<Page>
________________________________________________________________________________

                    U.S. SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                              -------------------

                                   FORM 10-Q

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

                 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2002

                                       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: 000-23709

                              -------------------

                                DOUBLECLICK INC.
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

<Table>
<S>                                            <C>
                  DELAWARE                                      13-3870996
       (STATE OR OTHER JURISDICTION OF                       (I.R.S. EMPLOYER
       INCORPORATION OR ORGANIZATION)                     IDENTIFICATION NUMBER)
</Table>

                        450 WEST 33RD STREET, 16TH FLOOR
                            NEW YORK, NEW YORK 10001
                                 (212) 683-0001
       (ADDRESS, INCLUDING ZIP CODE AND TELEPHONE NUMBER, INCLUDING AREA
               CODE OF REGISTRANT'S PRINCIPAL EXECUTIVE OFFICES)

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

As of May 1, 2002 there were 136,125,057 outstanding shares of the registrant's
Common Stock, including 207,325 shares exchangeable into shares of the
registrant's common stock, which were issued in connection with the registrant's
acquisition of FloNetwork Inc.
________________________________________________________________________________






<Page>
                                DOUBLECLICK INC.
                               INDEX TO FORM 10-Q

<Table>
<S>      <C>                                                           <C>
PART I: FINANCIAL INFORMATION

Item 1:  Financial Statements (unaudited)
         Consolidated Balance Sheets as of March 31, 2002 and
           December 31, 2001.........................................    1
         Consolidated Statements of Operations for the three months
           ended March 31, 2002 and 2001.............................    2
         Consolidated Statements of Cash Flows for the three months
           ended March 31, 2002 and 2001.............................    3
         Notes to Consolidated Financial Statements..................    4
Item 2:  Management's Discussion and Analysis of Financial Condition
           and Results of Operations.................................   12
Item 3:  Quantitative and Qualitative Disclosures about Market
           Risk......................................................   18

PART II: OTHER INFORMATION

Item 1:  Legal Proceedings...........................................   32
Item 6:  Exhibits and Reports on Form 8-K............................   33
</Table>

                                       ii





<Page>
ITEM 1. FINANCIAL STATEMENTS

                                DOUBLECLICK INC.
                          CONSOLIDATED BALANCE SHEETS
                 (UNAUDITED, IN THOUSANDS EXCEPT SHARE AMOUNTS)

<Table>
<Caption>
                                                               MARCH 31,    DECEMBER 31,
                                                                 2002           2001
                                                                 ----           ----
<S>                                                           <C>           <C>
                           ASSETS
CURRENT ASSETS:
    Cash and cash equivalents...............................  $  121,801     $   99,511
    Investments in marketable securities....................     295,052        339,996
    Accounts receivable, net of allowances of $20,235 and
      $21,579, respectively.................................      62,354         81,412
    Prepaid expenses and other current assets...............      39,447         35,180
                                                              ----------     ----------
        Total current assets................................     518,654        556,099
Investments in marketable securities........................     309,111        295,019
Restricted cash.............................................      19,210         17,636
Property and equipment, net.................................     144,783        156,996
Goodwill....................................................      76,627         57,567
Intangible assets, net......................................      20,588         21,845
Investments in affiliates...................................      31,550         24,128
Other assets................................................       8,952          9,063
                                                              ----------     ----------
        Total assets........................................  $1,129,475     $1,138,353
                                                              ----------     ----------
                                                              ----------     ----------

            LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
    Accounts payable........................................  $   22,340     $   32,718
    Accrued expenses and other current liabilities..........      93,336        102,892
    Deferred revenue........................................      14,200         13,849
                                                              ----------     ----------
        Total current liabilities...........................     129,876        149,459
Long-term obligations and notes.............................      49,010         46,414
Convertible subordinated notes..............................     219,700        219,700
Minority interest...........................................      19,270         19,457

STOCKHOLDERS' EQUITY:
    Preferred stock, par value $0.001; 5,000,000 shares
      authorized, none outstanding..........................          --             --
    Common stock, par value $0.001; 400,000,000 shares
      authorized, 136,829,677 and 134,799,135 shares issued,
      respectively..........................................         137            135
    Treasury stock, 765,170 shares..........................      (4,466)        (4,466)
    Additional paid-in capital..............................   1,277,919      1,265,953
    Accumulated deficit.....................................    (554,596)      (548,552)
    Other accumulated comprehensive loss....................      (7,375)        (9,747)
                                                              ----------     ----------
        Total stockholders' equity..........................     711,619        703,323
                                                              ----------     ----------
        Total liabilities and stockholders' equity..........  $1,129,475     $1,138,353
                                                              ----------     ----------
                                                              ----------     ----------
</Table>

  The accompanying notes are an integral part of these consolidated financial
                                  statements.

                                       1




<Page>
                                DOUBLECLICK INC.
                     CONSOLIDATED STATEMENTS OF OPERATIONS
               (UNAUDITED, IN THOUSANDS EXCEPT PER SHARE AMOUNTS)

<Table>
<Caption>
                                                              THREE MONTHS ENDED
                                                                   MARCH 31,
                                                              -------------------
                                                                2002       2001
                                                                ----       ----
<S>                                                           <C>        <C>
Revenue.....................................................  $ 83,656   $114,870
Cost of revenue.............................................    31,999     50,336
                                                              --------   --------
    Gross profit............................................    51,657     64,534
Operating expenses:
    Sales and marketing (inclusive of non-cash compensation
      of $4,729 in 2001)....................................    29,821     55,148
    General and administrative (inclusive of non-cash
      compensation of $107 in 2001).........................    12,027     19,642
    Product development.....................................    10,902     13,949
    Goodwill amortization...................................        --      8,674
    Amortization of intangibles.............................     3,144      1,943
    Restructuring charge....................................     1,440     29,033
                                                              --------   --------
        Total operating expenses............................    57,334    128,389
Loss from operations........................................    (5,677)   (63,855)
Other income (expense):
    Equity in income (losses) of affiliates.................        60     (1,145)
    Loss on sale of business................................    (1,372)        --
    Loss on equity transactions of affiliate................        --     (3,757)
    Interest and other, net.................................     3,392      8,766
                                                              --------   --------
        Total other income (expense)........................     2,080      3,864
Loss before income taxes....................................    (3,597)   (59,991)
Provision for income taxes..................................    (2,634)    (1,059)
                                                              --------   --------
Loss before minority interest...............................    (6,231)   (61,050)
Minority interest...........................................       187        631
                                                              --------   --------
Net loss....................................................  $ (6,044)  $(60,419)
                                                              --------   --------
                                                              --------   --------
Basic and diluted net loss per share........................  $  (0.04)  $  (0.48)
                                                              --------   --------
                                                              --------   --------
Weighted-average shares used in net loss per share -- basic
  and diluted...............................................   135,218    126,610
                                                              --------   --------
                                                              --------   --------
</Table>

