         42,881
                                                                -----------------------------


Cash and cash equivalents at end of quarter ...................   $ 31,014       $ 39,987
</Table>

SEE ACCOMPANYING NOTES.


                                       4
<Page>

                                 HOOVER'S, INC.
                   NOTES TO FINANCIAL CONSOLIDATED STATEMENTS

                                   (UNAUDITED)

1.       BASIS OF PRESENTATION

         The interim consolidated financial statements for the three months
ended June 30, 2001 and 2000, have been prepared by us pursuant to the rules and
regulations of the Securities and Exchange Commission (the SEC). Accordingly,
they do not include all of the information and footnotes required by accounting
principles generally accepted in the United States for complete financial
statements. These statements are unaudited and, in the opinion of management,
include all adjustments (consisting of normal recurring adjustments and
accruals) necessary to present fairly the results for the periods presented. The
results of operations for such periods are not necessarily indicative of the
results expected for a full year or for any future period. All material
intercompany accounts and transactions have been eliminated in consolidation.

         The balance sheet at June 30, 2001, has been derived from the unaudited
financial statements at that date but does not include all of the information
and footnotes required by accounting principles generally accepted in the United
States.

         For further information, refer to the financial statements and related
notes included in our Annual Reports filed on Form 10-K.

2.       NET LOSS PER SHARE

         The Company follows the provisions of Statement of Financial Accounting
Standards No. 128, EARNINGS PER SHARE ("Statement 128"). Basic net loss per
share is computed by dividing net loss available to common stockholders by the
weighted average number of common shares outstanding during the period,
excluding shares subject to repurchase. Diluted net loss per share has not been
presented, as the effect of the assumed exercise of stock options and warrants
is antidilutive due to the Company's net loss.


3.       RECLASSIFICATIONS

         Reclassifications have been made to the 2000 financial statements to
conform to the 2001 presentation.

4.       CAPITAL STOCK AND STOCK PLANS

         During the quarters ended June 30, 2001 and 2000, $74,000 and $91,000
was amortized to noncash compensation expense, respectively. The remaining
unearned compensation will be recognized as noncash compensation expense over
the remaining vesting period of the options of approximately two years.

5.       STOCK BUYBACK:

         On December 22, 2000, Hoover's announced it had received Board approval
of a plan to buy back up to 10% of the outstanding shares of its common stock,
based on the price and general market conditions. In the quarter ended June 30,
2001, Hoover's repurchased 82,000 shares at an average price of $2.91 per share.
Since the inception of the program, 255,500 shares have been repurchased, at an
average price of $2.72, increasing Treasury Stock to 405,500 shares.



                                       5
<Page>


6.       BUSINESS COMBINATION AND IMPAIRMENT OF GOODWILL AND INTANGIBLE ASSETS

         We recorded $25.5 million in goodwill and other intangibles related to
our purchase of Powerize.com, which was completed in August 2000. After the
acquisition, primarily due to changes in the outlook for advertising and the
decline in the market for the sale of advertising on newsletters served by
Powerize, the Company determined that the value of key assets acquired was
impaired and recorded an impairment charge of $15.4 million in the fourth
quarter of the prior fiscal year. Recent events involving the decision to
discontinue the NewsStand and Hoover's Intelligence Monitor products indicated
further impairment and as a result, we further reduced the carrying amount of
these intangible assets in the first fiscal quarter of 2002. In addition to
recording $407,000 of amortization expense for the quarter, we recorded an
impairment charge of $5.8 million during the June quarter to write down the
goodwill and other intangibles.

7.       RESTRUCTURING ACTIVITY

            In March 2001, upon approval of the Board of Directors, management
adopted a restructuring plan to consolidate operations of the organization. The
plan included the relocation of 16 of the 33 employees from the Reston,
Virginia, and Linthicum, Maryland, locations to the Austin, Texas, headquarters.
The employees terminated were primarily in Engineering and Administrative
positions. Facilities consolidation charges were incurred in connection with the
closure of the two facilities for payments required under lease contracts, less
any sublease income. During the year ended March 31, 2001, Hoover's accrued
$344,000 in costs associated with this restructuring, which was included in
general and administrative expense. The costs are not associated with the
generation of future revenues and have no future economic benefit. The following
table presents the allocation of the expenses accrued and the remaining
restructuring accruals as of June 30, 2001 (in thousands):

<Table>
<Caption>
                                                            EMPLOYEE
                                                            SEPARATION
                                           FACILITY         AND OTHER
                                        CONSOLIDATION        COSTS             OTHER           TOTAL
                                       --------------   ---------------    ------------    -------------
<S>                                    <C>              <C>                <C>             <C>
Balance at March 31, 2001...........        $ 107           $ 145             $  92         $    344
    Cash activity ..................          (78)           (101)              (19)            (198)
    Non-cash activity ..............           --              --                --               --
                                            --------        ---------         ---------     ------------

Balance at June 30, 2001                    $  29           $  44             $  73         $    146
                                            ========        =========         =========     ============
</Table>


                                       6
<Page>

8.       LONG TERM INVESTMENTS

         Hoover's has made equity investments in several companies, both
private and public, that it considers to be strategic in nature. We review the
carrying amount of these investments on a continuous basis. We consider
publicly traded prices for comparable companies, overall market conditions, the
current status of business plans as well as the individual companies' financial
conditions and liquidity. As a result of this review, we recorded an impairment
expense of $937,000 as of June 30, 2001. We will continue to analyze these
investments for evidence of further impairment in light of overall market
conditions that have resulted in lower valuations and economic challenges for
private companies and it is reasonably possible that future events will lead us
to reduce the carrying value of these investments.

9.       RELATED PARTY TRANSACTIONS

         We purchase certain information included in our databases from a
subsidiary of a stockholder. Hoover's paid approximately $161,000 and $195,000
during the three months ended June 30, 2001 and 2000, respectively. We had
outstanding amounts payable of approximately $0 and $61,000 at June 30, 2001,
and March 31, 2001, respectively, to a vendor who is also a stockholder.

         We have a commitment from a stockholder to purchase from us at least
$2.0 million of advertising, subscriptions, sponsorships, content licensing or
other services through April 30, 2004, of which approximately $900,000 remains.
For the quarter ended June 30, 2000, we recognized $275,000, of advertising
revenues pursuant to this agreement. We did not recognize any revenue under this
agreement in the quarter ended June 30, 2001. We have recorded a total of
$1,080,000 revenue under the terms of this agreement since inception.

         We have notes outstanding to a former Powerize shareholder that we
assumed as part of the acquisition. As of June 30, 2001, the balance of these
notes, plus accrued interest, were $760,000.

         We have a strategic relationship with the Fortune Group, an affiliate
of one of our shareholders. This agreement includes advertising, e-commerce,
serving fees, and co-branding revenue. For the quarter ended June 30, 2001,
Hoover's recognized advertising revenue of $125,000 and approximately $9,000 in
licensing co-brand and e-commerce revenue.

10.      SUBSEQUENT EVENTS

         On August 1, 2001, Hoover's paid in full a note held by a former
investor of Powerize, principal balance plus accrued interest of $10,000,
totaling $760,000, which had been assumed as part of the acquisition of
Powerize.

11.      RECENTLY ISSUED ACCOUNTING STANDARDS

         In July 2001, the Financial Accounting Standards Board ("FASB") issued
Statement No. 141, BUSINESS COMBINATIONS, ("Statement 141"). Statement 141
requires that all business combinations be accounted for under the purchase
method of accounting. Additionally, certain intangible assets acquired as part
of a business combination must be recognized as separate assets, apart from
goodwill. Statement 141 is effective for all business combinations initiated
subsequent to June 30, 2001. To date, all of the Company's acquisitions have
been accounted for under the purchase method of accounting, as such, the Company
does not expect the adoption of Statement 141 to have a material impact on its
financial statements.

         Also in July 2001, the FASB issued Statement No. 142, GOODWILL AND
OTHER INTANGIBLE ASSETS ("Statement 142"). Statement 142 requires that ratable
amortization of goodwill be replaced with periodic review and analysis of
goodwill for possible impairment. Qualifying intangible assets other than
goodwill must be amortized over their estimated useful lives. The provisions of
Statement 142 allow for early adoption for any company with a fiscal year
beginning after March 15, 2001, with a required adoption for companies with
fiscal years beginning after December 15, 2001. Hoover's has chosen not to early
adopt this Statement and will therefore adopt in fiscal year 2003. The Company


                                       7
<Page>

is currently analyzing the impact that the adoption of Statement 142 will have
on its financial statements. It is possible that the Company could experience
impairment of other intangible assets that could require future charges.