  The accompanying notes are an integral part of these consolidated financial
                                  statements.

                                       2




<Page>
                                DOUBLECLICK INC.
                     CONSOLIDATED STATEMENTS OF CASH FLOWS
                           (UNAUDITED, IN THOUSANDS)

<Table>
<Caption>
                                                               THREE MONTHS ENDED
                                                                    MARCH 31,
                                                              ---------------------
                                                                2002        2001
                                                                ----        ----
<S>                                                           <C>         <C>
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss....................................................  $  (6,044)  $ (60,419)
Adjustments to reconcile net loss to net cash provided by
  operating activities:
    Depreciation and leasehold amortization.................     10,753      12,717
    Goodwill amortization...................................         --       8,674
    Amortization of intangible assets.......................      3,586       1,943
    Equity in (income) losses of affiliates.................        (60)      1,145
    Loss on equity transactions of affiliate................         --       3,757
    Write-off of fixed assets...............................        690         500
    Minority interest.......................................       (187)       (631)
    Non-cash restructuring charge...........................         --      12,857
    Non-cash compensation...................................         --       4,836
    Other non-cash charges..................................        778         120
    Provision for bad debts and advertiser discounts........      4,821       9,264
    Changes in operating assets and liabilities:
        Accounts receivable.................................      9,149      11,021
        Prepaid expenses and other assets...................     (3,738)       (503)
        Accounts payable....................................     (5,294)     (6,985)
        Accrued expenses....................................    (12,760)      6,849
        Other liabilities...................................      3,899       1,291
        Deferred revenue....................................      1,104      (5,289)
                                                              ---------   ---------
            NET CASH PROVIDED BY OPERATING ACTIVITIES.......      6,697       1,147
CASH FLOWS FROM INVESTING ACTIVITIES
    Purchases of investments in marketable securities.......   (113,279)   (111,748)
    Maturities of investments in marketable securities......    138,048     197,659
    Purchases of property, plant and equipment..............     (1,712)    (29,301)
    Investments in affiliates and other.....................         --        (963)
    Proceeds from sale of email List Services division......      1,960          --
    Acquisitions of businesses and intangible assets, net of
      cash acquired.........................................     (2,574)    (17,630)
                                                              ---------   ---------
            NET CASH PROVIDED BY INVESTING ACTIVITIES.......     22,443      38,017
CASH FLOWS FROM FINANCING ACTIVITIES
    Proceeds from the issuance of common stock..............        761       1,521
    Proceeds from the exercise of stock options.............      2,681       1,348
    Proceeds from notes payable.............................         --         510
    Payment of notes and capital lease obligations..........     (8,737)       (743)
    Other...................................................     (1,000)       (250)
                                                              ---------   ---------
            NET CASH (USED IN) PROVIDED BY FINANCING
              ACTIVITIES....................................     (6,295)      2,386
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH
  EQUIVALENTS...............................................       (555)     (2,898)
                                                              ---------   ---------
NET INCREASE IN CASH AND CASH EQUIVALENTS...................     22,290      38,652
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD............     99,511     193,682
                                                              ---------   ---------
CASH AND CASH EQUIVALENTS AT END OF PERIOD..................  $ 121,801   $ 232,334
                                                              ---------   ---------
                                                              ---------   ---------
</Table>

  The accompanying notes are an integral part of these consolidated financial
                                  statements.

                                       3




<Page>
                                DOUBLECLICK INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                  (UNAUDITED)

NOTE 1 -- DESCRIPTION OF BUSINESS AND OTHER

DESCRIPTION OF BUSINESS

    DoubleClick Inc. is a leading provider of products and services that enable
direct marketers, publishers and advertisers to market to consumers in the
digital world (together with its subsidiaries, 'DoubleClick'). Combining
technology, media and data expertise, DoubleClick's products and services help
its customers optimize their advertising and marketing campaigns on the Internet
and through other media. DoubleClick offers a broad range of technology, media
and data products and services to its customers to allow them to address all
aspects of the digital marketing process, from pre-campaign planning and
testing, to execution, measurement and campaign refinements.

    DoubleClick derives its revenues from three business units: Technology (or
'TechSolutions'), Media and Data based on the types of services provided.
DoubleClick TechSolutions includes our ad management products consisting of the
DART for Publishers Service, the DART Enterprise ad serving software product,
the DART for Advertisers Service and a suite of email products based on
DoubleClick's DARTmail Service. DoubleClick Media consists of the DoubleClick
network, which provides fully outsourced and effective ad sales and related
services to a worldwide group of advertisers and publishers. DoubleClick Data
includes its Abacus division which utilizes the information contributed to the
proprietary Abacus database by Abacus Alliance members to make direct marketing
more effective for Abacus Alliance members and other clients. DoubleClick Data
also includes DoubleClick's research division, which primarily consists of the
@plan products and services. Our research division offers Web publishers
sophisticated research about online market and advanced campaign tools and
planning systems. On May 6, 2002, DoubleClick sold its @plan research product
line to NetRatings, Inc. a provider of technology-driven Internet audience
information solutions for media and commerce.

BASIS OF PRESENTATION

    The accompanying consolidated financial statements include the accounts of
DoubleClick, its wholly-owned subsidiaries, and subsidiaries over which it
exercises a controlling financial interest. All significant intercompany
transactions and balances have been eliminated. Investments in entities in which
DoubleClick does not have a controlling financial interest, but over which it
has significant influence are accounted for using the equity method. Investments
in which DoubleClick does not have the ability to exercise significant influence
are accounted for using the cost method.

    The accompanying interim consolidated financial statements are unaudited,
but in the opinion of management, contain all the normal, recurring adjustments
considered necessary to present fairly the financial position, the results of
operations and cash flows for the periods presented in conformity with generally
accepted accounting principles applicable to interim periods. Results of
operations are not necessarily indicative of the results expected for the full
fiscal year or for any future period.

    The accompanying consolidated financial statements should be read in
conjunction with the audited consolidated financial statements of DoubleClick
for the year ended December 31, 2001. Certain reclassifications have been made
to the prior period's financial statements to conform to the current period
presentation.

BASIC AND DILUTED NET LOSS PER COMMON SHARE

    Basic net loss per common share excludes the effect of potentially dilutive
securities and is computed by dividing the net loss available to common
shareholders by the weighted-average number of common shares outstanding for the
reporting period. Diluted net loss per share adjusts this calculation to reflect
the impact of outstanding convertible securities, stock options and other
potentially dilutive financial instruments to the extent that their inclusion
would have a dilutive effect on net loss per share for the reporting period.

                                       4




<Page>
                                DOUBLECLICK INC.
           NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED)
                                  (UNAUDITED)

    At March 31, 2002, and 2001, outstanding options of approximately 21.7
million and 21.9 million, respectively, to purchase shares of common stock were
not included in the computation of diluted net loss per share because to do so
would have had an antidilutive effect for the periods presented. Similarly, at
March 31, 2002 and 2001, the computation of diluted net loss per share excludes
the effect of 5,326,055 and 6,060,606 shares, respectively, issuable upon the
conversion of 4.75% Convertible Subordinated Notes due 2006, since their
inclusion would also have had an antidilutive effect. As a result, the basic and
diluted net loss per share amounts are equal for all periods presented.

ISSUANCE OF STOCK BY AFFILIATES

    Changes in DoubleClick's interest in its affiliates arising as the result of
their issuance of common stock are recorded as gains and losses in the
consolidated statement of operations, except for any transactions that must be
recorded directly to equity in accordance with the provisions of Staff
Accounting Bulletin ('SAB') No. 51.

NEW ACCOUNTING PRONOUNCEMENTS

    In June 2001, the FASB issued SFAS No. 141, `Business Combinations' and SFAS
No. 142, `Goodwill and Other Intangible Assets.' SFAS No. 141 established new
standards for accounting and reporting requirements for business combinations
and requires that the purchase method of accounting be used for all business
combinations initiated after June 30, 2001. Use of the pooling-of-interests
method is prohibited. SFAS No. 142 established new standards for goodwill
acquired in a business combination, eliminated amortization of goodwill and set
forth methods to periodically evaluate goodwill for impairment. Intangible
assets with a determinable useful life will continue to be amortized over that
life. SFAS 141 and 142 are effective for business combinations completed after
June 30, 2001. DoubleClick adopted these statements on January 1, 2002; however,
as noted above, certain provisions of these new standards apply to acquisitions
concluded subsequent to June 30, 2001. Management is in the process of testing
goodwill for impairment in connection with the adoption of SFAS No. 142, and
will record such impairment, if any, as a cumulative effect of change in
accounting principle.

    In August 2001, the FASB issued Statement of Financial Accounting Standards
No. 144, `Accounting for the Impairment or Disposal of Long-Lived Assets' (FAS
144), which supersedes FASB Statement No. 121, `Accounting for the Impairment of
Long-Lived Assets and for Long-Lived Assets to be Disposed Of'. This new
statement also supercedes certain aspects of APB 30, `Reporting the Results of
Operations-Reporting the Effects of Disposal of a Segment of a Business, and
Extraordinary, Unusual, and Infrequently Occurring Events and Transactions',
with regard to reporting the effects of a disposal of a segment of a business.
FAS 144 will require expected future operating losses from discontinued
operations to be reported in discontinued operations in the period incurred
rather than as of the measurement date as presently required by APB 30. In
addition, more dispositions may qualify for discontinued operations treatment.
The provisions of this statement are required to be applied for fiscal years
beginning after December 15, 2001, and interim periods within those fiscal
years. The adoption of FAS 144 did not have a material impact on DoubleClick's
results of operations or financial position.

CHANGE IN ACCOUNTING ESTIMATE

    Effective January 1, 2002, DoubleClick changed its estimate relating to the
useful lives of production equipment and software. The estimated useful life for
these assets was extended from three years to four years to recognize
depreciation expense over the remaining time that the assets will be in service.
The change was based on an analysis performed by DoubleClick's operations
department. As a result of the change, net income was increased approximately
$2.9 million or $.02 per basic and diluted share in the first quarter of 2002.

                                       5




<Page>
                                DOUBLECLICK INC.
           NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED)
                                  (UNAUDITED)

NOTE 2 -- GOODWILL

    The changes in the carrying amount of goodwill for the three months ended
March 31, 2002 are as follows:

<Table>
<Caption>
                                                    TECH      MEDIA     DATA     TOTAL
                                                    ----      -----     ----     -----
                                                              (IN THOUSANDS)
<S>                                                <C>       <C>       <C>      <C>
Balance at January 1, 2002.......................  $35,806   $14,276   $7,485   $57,567
Acquisition of MessageMedia......................   25,346        --       --    25,346
Sale of European Media business..................       --    (6,186)      --    (6,186)
Effect of foreign currency translation...........       --      (100)      --      (100)
                                                   -------   -------   ------   -------
Balance at March 31, 2002........................  $61,152   $ 7,990   $7,485   $76,627
                                                   -------   -------   ------   -------
                                                   -------   -------   ------   -------
</Table>

    Due to the adoption of SFAS No. 142, the Company ceased amortizing goodwill.
Had SFAS No. 142 been in effect in the first quarter of 2001, the Company would
not have recorded goodwill amortization expense of $8.7 million. The following
adjusts reported net loss and basic and diluted net loss per share as if the
adoption of SFAS No. 142 occurred as of January 1, 2001.