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

         THE FOLLOWING DISCUSSION SHOULD BE READ IN CONJUNCTION WITH THE
FINANCIAL STATEMENTS AND RELATED NOTES THERETO INCLUDED ELSEWHERE IN THIS
QUARTERLY REPORT ON FORM 10-Q. EXCEPT FOR THE HISTORICAL FINANCIAL INFORMATION
CONTAINED HEREIN, THE MATTERS DISCUSSED IN THIS QUARTERLY REPORT ON FORM 10-Q
MAY BE CONSIDERED "FORWARD-LOOKING" STATEMENTS WITHIN THE MEANING OF SECTION 27A
OF THE SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED. SUCH STATEMENTS INCLUDE DECLARATIONS REGARDING
THE INTENT, BELIEF OR CURRENT EXPECTATIONS OF HOOVER'S AND ITS MANAGEMENT AND
MAY BE SIGNIFIED BY THE WORDS "EXPECTS," "ANTICIPATES," "INTENDS," "BELIEVES,"
OR SIMILAR LANGUAGE. PROSPECTIVE INVESTORS ARE CAUTIONED THAT ANY SUCH
FORWARD-LOOKING STATEMENTS ARE NOT GUARANTEES OF FUTURE PERFORMANCE AND INVOLVE
A NUMBER OF RISKS AND UNCERTAINTIES. ACTUAL RESULTS COULD DIFFER MATERIALLY FROM
THOSE INDICATED BY SUCH FORWARD-LOOKING STATEMENTS. FACTORS THAT COULD CAUSE OR
CONTRIBUTE TO SUCH DIFFERENCES INCLUDE THOSE DISCUSSED BELOW, AS WELL AS THOSE
DISCUSSED IN THE HOOVER'S FORM 10-K FOR THE FISCAL YEAR ENDED MARCH 31, 2001.

OVERVIEW

         At Hoover's, Inc. ("Hoover's"; Nasdaq: HOOV) we publish information
about companies, industries, and their leaders to help our audience of
businesspeople get their jobs done. We operate Hoover's Online ("HOL"),
located at http://www.hoovers.com, an online information resource for
businesspeople, as well as five additional sites addressing the needs of
businesspeople in France, Germany, Italy, Spain and the U.K., through our
London-based subsidiary, Hoover's Online Europe Limited ("HEU"). We also
license our information to third parties and publish books and CD-ROMs.

         Our core asset is a proprietary database of authoritative and useful
business information regarding what we believe to be the world's largest, most
influential and fastest-growing companies and industries and the people who lead
them. Our database, combined with third-party business information, news, a
collection of selected links to third-party information and product information,
as well as business travel, personal finance and career tools, helps
businesspeople answer their questions and get their jobs done.

         Our proprietary editorial content is a recognized source of
engagingly written and useful information on more than 17,000 public and
private enterprises worldwide and more than 300 industries. We have a staff
of approximately 90 researchers, writers, editors and online producers
dedicated exclusively to creating and publishing Hoover's database of
business information. We believe that we have one of the largest online
databases of company-specific information measured in terms of both breadth
and depth of coverage, and we continually expand and update our database. Our
database is complemented by third-party company databases and information,
including Dun & Bradstreet, Harris InfoSource, infoUSA.com, Market Location,
Media General Financial Services and Mergent FIS which allow our users to
access a greater amount of information. We also provide information on
initial public offerings through an online resource called IPO Central
(located within HOL and at www.ipocentral.com), collections of industry
information and links, executive biographical information, and feature
stories, news, career information, personal finance information and SEC
documents as well as access to various research reports through our online
Hoover's Information Marketplace. Additionally, we offer proprietary
searching and sorting tools, as well as personal alert tools to make our
information more useful to businesspeople.

         HOL provides millions of businesspeople with timely and reliable
proprietary and aggregated information and technology based research tools,
which allow them to get answers to their questions and make informed
decisions. Our online business information service provides tiered free and
for-pay access. Advertising supports free access, while our subscription
service has attracted 293,000 paid seats, generated by individual
subscriptions and 7,077 enterprise accounts. We also provide an e-commerce
marketplace in which both our free and for-pay users can purchase business
information, products and services.

                                       8
<Page>

         HOL provides high-quality, proprietary business information via the
Internet and hand-held Web-enabled devices, such as personal digital assistants
and mobile telephones, to the businessperson who seeks answers to specific
business-related questions about companies, industries and the people who lead
them. Our customers use our information for their professional endeavors,
including lead generation and qualification, financial and competitive research,
as well as for their personal activities, including career development and
personal investment. We believe we provide our advertisers with a large,
demographically desirable business audience, who, as a group, are affluent,
highly educated and willing to conduct business over the Internet. HEU leverages
Hoover's proprietary information database and technology, aggregated with
country-specific content, to deliver similar business information to our
European users in English and their native languages. We also license the
Hoover's database of proprietary company information to third parties such as
Bloomberg, Dow Jones, LexisNexis, Microsoft Network, and Reuters.

         We generate revenues from the following sources:

               -    Individual and enterprise subscriptions;

               -    Advertising and e-commerce;

               -    Licensing and syndication of our editorial content and
                    tools; and

               -    Sales of our proprietary company information in both CD-ROM
                    and print.

         We believe that we were among the first companies to deploy a tiered
pricing model on the Internet: advertising-supported free information, paid
subscriptions for in-depth information, and pay-per-view e-commerce for
specialized information in an online environment. Additionally, we receive
licensing and syndication revenues from third parties for use of our content and
tools. HOL attracted approximately 2.3 million unique visitors during the
quarter ended June 30, 2001.

SUBSCRIPTION REVENUE

         We derive revenues from individual and enterprise subscriptions.
Individual subscriptions are currently sold directly on our Web site for $29.95
per month or $199.95 per year. We periodically offer pricing discounts and
promotions to new subscribers in order to introduce our product and services.
These offers usually run for a short duration. We also offer annual enterprise
subscriptions ranging from $1,800 for 5 seats to $45,000 for 1,000 seats per
year. In addition, larger enterprise subscriptions are sold using a negotiated
price, based on the estimated number of active seats. We recognize subscription
revenues on a monthly basis, and we record annual individual and enterprise
subscriptions as deferred revenues, which are amortized into revenues over the
term of the subscription.

ADVERTISING AND E-COMMERCE

         We derive revenues from the sale of banner and button advertisements,
sponsorships, and e-commerce opportunities on our Web site. Advertisement and
sponsorship prices are based on a price per thousand impressions or a fixed
monthly fee. Revenues are recognized either as the impressions are delivered or
ratably over the contract period, provided that no significant obligations
remain. We also derive e-commerce revenues from advertisers and other partners
that pay either a fee per transaction or a percentage of sales generated
directly from their advertisement on our Web site or from their special
sponsorship of an area within our Web site.

LICENSING AND SYNDICATION

         We have licensed portions of our database since 1991. Our customers
range from traditional online service providers, such as Dow Jones and
LexisNexis, to other Web sites, such as Yahoo! Finance and the Microsoft
Network. We provide our customers with either a customized data feed of our
proprietary company information, or a co-branded set of Web pages designed for
the customer. License fees are generally based upon variables, such as the
amount of information and number of tools, the number of seats, the number of
capsules viewed or the number of terminals. Licensing to these entities remains
a key tactic, which allows us to reach new customers through expanded channels.

         After the acquisition of Powerize.com we operated the Hoover's
NewsStand product that we acquired from Powerize. Revenue from this product has
been included in licensing revenue. Subsequent to the end of the quarter, we


                                       9
<Page>

discontinued this product because it was not a part of our core strategy and we
were uncertain about our ability to license it to others beyond existing
customers.

         The Hoover's Intelligence Monitor (HIM) service was an outgrowth of our
acquisition of Powerize.com. Sales of this service did not meet our expectations
and therefore we have elected to discontinue this product line. Revenues from
HIM were not significant.