<Table>
<Caption>
                                                           THREE MONTHS ENDED MARCH 31,
                                                -------------------------------------------------
                                                         2002                       2001
                                                         ----                       ----
                                                     (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
<S>                                             <C>                               <C>
Reported net loss.............................         $(6,044)                   $(60,419)
Add back: goodwill amortization...............              --                       8,674
                                                       -------                    --------
Adjusted net loss.............................         $(6,044)                   $(51,745)
                                                       -------                    --------
                                                       -------                    --------
Reported basic and diluted net loss per
  share.......................................         $ (0.04)                   $  (0.48)
Add back: goodwill amortization...............              --                        0.07
                                                       -------                    --------
Adjusted basic and diluted net loss per
  share.......................................         $ (0.04)                   $  (0.41)
                                                       -------                    --------
                                                       -------                    --------
</Table>

NOTE 3 -- INTANGIBLE ASSETS

    Intangible assets consists of the following:

<Table>
<Caption>
                                                    MARCH 31, 2002
                       ESTIMATED   -------------------------------------------------   DECEMBER 31, 2001
                        USEFUL     GROSS CARRYING   ACCUMULATED                        -----------------
                         LIFE          AMOUNT       AMORTIZATION          NET                 NET
                         ----          ------       ------------          ---                 ---
                                                        (IN THOUSANDS)
<S>                    <C>         <C>              <C>            <C>                 <C>
Intangible assets:
    Patents and
      trademarks.....   3 years       $ 9,723         $ (4,637)         $ 5,086             $ 5,896
    Customer lists...   2 years        21,913          (10,253)          11,660              11,507
    Purchased
      technology and
      other..........   3 years         5,506           (1,664)           3,842               4,442
                                      -------         --------          -------             -------
                                      $37,142         $(16,554)         $20,588             $21,845
                                      -------         --------          -------             -------
                                      -------         --------          -------             -------
</Table>

    Amortization expense for the quarter ended March 31, 2002 was $3.6 million.
Amortization expense relating to these intangible assets is estimated to be
$13.7 million, $9.7 million, and $0.8 million in 2002, 2003 and 2004,
respectively.

                                       6




<Page>
                                DOUBLECLICK INC.
           NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED)
                                  (UNAUDITED)

NOTE 4 -- BUSINESS TRANSACTIONS

MESSAGEMEDIA

    On January 18, 2002, DoubleClick completed its acquisition of MessageMedia,
Inc. ('MessageMedia'), a provider of permission-based, email marketing and
messaging solutions. The acquisition of MessageMedia allows DoubleClick to
expand its suite of email product and service offerings as well as broaden its
client base.

    DoubleClick acquired all the outstanding shares, options and warrants of
MessageMedia in exchange for approximately one million shares of DoubleClick
common stock valued at approximately $7.5 million, and stock options and
warrants to acquire DoubleClick common stock valued at approximately $0.2
million. In connection with the acquisition, DoubleClick loaned $2.0 million to
MessageMedia to satisfy MessageMedia's operating requirements. The loan was
extinguished upon the closing of the acquisition and included as a component of
the purchase price. The purchase price, inclusive of approximately $1.6 million
of direct acquisition costs, was approximately $11.3 million. The value of the
approximately one million shares of DoubleClick common stock issued was
determined based on the average market price of DoubleClick common stock, as
quoted on the Nasdaq National Market, for the day immediately prior to, the day
of, and the day immediately after the number of shares due to MessageMedia
shareholders became irrevocably fixed pursuant to the agreement under which
MessageMedia was acquired. The MessageMedia options and warrants assumed by
DoubleClick as the result of this merger converted into options and warrants to
acquire approximately 120,000 shares of DoubleClick common stock and have been
valued using the Black-Scholes option pricing model with the following
weighted-average assumptions:

<Table>
<S>                                                           <C>
Expected dividend yield.....................................  0.0%
Risk-free interest rate.....................................  3.7%
Expected life (in years)....................................  3.6
Volatility..................................................  100%
</Table>

    The aggregate purchase price of $11.3 million, has been preliminarily
allocated to the assets acquired and the liabilities assumed according to their
fair values at the date of acquisition as follows (in millions):

<Table>
<S>                                                           <C>
Current assets..............................................  $  4.7
Other intangible assets.....................................     1.9
Goodwill....................................................    25.3
Other non-current assets....................................     4.3
                                                              ------
    Total assets acquired...................................  $ 36.2
    Total liabilities assumed...............................  $(24.9)
                                                              ------
Net assets acquired.........................................  $ 11.3
                                                              ------
                                                              ------
</Table>

    Approximately $1.9 million of the purchase price has been allocated to
customer lists and is being amortized on a straight-line basis over 2 years.
DoubleClick has also recorded approximately $25.3 million in goodwill, which
represents the remainder of the excess of the purchase price over the fair value
of net assets acquired. This goodwill is not tax deductible and in accordance
with SFAS 142, goodwill will be periodically tested for impairment.
DoubleClick is still awaiting information regarding certain assets and
liabilities we acquired pertaining to MessageMedia's European operations. Any
potential adjustment to goodwill will be recorded during the three months
ended June 30, 2002 and is not expected to be material.

    The results of operations for MessageMedia have been included in
DoubleClick's consolidated statements of operations from the date of
acquisition.

    The following unaudited pro forma results of operations have been prepared
assuming that the acquisition of MessageMedia described above, and the
FloNetwork and @plan acquisitions consummated during 2001, occurred at the
beginning of the respective periods presented. This pro forma financial
information should not be considered indicative of the actual results that would
have been

                                       7




<Page>
                                DOUBLECLICK INC.
           NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED)
                                  (UNAUDITED)

achieved had the acquisitions been consummated on the dates indicated and does
not purport to indicate results of operations as of any future date or any
future period.

<Table>
<Caption>
                                                                THREE MONTHS ENDED
                                                                    MARCH 31,
                                                              ----------------------
                                                                2002         2001
                                                                ----         ----
                                                              (IN THOUSANDS, EXCEPT
                                                                PER SHARE AMOUNTS)
<S>                                                           <C>         <C>
Revenues....................................................   $85,057     $129,961
Amortization of intangible assets...........................     3,224       17,083
Net loss....................................................   $(8,406)    $(85,647)
Net loss per basic and diluted share........................   $ (0.06)    $  (0.65)
</Table>

NOTE 5 -- INVESTMENT IN VALUECLICK, INC.

    In the first quarter of 2001, DoubleClick recorded the effects of
ValueClick's issuance of approximately 5.7 million shares to complete a purchase
acquisition of Bach Systems, Inc. ('Bach Systems') and to consummate
ValueClick's pooling of interests merger with ClickAgents.com, Inc.
('ClickAgents'). DoubleClick has treated ValueClick's pooling with ClickAgents
as a book value purchase of ClickAgents by ValueClick. As a result of these
transactions, DoubleClick's ownership interest was reduced from 28.1% to 23.5%
and the value of its proportionate share of ValueClick's net assets decreased.
DoubleClick recorded a decrease in the value of its investment in ValueClick and
recognized a loss of approximately $3.8 million. This loss has been included in
'Loss on equity transactions of affiliate' in the Consolidated Statements of
Operations.

    As a result of the cumulative dilutive effects of ValueClick's issuance of
stock in connection with the Bach Systems, ClickAgents and other business
combinations consummated during 2001, DoubleClick's ownership interest in
ValueClick was reduced to 15.2% as of December 31, 2001. DoubleClick does not
believe that it is able to exercise significant influence over its investment in
ValueClick as of December 31, 2001 and accordingly, DoubleClick no longer
records its proportionate share of ValueClick's results but instead carries this
investment at fair value, with unrealized gains and losses, net of tax, reported
as a separate component of stockholders' equity. DoubleClick's investment in
ValueClick is included in 'Investments in affiliates' in the Consolidated
Balance Sheets.

NOTE 6 -- NON-CASH COMPENSATION

    Non-cash compensation primarily represents the consideration paid to certain
former shareholders of DoubleClick Scandinavia. Shares of DoubleClick common
stock were issued based upon the continued employment of the former shareholders
and the attainment of specific revenue objectives for the year ended December
31, 2001. In May 2001, DoubleClick agreed to pay the former shareholders
approximately $18.0 million in DoubleClick common stock, which was equal to the
minimum consideration they were entitled to receive under the terms of the
original agreement. As of March 31, 2001, DoubleClick had accrued approximately
$7.5 million in compensation expense related to these payments. The remaining
unexpensed portion of the contingent consideration, approximately $10.5 million,
was charged to earnings during the three months ended June 30, 2001.

NOTE 7 -- SALE OF EUROPEAN MEDIA BUSINESS

    On January 28, 2002, DoubleClick completed the sale of its European Media
business to AdLINK, a German provider of Internet advertising solutions, in
exchange for $26.3 million and the assumption by AdLINK of liabilities
associated with DoubleClick's European Media business. Intercompany liabilities
in an amount equal to $4.3 million were settled through a cash payment by AdLINK
to DoubleClick at the closing of the transaction.

    Following the closing of the transaction described above, United Internet
AG, or United Internet, AdLINK's largest shareholder, exercised its right to
sell to DoubleClick 15% of the outstanding common shares of AdLINK in exchange
for $30.6 million. Pursuant to its agreement with United Internet, the exercise
of this right caused DoubleClick's option to acquire an additional 21% of

                                       8




<Page>
                                DOUBLECLICK INC.
           NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED)
                                  (UNAUDITED)

AdLINK common shares from United Internet to vest. This option is only
exercisable over a two-year period if AdLINK has achieved EBITDA-positive
results for two out of three consecutive fiscal quarters before December 2003.
Should AdLINK fail to achieve these results, the option will expire
unexerciseable in December 2003. During the three months ended March 31, 2002,
AdLINK did not achieve EBITDA-positive results.

    As the result of the transactions described above, DoubleClick sold its
European Media business and received a 15% interest in AdLINK. DoubleClick's
option to acquire an additional 21% of the outstanding common shares of AdLINK
from United Internet also vested. The approximately $8.3 million value of the
15% of the outstanding common stock of AdLINK, representing approximately
3.9 million shares, has been determined based on these shares' average market
prices, as quoted on the Neuer Markt, for the day before, the day of, and the
day immediately after the number of shares due to DoubleClick became irrevocably
fixed pursuant to its agreements with AdLINK and United Internet. DoubleClick
was partially reimbursed $2.0 million for its cash outlays related to the
acquisitions of, and payments with respect to, the minority interests in certain
of its European subsidiaries pursuant to its agreement to sell its European
Media business. DoubleClick's investment in AdLINK is included in 'Investments
in affiliates' in the Consolidated Balance Sheets.

NOTE 8 -- RESTRUCTURING CHARGE

    Throughout 2001, our management took certain actions to increase operational
efficiencies and bring costs in line with revenues. These measures included the
involuntary terminations of approximately 605 employees, primarily from our
Media and TechSolutions divisions, as well as the consolidation of some of our
leased office space and the closure of several of our offices.

    In March 2002, management took additional steps to realign our sales
organization. This involved the involuntary termination of approximately 60
employees, primarily from our Media and TechSolutions divisions. As a
consequence, DoubleClick recorded a $1.4 million charge to operations during the
first quarter of 2002 primarily related to payments for severance.