CD-ROM AND PRINT SALES

         We sell CD-ROMs and print products containing company information. We
recognize these revenues when the goods are shipped. For our sale of CD-ROMs and
print products, we provide an allowance for returns when the products are
shipped.

COSTS AND EXPENSES

         Our cost of revenues includes editorial personnel costs, expenses
associated with licensing of third-party content and tools, direct expenses
associated with our Web site, such as hosting and other service fees, any
commissions paid to advertising agencies, and technology costs associated with
the delivery of advertising impressions and newsletters.

         Our product development expenses include technology personnel costs and
related consulting fees. Also included is amortization of previously capitalized
product development costs.

         Sales and marketing expenses include sales and marketing personnel
costs, including commissions, as well as all marketing, advertising and
promotional expenses.

         General and administrative expenses consist of compensation for
administrative and executive staff, which we consider to include executive,
finance, office network and human resource personnel, as well as fees for
professional services, travel, depreciation and general office and occupancy
expenses.

         We continue to incur non-cash charges for compensation expense related
to the valuation of options and deferral of related compensation expense in the
fourth fiscal quarter of 1999, as well as a result of our acquisition of
Powerize.com. The deferred compensation will result in non-cash compensation
expense over the four-year vesting period of these options.

RESULTS OF OPERATIONS

         The following table sets forth, for the periods illustrated, certain
statement of operations data expressed as a percentage of net revenues:


<Table>
<Caption>
                                                      -----------------------------------
                                                              THREE MONTHS ENDED:

                                                      -----------------------------------
                                                        June 30, 2001      June 30, 2000
                                                        -------------      -------------
<S>                                                     <C>                <C>
  Revenues:
      Subscription revenue...............                     63%                45%
      Advertising and e-commerce.........                     21%                44%
      Licensing and syndication..........                     11%                 8%
      CD-ROM and print, net..............                      5%                 3%
                                                       ---------------     ---------------
  Net revenues...........................                    100%               100%
      Cost of revenues...................                     36%                38%
  Gross profit...........................                     64%                62%
  Expenses:
      Product development................                      4%                 9%
      Sales and marketing................                     27%                57%
      General and administrative.........                     40%                42%


                                       10
<Page>

       Amortization expense and impairment of
         goodwill...........................                  77%                --
      Non-cash compensation..............                      1%                1%
                                                       ---------------     ---------------
  Total expenses.........................                    149%              109%
  Operating loss.........................                    (85%)             (47%)
  Interest income........................                      5%               12%
  Interest expense.......................                     --
  Loss on strategic investments............                  (12%)              --
                                                       ---------------     ---------------
  Net loss ..............................                    (92%)             (35%)
                                                       ===============     ===============
</Table>

         REVENUES. Net revenues for the three months ended June 30, 2001,
increased 18% to $8.1 million, from $6.9 million for the three months ended June
30, 2000.

         Our subscription revenues increased 67% to $5.1 million for the three
months ended June 30, 2001, from $3.1 million for the comparable quarter one
year ago. This increase in revenues is due to the increase in the number of paid
seats associated with individual subscribers and enterprise accounts. Paid seats
grew 18% to 293,000 as of June 30, 2001, from approximately 248,000 as of June
30, 2000. This reflects our change in strategy to encourage more enterprise
subscribers and the price changes that were initiated in the December 2000
quarter. For the three months ended June 30, 2001, Hoover's Online attracted 2.3
million unique visitors, who accounted for approximately 95 million page views,
compared to 2.8 million unique visitors and 86.1 million page views during the
three months ended June 30, 2000. Subscription revenue represented 63% of net
revenues for the three months ended June 30, 2001, compared to 45% of net
revenues in the year-ago period.

         Sales leads provided by the traffic to our Web site and our increased
number of salespeople contributed to the increase in new enterprise subscription
accounts. As of June 30, 2001, we had 7,077 enterprise accounts compared to
2,927 enterprise accounts as of June 30, 2000, representing an increase of 142%.

         Revenues from advertising and e-commerce decreased 44% to $1.7 million
for the three months ended June 30, 2001, from $3.0 million for the three months
ended June 30, 2000. This decline reflects the significant decline in the
advertising industry that has taken place in the past year. Advertising and
e-commerce represented 21% of net revenues for the three months ended June 30,
2001, compared to 44% of net revenues in the year-ago period.

         Licensing revenues increased 77% to $925,000 for the three months ended
June 30, 2001, from $524,000 for the three months ended June 30, 2000. The
increase is due primarily to our acquisition of Powerize.com, which resulted in
increased revenues from the licensing of our NewsStand product, of $356,000, as
well as higher royalties from certain existing licensing customers. In general,
royalty payments are based on use of Hoover's content or other revenue-sharing
arrangements. Licensing revenue represented 11% of net revenues for the quarter
ended June 30, 2001, compared to 8% of net revenues in the year-ago period.

         Revenues from CD-ROM and print products increased 57% to $357,000 for
the three months ended June 30, 2001, from $228,000 for the three months ended
June 30, 2000. This is due to the timing of publications during the quarter.
However, Print and CD-ROM revenue is expected to remain flat through this fiscal
year. Print and CD revenue represented 5% of net revenues for the quarter ended
June 30, 2001, compared to 3% of net revenues in the year-ago period.

         COST OF REVENUES. Cost of revenues for the three months ended June 30,
2001, increased 13% to $3.0 million, from $2.6 million in the three months ended
June 30, 2000. The increase in cost of revenues was primarily due to an increase
in compensation for existing and new editorial and Web site maintenance
personnel, increased costs of Web site hosting, as well as increases in expenses
associated with third-party content, most notably that associated with content
arrangements that were assumed pursuant to our acquisition of Powerize. As a
percentage of revenues, cost of revenues for the three months ended June 30,
2001, was lower, at 36% of revenues, compared to 38% in the year-ago period.
This decrease occurred primarily because the editorial costs associated with
creation and maintenance of the company database and certain third-party content
costs are relatively fixed without regard to the level of revenues.

         PRODUCT DEVELOPMENT. Product development expenses for the three months
ended June 30, 2001, decreased 51% to $303,000, from $623,000 in the three
months ended June 30, 2000. This decrease was due to a decline in


                                       11
<Page>

consulting expenses associated with product development as projects have been
completed and offset by amortization associated with the capitalization of
approximately $1.7 million of Web site development costs in accordance with EITF
00-2, Accounting for Web-Site Development Costs. We expect that these
capitalized costs will be amortized over their service period of 24 months as
the projects are completed.

         SALES AND MARKETING. Sales and marketing expenses for the three months
ended June 30, 2001, decreased 44% to $2.2 million, from $3.9 million for the
three months ended June 30, 2000. The decrease in sales and marketing expenses
was due to a significant decline in spending for advertising and marketing as a
consequence of the soft advertising industry. This was somewhat offset by an
increase in the number of enterprise sales representatives and an increase in
commissions as a result of higher subscription revenues as the company changes
its focus to subscription revenues.

         GENERAL AND ADMINISTRATIVE. General and administrative expenses for the
three months ended June 30, 2001, increased 13% to $3.2 million, from $2.9
million for the three months ended June 30, 2000. The increase was primarily due
to an increase in salaries of existing executive and administrative staff, as
well as the addition of administrative and finance personnel. General office
expenses increased due to facility expansion in Austin, as well as higher
occupancy operating costs in New York, San Francisco and Europe. Bad debt
expense increased as the collectibility of certain of our accounts receivables
is uncertain due to the economic downturn. Depreciation increased due to an
increase in capital expenditures and credit card processing fees increased due
to a higher volume of subscription payments and other transactions.

         IMPAIRMENT OF GOODWILL AND INTANGIBLES. We recorded $25.5 million in
goodwill and other intangibles related to our purchase of Powerize.com, which
was completed in August 2000. After the acquisition, primarily due to changes in
the outlook for advertising and the decline in the market for the sale of
advertising on newsletters served by Powerize, the Company determined that the
value of key assets acquired was impaired and recorded an impairment charge of
$15.4 million in the fourth quarter of the prior fiscal year. Recent events
involving the decision to discontinue the NewsStand and Hoover's Intelligence
Monitor products indicated further impairment and as a result, we further
reduced the carrying amount of these intangible assets in the first fiscal
quarter of 2002. In addition to recording $407,000 of amortization expense for
the quarter, we recorded an impairment charge of $5.8 million during the June
quarter to write down the goodwill and other intangibles.

         IMPAIRMENT OF STRATEGIC INVESTMENTS. Hoover's has made equity
investments in several companies, both private and public, that it considers to
be strategic in nature. We review the carrying amount of these investments on a
continuous basis. We consider publicly traded prices for comparable companies,
overall market conditions, the current status of business plans as well as the
individual companies' financial conditions and liquidity. As a result of this
review, we recorded an impairment expense of $937,000 as of June 30, 2001. We
will continue to analyze these investments for evidence of further impairment in
light of overall market conditions that have resulted in lower valuations and
economic challenges for private companies and it is reasonably possible that
future events will lead us to reduce the carrying value of these investments.

         INTEREST INCOME AND EXPENSE. Interest income for the three months ended
June 30, 2001, decreased 49% to $403,000, from $792,000 for the three months
ended June 30, 2000. The decrease was due to our decreases in cash balances and
short-term investments as well as lower interest rates. Interest expense for the
three months ended June 30, 2001 increased to $19,000 from $2,000 for the three
months ended June 30, 2000 due to interest associated with debt acquired as part
of the acquisition of Powerize.

         TAXES. We have incurred significant operating losses for all periods
from inception (February 1990) through June 30, 2001. We have recorded a
valuation allowance for 100% of our net deferred tax assets because our
historical operating results indicate that the net deferred tax assets may not
be realized because of uncertainties regarding our ability to generate
sufficient taxable income during the carryforward period to utilize the net
operating loss carryforwards.

LIQUIDITY AND CAPITAL RESOURCES

         We generated $1.6 million net cash in operating activities during the
three months ended June 30, 2001, compared to a use of $1.4 million in the three
months ended June 30, 2000. Net cash generated in operating activities resulted
primarily from increases in deferred revenues.


                                       12
<Page>

         As of June 30, 2001, we had $31.0 million of cash, cash equivalents and
short-term investments. Our principal commitments at June 30, 2001, consisted of
obligations under capital leases, notes and accounts payable, as well as accrued
expenses. Our accounts payable balance as of June 30, 2001, was $1.3 million,
which consisted of short-term accounts, due within 30 days, and commissions due
to employees. Our accrued expenses of $3.6 million primarily includes amounts
due to vendors for advertising, marketing, and professional expenses for which
we have not been invoiced as well as unused vacation due to employees. At June
30, 2001, we had $760,000 of debt outstanding to a stockholder as a result of
our acquisition of Powerize.com, which we paid in August 2001. As of June 30,
2001, we had deferred revenue recorded of $6.4 million, which represents upfront
payments, primarily related to annual subscriptions to Hoover's Online for which
the earnings process has not been completed.

         In May 2001, we moved our primary operation and headquarters into new
office space in Austin, Texas, thus commencing a non-cancelable operating lease
that includes total minimum payments of $11.2 million, plus operating expenses,
over a 10-year term.

         During the three months ended June 30, 2001, we made fixed assets
purchases as the result of leasehold improvements and equipment associated with
the office relocation.

         We may in the future pursue additional acquisitions of businesses,
products and technologies or enter into joint-venture arrangements that could
complement or expand our business. Any material acquisition or joint venture
could result in a decrease to our working capital, depending on the amount,
timing and nature of the consideration to be paid.

         We believe that our existing cash and cash equivalents will be
sufficient to meet our anticipated cash requirements for working capital and
capital expenditures for at least the next 12 months. Beyond the next 12 months,
our significant commitments consist of repayment of lease commitments for
facilities and telephone equipment. We may invest in sales and marketing
promotions, and invest in more investor relations activities to meet the needs
of a public company. Although we currently expect to meet the cash requirements
of such commitments, expenditures and ongoing operating expenses from working
capital, in order to meet our long-term liquidity needs, we may need or choose
to raise additional funds, seek an additional credit facility or seek other
financing arrangements.

FACTORS THAT MAY AFFECT FUTURE RESULTS

         In addition to the other information in this Form 10-Q, the following
factors should be considered in evaluating our company and our business.

WE HAVE A HISTORY OF LOSSES AND EXPECT FUTURE LOSSES.

         We incurred net losses for each of the previous fiscal years and net
losses of $7.4 million for the three months ended June 30, 2001. At June 30,
2001, we had an accumulated deficit of $62.5 million. We anticipate decreasing
our losses with higher revenues and have taken steps to reduce operating
expenses in an effort to achieve positive results. We may make further
investments to enhance our services and to take advantage of growth
opportunities. However, if our revenues do not increase or if we continue to
spend a disproportionate share of our revenue for operating costs, we may not
achieve profitability. Even if we do achieve profitability, we may not sustain
or increase profitability on a quarterly or annual basis in the future.


OUR BUSINESS IS SUBJECT TO QUARTERLY FLUCTUATIONS IN OPERATING RESULTS THAT MAY
NEGATIVELY IMPACT THE PRICE OF OUR STOCK.

         Our quarterly operating results may fluctuate significantly in the
future due to a variety of factors. These include the following factors, which
are generally outside of our control:

               -    seasonal trends relating to subscriber usage of our
                    services;


                                       13
<Page>

               -    the demand for advertising and seasonal trends relating to
                    advertising spending, particularly on the Internet;

               -    the extent to which we experience increased competition in
                    the markets for business information and advertising to a
                    business audience, and

               -    economic conditions specific to the online publishing
                    industry, as well as general economic and market conditions.

         Other factors that cause our quarterly operating results to fluctuate
significantly, which are at least partially under our control, include:

               -    the rate of new subscriber acquisitions;

               -    the timing and effectiveness of our marketing efforts to
                    acquire visitors and subscribers and to promote our brand;

               -    the timing and effectiveness of any co-branding arrangements
                    or other strategic alliances into which we enter;

               -    expenses related to upgrading our computer systems and
                    related infrastructure; and

               -    changes in our operating expenses.

         In addition, some of our operating expenses are relatively fixed in the
short term. As a result, we may be unable to reduce our expenses quickly enough
to offset any unexpected revenue shortfall, which could have a material adverse
effect on our business, operating results and financial condition.

         Due to all of the foregoing factors and the other risks discussed in
this section, quarter-to-quarter comparisons of our operating results as an
indication of future performance may not be appropriate. It is possible that in
some future periods our quarterly operating results may fall below the
expectations of public market analysts and investors. In this event, the price
of our common stock is likely to fall.

OUR FAILURE TO SIGNIFICANTLY INCREASE THE NUMBER OF OUR SUBSCRIBERS OR RETAIN
OUR CURRENT SUBSCRIBERS WOULD ADVERSELY AFFECT OUR BUSINESS.

         Our future success is highly dependent on attracting companies and
businesspeople that are willing to pay money to subscribe to online business
information services. We believe that marketing relationships, direct marketing,
advertising, public relations campaigns and offering new and enhanced content
and services help attract or retain visitors and subscribers. If the market for
individual and company-wide subscription-based online business information
services develops more slowly than we expect, or if our efforts to attract new
subscribers are not successful or cost-effective, our operating results and
financial condition may be materially and adversely affected.

         We also believe that our long-term success depends on our ability to
retain a substantial portion of our existing subscribers. We continue to invest
significant resources in our database, tools, customer experience, network
infrastructure and customer and technical support capabilities. We cannot be
certain that these investments will maintain or improve subscriber retention. In
addition, as Internet subscribers are offered competing information products and
services they may discontinue or limit their use of our services. Any loss of
significant numbers of subscribers would have a material adverse effect on our
business, operating results and financial condition.

WE ARE DEVELOPING AND ENHANCING OUR SERVICES, FEATURES AND PRODUCTS, WHICH MAY
NOT BE ATTRACTIVE TO OUR EXISTING AUDIENCE AND CUSTOMERS, AND MAY NOT INCREASE
OUR AUDIENCE OR ATTRACT NEW CUSTOMERS.

         We continue to expand content and tools offered on Hoover's Online, as
well as for licensing and syndication to other Web sites, corporate intranets
and enterprise information portals. Management will continue to spend a
significant amount of time and resources developing these and other potentially
new online services and tools. We


                                       14
<Page>

intend to use our marketing activities in order to publicize our new and
enhanced offerings and to attract new visitors to Hoover's Online. However, the
increase in marketing expenditures and activities may not continue to attract
additional visitors and customers or may fail to attract visitors and customers
who enjoy our content and service offerings. Our business, operating results and
financial condition will be adversely affected if we experience difficulties in
introducing new and enhanced services and tools or if new or existing visitors
and customers do not accept these services and tools.