    As of March 31, 2002, approximately $11.0 million and $33.1 million remain
accrued in 'Accrued expenses and other current liabilities' and 'Long-term
obligations and notes', respectively.

    The following table sets forth a summary of the costs and related charges
for DoubleClick's 2002 restructuring and the balance of the 2002 and 2001
restructuring reserves established:

<Table>
<Caption>
                                                                     FUTURE LEASE
                                                                       COSTS &
                                                                       RELATED      OTHER
                                                                        ASSET       EXIT
                                                         SEVERANCE    WRITE-OFFS    COSTS    TOTAL
                                                         ---------    ----------    -----    -----
                                                                       (IN THOUSANDS)
<S>                                                      <C>         <C>            <C>     <C>
2001 Restructuring
    Balance at January 1, 2002.........................   $  915       $48,440      $ 266   $49,621
    Cash expenditures..................................     (863)       (2,401)       (49)   (3,313)
    Non-cash charges...................................       --        (2,700)        --    (2,700)
                                                          ------       -------      -----   -------
    Balance at March 31, 2002..........................   $   52       $43,339      $ 217   $43,608
                                                          ------       -------      -----   -------
                                                          ------       -------      -----   -------
2002 Restructuring
    Restructuring charge...............................   $1,250       $    --      $ 190   $ 1,440
    Cash expenditures..................................     (752)           --       (145)     (897)
    Non-cash charges...................................       --            --        (45)      (45)
                                                          ------       -------      -----   -------
    Balance at March 31, 2002..........................   $  498       $    --         --   $   498
                                                          ------       -------      -----   -------
        Total reserve balance at March 31, 2002........   $  550       $43,339      $ 217   $44,106
                                                          ------       -------      -----   -------
                                                          ------       -------      -----   -------
</Table>

                                       9




<Page>
                                DOUBLECLICK INC.
           NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED)
                                  (UNAUDITED)

NOTE 9 -- SEGMENT REPORTING

    DoubleClick is organized into three segments: Technology, Media and Data.

    Revenues and gross profit by segment are as follows:

<Table>
<Caption>
                                           THREE MONTHS ENDED MARCH 31, 2002           THREE MONTHS ENDED MARCH 31, 2001
                                        ----------------------------------------   -----------------------------------------
                                        TECHNOLOGY    MEDIA     DATA      TOTAL    TECHNOLOGY    MEDIA     DATA      TOTAL
                                        ----------    -----     ----      -----    ----------    -----     ----      -----
<S>                                     <C>          <C>       <C>       <C>       <C>          <C>       <C>       <C>
Revenue...............................   $50,426     $16,337   $18,218   $84,981    $54,920     $46,094   $18,214   $119,228
Intersegment elimination..............    (1,262)         --       (63)   (1,325)    (4,310)         --       (48)    (4,358)
                                         -------     -------   -------   -------    -------     -------   -------   --------
Revenue from external customers.......   $49,164     $16,337   $18,155   $83,656    $50,610     $46,094   $18,166   $114,870
                                         -------     -------   -------   -------    -------     -------   -------   --------
                                         -------     -------   -------   -------    -------     -------   -------   --------
Segment gross profit..................   $34,359     $ 4,669   $12,683   $51,711    $36,748     $16,345   $11,441   $ 64,534
                                         -------     -------   -------   -------    -------     -------   -------   --------
                                         -------     -------   -------   -------    -------     -------   -------   --------
Data commission fee...................                                       (54)
                                                                         -------
Consolidated gross profit.............                                   $51,657
                                                                         -------
                                                                         -------
</Table>

NOTE 10 -- COMPREHENSIVE LOSS

    Comprehensive loss consists of net loss, unrealized gains and losses on
marketable securities and foreign currency translation adjustments.
Comprehensive loss was $3.7 million and $60.1 million for the three months ended
March 31, 2002 and 2001, respectively.

NOTE 11 -- CONTINGENCIES

    We are a defendant in 20 lawsuits concerning Internet user privacy and data
collection and other business practices in both state and federal court. On
March 28, 2001, the federal cases against DoubleClick were dismissed by Judge
Buchwald in the Southern District of New York. In conjunction with a proposed
settlement, the plaintiffs have recently withdrawn their appeal to the Second
Circuit Court of Appeals. In March 2002, the parties filed a settlement
agreement with the federal court that would resolve the federal lawsuits and the
state lawsuits in California and Texas, to which the court gave preliminary
approval on March 29, 2002. On March 29, 2002, the parties issued a joint press
release outlining the terms of the settlement. A hearing concerning final
approval of the settlement is scheduled before Judge Buchwald on May 21, 2002.
We intend to defend any remaining actions vigorously.

    In addition, beginning in May 2001, a number of substantially identical
class action complaints alleging violations of the federal securities laws in
connection with DoubleClick's initial public offering were filed in the United
States District Court for the Southern District of New York naming as defendants
DoubleClick, some of its officers and directors and certain underwriters of
DoubleClick's initial public offering. These actions were dismissed against us
and the other defendants without prejudice. However, the plaintiffs filed an
amended complaint against us, certain of our officers and directors and the
underwriters of the Company's follow-on offerings alleging substantially similar
disclosure violations as in the initial complaint. These cases are in their
early stages; however, DoubleClick intends to dispute these allegations and
defend these lawsuits vigorously.

    Separately, DoubleClick's ad serving and data collection practices are also
the subject of inquiries by the attorneys general of several states. DoubleClick
is cooperating fully with all such inquiries by the various states.

                                       10




<Page>
                                DOUBLECLICK INC.
           NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED)
                                  (UNAUDITED)

    DoubleClick believes that, notwithstanding the quality of defenses
available, it is possible that our financial condition and results of operations
could be materially adversely affected by the ultimate outcome of the pending
litigation. As of March 31, 2002, DoubleClick has recorded a provision of
approximately $1.8 million relating to the settlement of the pending privacy
lawsuits.

NOTE 12 -- SUBSEQUENT EVENT

    On May 6, 2002, DoubleClick sold its @plan research product line to
NetRatings Inc., a provider of technology-driven Internet audience information
solutions for media and commerce, in exchange for approximately $18.5 million
in cash and stock.