CONTINUED DETERIORATION OF THE MARKET FOR ADVERTISING, PARTICULARLY ONLINE
ADVERTISING, OR OUR FAILURE TO PROVIDE A SUCCESSFUL ONLINE ADVERTISING AND
E-COMMERCE ENVIRONMENT WOULD ADVERSELY AFFECT OUR BUSINESS.

         In recent quarters, the markets for various types of advertising have
experienced significant decreases in their rates of growth and, in some cases,
absolute declines. Some question the short-term future of online advertising. If
this trend continues, our revenues from Internet advertising could be materially
adversely affected. Advertising and e-commerce continues to be a significant
percentage of our revenues upon which we depend and if advertisers perceive the
online medium in general or Hoover's Online in particular to be a limited or
ineffective advertising medium, they may be reluctant to advertise online or on
our Web site. We compete with other Web sites, television, and radio and print
media for a share of advertisers' total advertising budgets. Unlike traditional
advertising media, standards continue to evolve to measure the effectiveness of
online advertising on the Internet. If widely accepted standards do not emerge,
existing advertisers may discontinue or decrease their Internet advertising. If
standards emerge and we are unable to offer advertisers effective advertising
options as measured by the standards, advertisers may not continue advertising
on our Web site. Furthermore, advertisers that have traditionally relied upon
other advertising media may be reluctant to advertise significantly online. Our
business, operating results and financial condition would be materially and
adversely affected if the market for Internet advertising declines or develops
more slowly than expected.

         Different pricing models are used to sell advertising online. Prevalent
pricing models consist of cost per click-through, cost per thousand impressions,
cost per placement and e-commerce or transaction share. If our base audience
decreases, we may have to charge lower advertising rates for those transactions
utilizing cost per thousand impressions. The e-commerce or transaction share
model is based on revenue sharing. Therefore, if we do not attract a
sufficiently large audience willing to purchase from our advertisers, our
revenues generated from advertisements sold under this model will decrease. In
addition, there has been an increased emphasis on performance-based advertising
where pricing is based on the ability to deliver highly targeted advertising to
specific demographic groups. We cannot assure you that we will able to
effectively deploy the necessary technology or deliver appropriate inventory to
produce competitive targeted advertising in a competitive environment. Failure
to do so could have a material adverse effect on our ability to compete in the
Internet advertising market.

         It is difficult to predict which advertising pricing models, if any,
will emerge as industry standards. This uncertainty makes it difficult to
project our future advertising rates and revenues. We cannot assure you that we
will be successful under alternative pricing models that may emerge. Moreover,
software programs that limit or prevent advertising from being delivered to an
Internet user's computer are available. Widespread adoption of this software
could materially adversely affect the commercial viability of Internet
advertising, which would materially adversely affect our advertising revenues.

         Tools and technology used on the site will be an important factor in
the success of e-commerce transactions. Failure to add these tools to the site
could result in a reduced number of goods and services purchased from the site
and could adversely affect our e-commerce revenues. It is important to our
advertisers that we accurately measure the demographics of our user base and the
delivery of advertisements on our Web sites. We depend on third parties to
provide these measurement services. If they were unable to provide these
services in the future, we would be required to perform them ourselves or obtain
them from another provider. This could cause us to incur additional costs or
cause interruptions in our business during the time we are replacing these
services. We are implementing additional systems designed to record demographic
data on our users. If we do not develop these systems successfully, we may not
be able to accurately measure the demographic characteristics of our users.
Companies may not advertise on our Web sites or may pay less for advertising if
they do not perceive our measurements or measurements made by third parties to
be reliable.

         We have experienced seasonal trends in our traffic and advertising
revenues. Traffic on Hoover's Online and the Web sites of others with whom we
license or co-brand our products is lower during the summer and year-end
vacation and holiday periods when business usage of the Internet and Hoover's
Online typically declines. This lower


                                       15
<Page>

traffic may result in corresponding decreases in advertising revenue. Subscriber
growth may decline during low-traffic periods. Our operating results may be
affected if we experience seasonality in future periods.

WE DEPEND ON BRAND AWARENESS TO GROW OUR BUSINESS.

         The future success of Hoover's will depend, in part, on our ability to
increase our brand awareness. In order to build brand awareness and increase
traffic to our Web site, we must succeed in our marketing efforts and provide
high-quality services. Our ability to increase advertising and subscription
revenues from our Web site will depend in part on the success of our marketing
campaigns and our ability to increase the number of visitors and subscribers to
our Web site. If our marketing efforts are unsuccessful or if we cannot increase
our brand awareness and traffic to our Web site, our business, operating results
and financial condition would be materially and adversely affected.

WE ARE DEPENDENT ON OUR MARKETING RELATIONSHIPS AND OUR BUSINESS COULD BE
MATERIALLY ADVERSELY AFFECTED IF WE WERE TO LOSE OUR EXISTING RELATIONSHIPS OR
FAIL TO GAIN ADDITIONAL STRATEGIC RELATIONSHIPS.

         To expand our audience, we have entered into relationships to integrate
customized versions of our company information into frequently visited and
well-known Web sites, such as America Online, Fortune, the Microsoft Network,
Financial Times and Yahoo!. These relationships may also provide links back to
Hoover's Online. The success of each of our marketing relationships depends on
the amount of increased viewer traffic we receive from that organization's Web
site. These relationships may not generate the number of new viewers that we
expect. Termination of our marketing relationships may decrease our brand
awareness resulting in a fewer number of visitors to our Web site, which may
adversely affect our revenues.

GENERAL ECONOMIC CONDITIONS MAY NEGATIVELY IMPACT OUR OPERATIONS.

         A broad-based recession can cause business and individual customers to
delay or forego entirely investments in value-added business information
products such as ours. Similarly, companies often drastically reduce advertising
expenditures in anticipation of an economic downturn. Thus, a recession in the
United States may have a material adverse effect on each of our revenue streams.
A general slowdown in the economy can cause businesses to reduce discretionary
spending in areas such as advertising and with business information providers as
well as create greater risk of business failure among existing customers. We
have experienced these effects in the last several quarters as a result of the
recent slowdown in the U.S. economy.

INCREASED COMPETITION COULD MATERIALLY AND ADVERSELY AFFECT OUR BUSINESS.

         The market for business information in general and for the online
services and tools offered on Hoover's Online is highly competitive. Many Web
sites and business information providers compete for the attention and spending
of businesspeople and advertisers. We expect this competition to continue to
increase. We compete for subscribers, visitors, licensing and syndication
customers, advertisers, and content providers with many types of companies, such
as:

               -    subscription business information aggregators, such as
                    Dialog (a subsidiary of Thomson), Factiva, LexisNexis
                    and OneSource;

               -    subscription Web sites focused on business, such as The Wall
                    Street Journal Interactive Edition;

               -    providers of company information, such as Dun & Bradstreet,
                    Market Guide (a division of Multex) and Standard & Poor's;

               -    providers of proprietary business information, such as
                    Bloomberg Business News, Dow Jones and Reuters News Service;

               -    other free Web sites with a business orientation such as
                    Business.com and Office.com.; and


                                       16
<Page>

               -    consumer Web portals such as Netscape and Yahoo! that
                    provide selected business information.


We also compete with a number of organizations with which we have other business
relationships, including AOL Time Warner, Bloomberg, Dow Jones, LexisNexis,
Microsoft Network, Multex, Reuters and Yahoo!. We form strategic relationships
with these organizations in order to increase the size of our audience by
introducing Hoover's Online to a greater number of people. Hoover's information
is valued by these organizations and is licensed to them. If these entities view
us as a substantial competitive threat, they may not renew any strategic
relationship agreements currently in place and our audience may decrease.

         Some of our existing competitors, as well as a number of potential new
competitors, have longer operating histories, greater name recognition, larger
customer bases and significantly greater financial, technical and marketing
resources than we do. This may allow them to devote greater resources than we
can to the development and promotion of their services. These competitors may
also undertake more far-reaching marketing campaigns, adopt more aggressive
pricing policies, including offering their business information for free, and
make more attractive offers to existing and potential new employees, businesses
with whom we have strategic relationships and advertisers. Our competitors may
develop content that is equal or superior to ours or that achieves greater
market acceptance than ours. It is also possible that new competitors may emerge
and rapidly acquire significant market share.

         We believe that the Internet industry has seen, and will continue to
see, significant merger and acquisition activity. Some of our competitors may
make strategic acquisitions or establish cooperative relationships among
themselves or with third parties to increase their ability to rapidly gain
market share. If we do not reach critical mass, or do not achieve significant
market share, our ability to compete in a consolidating market could be
negatively impacted.

         As a result of these factors, we may not be able to compete
successfully for advertisers, visitors, customers or staff, which could
materially adversely affect our business, operating results and financial
condition. Increased competition could result in price reductions, reduced
margins or loss of market share, any of which could materially adversely affect
our business, operating results and financial condition.

OUR FUTURE SUCCESS DEPENDS ON OUR EDITORIAL STAFF.

         We depend upon the efforts of our writers, researchers and other
editorial staff to produce original, timely, comprehensive and trustworthy
content. There is competition for these personnel, and we may not be able to
retain existing or attract additional highly qualified staff in the future. If
we lose the services of a significant number of our editorial staff or are
unable to continue to attract additional qualified staff, our business,
operating results and financial condition could be materially adversely
affected.

GROWTH IN OUR FUTURE OPERATIONS COULD CONTINUE TO STRAIN OUR MANAGERIAL,
OPERATIONAL AND FINANCIAL RESOURCES.

         We have experienced growth in our operations and are currently
considering and may pursue other growth opportunities. This growth has placed a
significant strain on our managerial, operational and financial resources. As a
result, we will need to continue to improve our operational and financial
systems and managerial controls and procedures. Our future success will also
depend on our ability to expand, train and manage our workforce, in particular
our sales and marketing personnel. We will also need to maintain close
coordination among our technical, accounting, finance, marketing, sales and
editorial personnel. If we are unable to accomplish any of these objectives, our
business, operating results and financial condition could be materially
adversely affected.

WE ARE DEPENDENT ON OUR KEY CONTENT PROVIDERS AND OUR BUSINESS WOULD BE
MATERIALLY ADVERSELY AFFECTED IF WE WERE TO LOSE AND FAIL TO REPLACE OUR
EXISTING SOURCES OF CONTENT.

         A number of organizations provide us with content that we integrate
into our products. If our relationships with these content providers were
terminated, we would have to eliminate their information from our products and
services. We may also need to locate alternate content providers and integrate
their information into our products and services. Extracting previously
integrated information, locating a new provider and integrating its information
may take time and may interrupt the provision of affected services. We cannot
assure you that we would be able to replace the content we


                                       17
<Page>

currently receive from our content providers in a timely manner, which could
have a material adverse effect on out operating results from failure to retain
existing subscribers and advertisers or attract new subscribers and advertisers.

ACQUISITIONS MAY DISRUPT OR OTHERWISE HAVE A NEGATIVE IMPACT ON OUR BUSINESS.

         We may acquire or make further investments in complementary businesses,
products and technologies. Future acquisitions and investments are subject to
the following risks:

               -    acquisitions may cause a disruption in our ongoing business,
                    distract our management and make it difficult to maintain
                    our standards, controls and procedures;

               -    we may not be able to integrate successfully the services,
                    content, products and personnel of any acquisition into our
                    operations;

               -    we may be required to incur debt or issue debt or equity
                    securities, which may be dilutive to existing stockholders,
                    to pay for acquisitions. We also may be required to assume
                    debt or contingent liabilities, amortize goodwill and other
                    intangibles or write off in-process research and development
                    and other acquisition-related expenses; and

               -    we may not derive the intended benefits of any acquisition
                    and we may lose all or some portion of our entire
                    investment.

EXPANSION INTO INTERNATIONAL MARKETS IN WHICH WE HAVE LIMITED EXPERIENCE COULD
HAVE AN ADVERSE EFFECT ON OUR BUSINESS AND NEGATIVELY IMPACT POTENTIAL
PROFITABILITY.

         We currently have a European operation in London which focuses on
reaching non-U.S.-based customers with native-language versions of Hoover's
Online. To date, we have only limited experience in developing localized
versions of our products, and marketing and operating our products and services
internationally.

         In a number of international markets, especially those in Europe, we
may face substantial competition. Foreign providers of competing online business
information services may have a substantial advantage over us in attracting
users in their country due to more established branding in that country, greater
knowledge with respect to the tastes and preferences of users residing in that
country and/or their focus on a single market. International markets we have
selected may not develop at a rate that supports our level of investment. In
particular, international markets typically are slower than domestic markets in
adopting online advertising and commerce.

         In addition to uncertainty about our ability to continue to generate
revenues from our foreign operations and expand our international presence,
there are certain risks inherent in doing business on an international level,
which may include:

         -        trade barriers and unexpected changes in regulatory
                  requirements;

         -        difficulties in developing, staffing and simultaneously
                  managing a large number of unique foreign operations as a
                  result of distance and language and cultural differences;

         -        higher costs of doing business in foreign countries;

         -        longer payment cycles;

         -        currency exchange rate fluctuations;

         -        political instability and export restrictions;

         -        seasonal reductions in business activity;

         -        risks related to government regulation, including those more
                  fully described below; and


                                       18
<Page>

         -        potentially adverse tax consequences.

         One or more of these factors could have a material adverse effect on
our future international operations and, consequently, on our business,
operating results and financial condition.

WE MAY EXPERIENCE CAPACITY CONSTRAINTS OR SYSTEM FAILURES THAT COULD DAMAGE OUR
BUSINESS.

         If our systems cannot be expanded to cope with increased demand or fail
to perform effectively, we could experience:

         -        disruptions in service;

         -        slower response times;

         -        reduced customer satisfaction;

         -        delays in the introduction of new products and services, or

         -        vulnerability to raids (including denial of service attacks)
                  by third parties,

any of which could impair our reputation, damage the Hoover's brand and
materially adversely affect our business, operating results and financial
condition.

         Our ability to provide high-quality customer service also depends on
the efficient and uninterrupted operation of our computer and communications
hardware systems. We have also experienced minor interruptions due to software
bugs and upgrades and disk-drive failures. These minor interruptions temporarily
limited the capacity of our current technology infrastructure and resulted in
increased calls to our customer service personnel. Our systems and operations
also are vulnerable to damage or interruption from human error, natural
disasters, telecommunication failures, break-ins, sabotage, computer viruses,
intentional acts of vandalism and similar events. We currently do not have
complete redundancy and we do not have alternative providers of hosting services
that are available on short-term notice, nor do we have plans to do so in the
near-term. We are still developing a formal disaster recovery plan. We cannot
assure you that any plan we adopt will be sufficient. We may not carry
sufficient business interruption insurance to compensate for losses that could
occur.

WE MAY BE SUBJECT TO LEGAL CLAIMS IN CONNECTION WITH THE CONTENT WE PUBLISH AND
DISTRIBUTE AND OUR USE OF SOFTWARE LICENSES FOR OUR WEB SITE.

         We may be subject to claims for defamation, negligence, copyright or
trademark infringement based on other theories relating to the information we
publish on our Web site, on the Web sites of others with whom we license or
co-brand our products, or in our books. These types of claims have been brought,
sometimes successfully, against online services, as well as other print
publications in the past. We could also be subject to claims based upon the
content that is accessible from Hoover's Online through links to other Web
sites. We may also be subject to claims for software license infringement based
on the software and other technologies that we utilize on our Web site. Our
insurance may not adequately protect us against these types of claims.

CONCERNS REGARDING SECURITY OF TRANSACTIONS AND TRANSMITTING CONFIDENTIAL
INFORMATION OVER THE INTERNET MAY NEGATIVELY AFFECT OUR REVENUES.

         We believe that concern regarding the security of confidential
information transmitted over the Internet, such as credit card numbers, prevents
many potential customers, especially those outside of the United States, from
engaging in online transactions.

         Our infrastructure is potentially vulnerable to physical or electronic
break-ins, viruses or similar problems. If a person circumvents our security
measures, he or she could misappropriate proprietary information or cause
interruptions in our operations. Security breaches that result in access to
confidential information could damage our reputation and expose us to a risk of
loss or liability. We may be required to make significant investments and
efforts to


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protect against or remedy security breaches. As e-commerce becomes more
prevalent, our audience will become more concerned about security. If we do not
adequately address these concerns, our business, operating results and financial
condition could be materially adversely affected.