                                       11




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

                                DOUBLECLICK INC.
          MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                           AND RESULTS OF OPERATIONS

    THE FOLLOWING DISCUSSION OF THE FINANCIAL CONDITION AND RESULTS OF
OPERATIONS OF DOUBLECLICK CONTAINS FORWARD-LOOKING STATEMENTS RELATING TO FUTURE
EVENTS AND THE FUTURE PERFORMANCE OF DOUBLECLICK 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. STOCKHOLDERS ARE CAUTIONED THAT SUCH
STATEMENTS INVOLVE RISKS AND UNCERTAINTIES. DOUBLECLICK'S ACTUAL RESULTS AND
TIMING OF CERTAIN EVENTS COULD DIFFER MATERIALLY FROM THOSE ANTICIPATED IN THESE
FORWARD-LOOKING STATEMENTS AS A RESULT OF CERTAIN FACTORS, INCLUDING, BUT NOT
LIMITED TO, THOSE SET FORTH UNDER 'RISK FACTORS' AND ELSEWHERE IN THIS REPORT
AND IN DOUBLECLICK'S OTHER PUBLIC FILINGS WITH THE SECURITIES AND EXCHANGE
COMMISSION. IT IS ROUTINE FOR OUR INTERNAL PROJECTIONS AND EXPECTATIONS TO
CHANGE AS THE YEAR OR EACH QUARTER IN THE YEAR PROGRESS, AND THEREFORE IT SHOULD
BE CLEARLY UNDERSTOOD THAT THE INTERNAL PROJECTIONS AND BELIEFS UPON WHICH WE
BASE OUR EXPECTATIONS MAY CHANGE PRIOR TO THE END OF EACH QUARTER OR THE YEAR.
ALTHOUGH THESE EXPECTATIONS MAY CHANGE, WE MAY NOT INFORM YOU IF THEY DO. OUR
COMPANY POLICY IS GENERALLY TO PROVIDE OUR EXPECTATIONS ONLY ONCE PER QUARTER
AND WE MAY CHOOSE TO NOT UPDATE THAT INFORMATION UNTIL THE NEXT QUARTER IF
CIRCUMSTANCES CHANGE.

OVERVIEW

    We are a leading provider of products and services that enable direct
marketers, publishers and advertisers to market to consumers in the digital
world. Combining technology, media and data expertise, our products and services
help our customers optimize their advertising and marketing campaigns on the
Internet and through other media. We offer a broad range of technology, media
and data products and services to our customers to allow them to address all
aspects of the digital marketing process, from pre-campaign planning and
testing, to execution, measurement and campaign refinements. Our service and
product offerings are grouped into three segments:

     DoubleClick Technology Solutions ('Technology' or 'TechSolutions');

     DoubleClick Media ('Media'); and

     DoubleClick Data ('Data').

BUSINESS TRANSACTIONS

MESSAGEMEDIA

    On January 18, 2002, DoubleClick completed its acquisition of MessageMedia,
Inc. ('MessageMedia'), a provider of permission-based, email marketing and
messaging solutions. DoubleClick acquired all the outstanding shares, options
and warrants of MessageMedia in exchange for one million shares of DoubleClick
common stock valued at approximately $7.5 million, and stock options and
warrants to acquire DoubleClick common stock valued at approximately $0.2
million. In connection with the acquisition, DoubleClick loaned $2.0 million to
MessageMedia to satisfy MessageMedia's operating requirements. The loan was
extinguished upon the closing of the acquisition and included as a component of
the purchase price. The purchase price, of approximately $11.3 million inclusive
of approximately $1.6 million of direct acquisition costs, has been
preliminarily allocated to the assets acquired and the liabilities assumed based
on their respective fair values at the acquisition date. Approximately $1.9
million of the purchase price has been allocated to customer lists and is being
amortized on a straight-line basis over 2 years. DoubleClick has also recorded
approximately $25.3 million in goodwill, which represents the remainder of the
excess of the purchase price over the fair value of net assets acquired. This
goodwill is not tax deductible and in accordance with SFAS 142, goodwill will
be periodically tested for impairment. DoubleClick is still awaiting information
regarding certain assets and liabilities we acquired pertaining to
MessageMedia's European operations. Any potential adjustment to goodwill will be
recorded during the three months ended June 30, 2002 and is not expected to be
material.

                                       12




<Page>
    The results of operations for MessageMedia have been included in
DoubleClick's Consolidated Statements of Operations from the date of
acquisition.

EUROPEAN MEDIA BUSINESS

    On January 28, 2002, DoubleClick completed the sale of its European Media
business to AdLINK Internet Media AG, a German provider of Internet
advertising solutions, in exchange for $26.3 million and the assumption by
AdLINK of liabilities associated with DoubleClick's European Media business.
Intercompany liabilities in an amount equal to $4.3 million were settled through
a cash payment by AdLINK to DoubleClick at the closing of the transaction.
Following the closing of the transaction described above, United Internet AG, or
United Internet, AdLINK's largest shareholder, exercised its right to sell to
DoubleClick 15% of the outstanding common shares of AdLINK in exchange for $30.6
million. Pursuant to its agreement with United Internet, the exercise of this
right caused DoubleClick's option to acquire an additional 21% of AdLINK common
shares from United Internet to vest. This option is only exercisable over a
two-year period if AdLINK has achieved EBITDA-positive results for two out of
three consecutive fiscal quarters before December 2003. Should AdLINK fail to
achieve these results, the option will expire unexerciseable in December 2003.
During the three months ended March 31, 2002 AdLINK did not achieve EBITDA-
positive results. As the result of the transactions described above, DoubleClick
sold its European Media business and received a 15% interest in AdLINK.
DoubleClick's option to acquire an additional 21% of the outstanding common
shares of AdLINK from United Internet also vested. The approximately $8.3
million value of the 15% of the outstanding common stock of AdLINK,
approximately 3.9 million shares, has been determined based on these shares'
average market prices, as quoted on the Neuer Markt, for the day before, the day
of, and the day immediately after the number of shares due to DoubleClick became
irrevocably fixed pursuant to its agreements with AdLINK and United Internet.