THE LOSS OF ANY OF OUR KEY PERSONNEL OR OUR FAILURE TO ATTRACT ADDITIONAL
PERSONNEL COULD HAVE A MATERIAL AND ADVERSE EFFECT ON OUR BUSINESS.

         Our future success will depend, in substantial part, on the continued
service of our senior management, particularly Patrick J. Spain, our Chairman of
the Board, and Jeffrey R. Tarr, our Chief Executive Officer and President. The
Company has entered into employment agreements with these individuals, but such
individuals may terminate their employment with the Company upon 30 days' prior
written notice pursuant to the terms of these agreements. We have also entered
into an employment agreement with Gehan Talwatte, Managing Director of our
Hoover's Online Europe Limited subsidiary, but Mr. Talwatte may terminate his
employment agreement upon three months' prior written notice. No other member of
our senior management has entered into an employment agreement with us, other
than agreements providing for limited severance payments in the event of
termination other than for cause. We do not maintain key-person life insurance
on any of our employees. The loss of the services of one or more of our key
personnel could have a material adverse effect on our business, operating
results and financial condition. Our future success will also depend on our
continuing ability to attract, retain and motivate highly qualified sales,
technical, customer support, financial and accounting and managerial personnel.
There is competition for these qualified personnel, and we cannot assure you
that we will be able to retain our key personnel or that we will be able to
attract, assimilate or retain other highly qualified personnel in the future. We
have from time to time in the past experienced, and we may continue to
experience in the future, difficulty in hiring and retaining employees with
appropriate qualifications.

IF WE FAIL TO ADEQUATELY PROTECT OUR INTELLECTUAL PROPERTY RIGHTS OR FACE A
CLAIM OF INTELLECTUAL PROPERTY INFRINGEMENT BY A THIRD PARTY, WE COULD LOSE OUR
INTELLECTUAL PROPERTY RIGHTS OR BE LIABLE FOR SIGNIFICANT DAMAGES.

         We rely primarily on a combination of copyrights, trademarks, trade
secret laws, our user policy, licensing agreements and restrictions on
disclosure to protect our intellectual property. Despite these precautions, it
may be possible for a third party to copy or otherwise obtain and use the
content on our Web site or our other intellectual property without
authorization. We cannot assure you that our precautions will prevent
misappropriation or infringement of our intellectual property. Failure to
protect our intellectual property in a meaningful manner could have a material
adverse effect on our business, operating results and financial condition. In
addition, we may need to engage in litigation in order to enforce our
intellectual property rights in the future or to determine the validity and
scope of the proprietary rights of others. Any litigation could result in
substantial costs and diversion of management and other resources, either of
which could have a material adverse effect on our business, operating results
and financial condition.

         Because we license some data and content from third parties, our
exposure to copyright infringement actions may increase. We rely upon these
third parties for the origin and ownership of licensed content. We generally
obtain representations of the origins and ownership of licensed content and
generally obtain indemnification to cover any breach of any representations.
However, we cannot assure you that these representations will be accurate or
that indemnification will be sufficient to provide adequate compensation for any
breach of these representations.

         We cannot assure you that infringement or other claims will not be
asserted or prosecuted against us in the future, whether resulting from our
internally developed intellectual property or licenses or content from third
parties. Due to the global nature of the Internet, we may be subject to such
claims asserted under the laws of foreign countries, which may differ
substantially from United States laws. Any future assertions or prosecutions
could materially adversely affect our business, operating results and financial
condition. Any claims, with or without merit, could be time consuming, result in
costly litigation and diversion of technical and management personnel, or
require us to introduce new content or trademarks, develop non-infringing
technology or enter into royalty or licensing agreements. These royalty or
licensing agreements, if required, may not be available on acceptable terms, if
at all. In the event a claim of infringement is successful and we fail or are
unable to introduce new content, develop non-infringing technology or license
the infringed or similar technology on a timely basis, our business, operating
results and financial condition could be materially and adversely affected.

OUR COMMON STOCK PRICE IS VOLATILE AND COULD FLUCTUATE SIGNIFICANTLY.


                                       20
<Page>

         The trading price of our stock has been and may continue to be subject
to wide fluctuations. Our stock price may fluctuate in response to a number of
events and factors, such as quarterly variations in operating results;
announcements of new products, technology or strategic relationships by us or
our competitors; changes in financial estimates and recommendations by
securities analysts; the operating and stock price performance of other
companies that investors may deem comparable; and news reports relating to
trends in our markets. In addition, the stock markets in general, and the market
prices for Internet-related companies in particular, have experienced extreme
volatility that often has been unrelated to the operating performance of such
companies. These broad market and industry fluctuations may adversely affect the
price of our common stock, regardless of our operating performance.

FUTURE SALES OF OUR COMMON STOCK MAY AFFECT THE MARKET PRICE OF OUR COMMON
STOCK.

         As of June 30, 2001, we had 15,373,175 shares of common stock
outstanding, net of treasury stock, excluding 3,549,767 shares subject to
options outstanding as of such date under our stock option plans. We cannot
predict the effect, if any, that future sales of common stock or the
availability of shares of common stock for future sale will have on the market
price of common stock prevailing from time to time. Various holders of our
common stock have registration rights with respect to their shares. Sales of
substantial amounts of common stock (including shares issued upon the exercise
of stock options), or the perception that such sales could occur, may
materially and adversely affect prevailing market prices for common stock.
Future sales of our common stock may depress our stock price and might make it
more difficult for us to sell equity securities in the future at a time and
price that we otherwise might deem appropriate.

WE DEPEND ON THE CONTINUED GROWTH IN USE AND EFFICIENT OPERATION OF THE
INTERNET.

         The online information market is rapidly evolving. Our business would
be materially adversely affected if online usage does not continue to grow or
grows more slowly than anticipated.

         Online usage may be inhibited for a number of reasons, including:

                  -      inadequate network infrastructure;

                  -      security concerns;

                  -      inconsistent quality of service; and

                  -      unavailability of cost-effective, high-speed access
                         to the Internet.

         Our audience depends on Internet Service Providers, online service
providers, corporate networks, and other Web site operators for access to our
Web site. Many of these services have experienced significant service outages in
the past and could experience service outages, delays and other difficulties due
to system failure unrelated to our systems. These occurrences could cause our
visitors to perceive the Internet in general or our Web site in particular as
unreliable and, therefore, cause them to use other media to obtain their company
and business information. We also depend on third-party information providers to
deliver information and data feeds to us on a timely basis. Our Web site could
experience disruptions or interruptions in service due to the failure or delay
in the transmission or receipt of this information, which could have a material
adverse effect on our business, operating results and financial condition.

WE CANNOT PREDICT THE SIZE OR VIABILITY OF THE ONLINE INFORMATION SERVICES
MARKET.

         The market for our online business information services is rapidly
evolving and is characterized by an increasing number of market entrants. As is
typical of a rapidly evolving industry, demand and market acceptance for
recently introduced services are subject to a high level of uncertainty and
risk. Because of these factors, it is difficult to predict the future growth
rate, if any, and size of this market. We cannot assure you that the market for
our online business information services will continue to develop. If the use of
online business information services fails to continue to grow, our ability to
establish other online services would be materially and adversely affected. In
addition, our business strategy includes extending our online business
information services model to additional segments of business information. We
cannot assure you that we will be successful in our efforts.

IF WE CANNOT KEEP PACE WITH RAPIDLY CHANGING TECHNOLOGY AND THE DEMANDS OF OUR
CUSTOMERS, WE MAY BE UNABLE TO ENHANCE OUR EXISTING SERVICES OR INTRODUCE NEW
SERVICES.


                                       21
<Page>

         The market in which we operate is characterized by rapidly changing
technology; evolving industry standards; frequent new service announcements,
introductions and enhancements; and evolving customer demands. The emerging
nature of the Internet and the electronic distribution of business information,
including distribution through wireless channels and products, exacerbate these
market characteristics. Accordingly, our future success will depend on our
ability to adapt to rapidly changing technologies and industry standards, and
our ability to continually improve the performance, features and reliability of
our services in response to both evolving customer demands and competitive
service offerings. Our inability to adapt successfully to these changes in a
timely manner could have a material and adverse effect on our business,
operating results and financial condition. Furthermore, we may experience
difficulties that could delay or prevent the successful design, development,
testing, introduction or marketing of new services. Any enhancements to existing
services may not adequately meet the requirements of our current and prospective
customers or achieve any degree of significant market acceptance. If we are
unable, for technological or other reasons, to develop and introduce new
services or enhancements to existing services in a timely manner or in response
to changing market conditions or customer requirements, or if our services or
enhancements contain defects or do not achieve a significant degree of market
acceptance, our business, results of operations and financial condition would be
materially adversely affected.

PRIVACY CONCERNS MAY HAVE AN ADVERSE EFFECT ON OUR BUSINESS AND MAY PREVENT OUR
USE OF COOKIES.

         We post privacy policies concerning the use and disclosure of user
data. Any failure by us to comply with our posted privacy policies, Federal
Trade Commission ("FTC") requirements or other privacy-related laws and
regulations could result in proceedings by the FTC or others and could
potentially have an adverse effect on our business, results of operations and
financial condition. In this regard, there are a large number of legislative
proposals before the United States Congress and various state legislative bodies
regarding privacy issues that may be related to our business. It is not possible
to predict whether or when such legislation may be adopted, and certain
proposals, if adopted, could materially and adversely affect our business
through a decrease in user registrations, or purchases conducted through our Web
sites and the corresponding revenues.

         Web sites typically place information known as cookies on a user's hard
drive without the user's knowledge or consent. Web sites use cookies for a
variety of reasons. This technology enables our subscribers to access our
premium services without entering their password upon each visit. Additionally,
it allows us to limit the frequency with which a viewer is shown a particular
advertisement. Any reduction or limitation in the use of cookies could adversely
affect our ability to target advertising effectively. Commonly used Internet
browsers allow users to modify their browser settings to remove cookies at any
time or to prevent cookies from being stored on their hard drives. In addition,
some Internet commentators, privacy advocates and governmental bodies have
suggested limiting or eliminating the use of cookies. The use of cookies may
become more restrictive in certain non-U.S. markets, which could impact the rate
or success of expansion into those markets.

WE MAY BECOME SUBJECT TO BURDENSOME GOVERNMENT REGULATION AND LEGAL
UNCERTAINTIES.

         The laws governing the Internet in general remain largely unsettled,
even in areas where there has been some legislative action. It may take years to
determine whether and how existing laws, including those governing intellectual
property, privacy, libel and taxation, apply to the Internet generally and the
electronic distribution of business information in particular. Legislation could
reduce the growth in the use of the Internet generally and decrease the
acceptance of the Internet as a communications and commercial medium, which
could have a material adverse effect on our business, operating results and
financial condition. In addition, the growing popularity and use of the Internet
has burdened the existing telecommunications infrastructure and many areas with
high Internet usage have begun to experience interruptions in phone service. As
a result, some local telephone carriers have petitioned governmental agencies to
regulate Internet service providers and online service providers in a manner
similar to long-distance telephone carriers and to impose access fees on
Internet service providers and online service providers. If any of these
petitions or the relief that they seek is granted, the costs of communicating on
the Internet could increase substantially, potentially adversely affecting the
growth of the Internet. Further, due to the global nature of the Internet, it is
possible that, although transmissions relating to our services originate in the
State of Texas, governments of other states, the United States or foreign
countries might attempt to regulate our service or levy sales or other taxes on
our activities. In Texas, sales of goods over the Internet are taxed the same as
sales of personal property through traditional channels. As a result, Internet
companies based in Texas, like us, may be at a competitive disadvantage to
Internet companies based outside of Texas with respect to sales to Texas-based
customers. We cannot assure you that violations of local or other


                                       22
<Page>

laws will not be alleged or charged by governmental authorities, that we might
not unintentionally violate these laws or that in the future these laws will not
be modified or new laws enacted. Any of these developments could have a material
adverse effect on our business, operating results and financial condition.

ITEM 3.           QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

         Hoover's has capital lease obligations, which result in the risk that
interest expense or the fair value of capital lease obligations might be
impacted by changes in market interest rates. However, because these are not
significant, market risks related to financial instruments are not material.

         On July 26, 1999, upon the closing of our initial public offering of
common stock, we received approximately $48 million in proceeds from the
underwriters of the offering. To date, these proceeds have been invested in
money market funds backed by short-term government securities and other
short-term, investment-grade, interest-bearing instruments. Market risks related
to these financial instruments are not material.

PART II.          OTHER INFORMATION

ITEM 1.           LEGAL PROCEEDINGS

         We are not currently subject to any material legal proceedings.

ITEM 2:           PROPERTIES

         Our corporate headquarters is located in Austin, Texas, at 5800
Airport Blvd., where we occupy 59,439 square feet, with a commitment by
Hoover's to expand to 77,735 square feet within the next year, under a lease
that expires in April 2011. As of August 1, 2001 we lease a 2,300-square-foot
office in Manhatten,  New York at 1700 Broadway.  We also lease 1,725 square
feet in San Francisco, California, at 605 Market Street and through our HEU
subsidiary, 1,675 square feet in London, U.K., at 5 Lambton Place. We consider
our properties to be suitable and adequate for our present needs.

ITEM 3.           CHANGES IN SECURITIES AND USE OF PROCEEDS

         Our registration statement, filed on Form S-1 under the Securities Act
of 1933 (No. 333-78109) relating to our initial public offering of our common
stock, became effective July 20, 1999. Offering proceeds, net of aggregate
expenses of approximately $1 million, were $48 million. The Company has used
approximately $15.1 million of the net offering proceeds for working capital
purposes, $6.7 million for the purchase and installation of computer and related
equipment and software and $26.1 million has been invested in money market funds
backed by government securities and other short-term, investment-grade,
interest-bearing instruments pending further application of such proceeds.

ITEM 4.           DEFAULTS UPON SENIOR SECURITIES

         None.

ITEM 5.           SUBMISSION OF MATTERS TO A VOTE OF SECURITIES HOLDERS

         We held a Special Stockholders' Meeting on May 24, 2001, in Austin,
Texas. At that meeting, a proposal to reduce the number of shares of our common
stock authorized from 150,000,000 to 50,000,000 was submitted to our
stockholders. The proposal was submitted to a vote of our stockholders of record
as of March 26, 2001 (a total of 15,438,828 shares were outstanding as of such
date.) The proposal received 13,070,021 votes for, 6,490 votes against, with
45,250 abstentions. Consequently, the proposal passed, and an amendment to our
Amended and Restated Certificate of Incorporation was filed with the Delaware
Secretary of State reflecting the reduction in authorized shares.


                                       23
<Page>

ITEM 6.           OTHER INFORMATION

         None.

ITEM 7.           EXHIBITS

10.1     Employment Agreement dated May 22, 2001, between Hoover's, Inc. and
         Jeffrey R. Tarr, (portions of this exhibit have been omitted pursuant
         to a request for confidential treatment).

10.2     Employment Agreement dated May 23, 2001, between Hoover's, Inc. and
         Patrick J. Spain, (portions of this exhibit have been omitted pursuant
         to a request for confidential treatment).

10.3     Employment Agreement dated May 10, 2000, between Hoover's Online Europe
         Limited and Gehan Talwatte.

10.4     Form of Severance Agreement entered into as of May 9, 2001 entered into
         with executive officers Lynn Atchison, Tom Ballard, Kris Rao, Carl
         Shepherd and Jani Farlow Spede (portions of this exhibit have been
         omitted pursuant to a request for confidential treatment).


                                       24
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                                   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.

                                              HOOVER'S, INC


     August 14, 2001                      /s/ Jeffrey R. Tarr
---------------------------    -------------------------------------------------
          Date                             Jeffrey R. Tarr
                                        CHIEF EXECUTIVE OFFICER
                                             AND PRESIDENT
                                     (PRINCIPAL EXECUTIVE OFFICER)


     August 14, 2001                       /s/ Lynn Atchison
---------------------------    -------------------------------------------------
         Date                               Lynn Atchison
                                       SENIOR VICE PRESIDENT AND
                                        CHIEF FINANCIAL OFFICER
                               (PRINCIPAL FINANCIAL AND ACCOUNTING OFFICER)


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