@PLAN

    On May 6, 2002, DoubleClick sold its @plan research product line to
NetRatings Inc., a provider of technology-driven Internet audience information
solutions for media and commerce, in exchange for approximately $18.5 million
in cash and stock.

THREE MONTHS ENDED MARCH 31, 2002 COMPARED TO THE THREE MONTHS ENDED MARCH 31,
2001

RESULTS OF OPERATIONS

    Revenues and gross profit by segment are as follows:

<Table>
<Caption>
                               THREE MONTHS ENDED MARCH 31, 2002           THREE MONTHS ENDED MARCH 31, 2001
                            ----------------------------------------   -----------------------------------------
                            TECHNOLOGY    MEDIA     DATA      TOTAL    TECHNOLOGY    MEDIA     DATA      TOTAL
                            ----------    -----     ----      -----    ----------    -----     ----      -----
<S>                         <C>          <C>       <C>       <C>       <C>          <C>       <C>       <C>
Revenue...................   $50,426     $16,337   $18,218   $84,981    $54,920     $46,094   $18,214   $119,228
Intersegment
  elimination.............    (1,262)         --       (63)   (1,325)    (4,310)         --       (48)    (4,358)
                             -------     -------   -------   -------    -------     -------   -------   --------
Revenue from external
  customers...............   $49,164     $16,337   $18,155   $83,656    $50,610     $46,094   $18,166   $114,870
                             -------     -------   -------   -------    -------     -------   -------   --------
                             -------     -------   -------   -------    -------     -------   -------   --------
Segment gross profit......   $34,359     $ 4,669   $12,683   $51,711    $36,748     $16,345   $11,441   $ 64,534
                             -------     -------   -------   -------    -------     -------   -------   --------
                             -------     -------   -------   -------    -------     -------   -------   --------
Data commission fee.......                                       (54)
                                                             -------
Consolidated gross
  profit..................                                   $51,657
                                                             -------
                                                             -------
</Table>

DOUBLECLICK TECHSOLUTIONS

    DoubleClick TechSolutions revenue is derived primarily from sales of our ad
management products and services, including our DART for Publishers Service, our
DART Enterprise ad serving software solution, DART for Advertisers and our email
technology products and services. DoubleClick TechSolutions cost of revenue
includes costs associated with the delivery of our advertisements and our email
product offerings, including Internet access costs, depreciation of the ad and
email delivery

                                       13




<Page>
systems, facilities and personnel-related costs incurred to operate and support
our ad and email delivery products.

    DoubleClick TechSolutions revenue decreased 8.2% to $50.4 million for the
three months ended March 31, 2002 from $54.9 million for the three months ended
March 31, 2001. DoubleClick TechSolutions gross margin was 68.1% for the three
months ended March 31, 2002 and 66.9% for the three months ended March 31, 2001.
The decrease in TechSolutions ad management revenues reflected in large part the
decline in overall online advertising spending. In response to the continued
deterioration of general economic conditions, many companies, particularly
Internet-related companies, have significantly scaled back their advertising and
marketing budgets, which has had a correspondingly negative impact on aggregate
online advertising spending. These trends exerted increasing downward pressure
on TechSolutions ad management revenues, which was partially offset by
acquisition-related growth in our email business associated with our purchase of
FloNetwork and MessageMedia. While it is impossible to determine the duration or
severity of this downturn, we do not expect substantial growth in DoubleClick
TechSolutions revenue to occur until economic concerns subside and the Internet
advertising industry achieves a more meaningful balance between supply and
demand for advertising inventory. The increase in gross margin was primarily
attributable to the reduction in depreciation expense resulting from our
extension of the useful life of our ad delivery hardware and software from three
to four years to recognize depreciation expense over the remaining time that the
assets will be in service. In addition, we renegotiated many of our contracts
with our Internet service providers, which also contributed to the increase in
gross margin. This was partially offset by increased levels of price competition
and a shift in product mix.

DOUBLECLICK MEDIA

    DoubleClick Media revenue is derived primarily from the sale and delivery of
advertising impressions through third-party Web sites comprising the DoubleClick
Media network. DoubleClick Media cost of revenue consists primarily of service
fees paid to Web publishers for impressions delivered on our network, and the
costs of ad delivery and technology support provided by DoubleClick
TechSolutions.

    Revenue for DoubleClick Media decreased 64.6% to $16.3 million for the three
months ended March 31, 2002 from $46.1 million for the three months ended
March 31, 2001. DoubleClick Media gross margin was 28.6% for the three months
ended March 31, 2002 and 35.4% for the three months ended March 31, 2001. The
decrease in DoubleClick Media revenue reflected in large part the decline in
overall online advertising spending mentioned above. In addition, DoubleClick
Media revenue for the three months ended March 31, 2001 included approximately
$5.7 million or 12.4% of revenue for advertising impressions delivered to users
of the AltaVista Web site. No such revenue was recognized in DoubleClick Media's
results during the three months ended March 31, 2002. DoubleClick Media's
revenues also decreased as a result of the sale of its European Media business.
On January 28, 2002, DoubleClick completed the sale of its European Media
operations to AdLINK Internet Media AG, a German provider of Internet
advertising solutions. Revenue recognized by the European Media business prior
to its sale was $1.1 million and $10.2 million for the three months ended
March 31, 2002 and 2001, respectively. Excluding its European Media business,
DoubleClick Media revenues would have been approximately $15.2 million and $35.9
million for the three months ended March 31, 2002 and 2001, respectively.

    DoubleClick Media gross margin decreased primarily due to the reduction in
revenue derived from advertising impressions delivered to the users of the Alta
Vista Web site. Because of specific contractual terms unique to AltaVista,
DoubleClick Media recognizes net revenue from sales commissions, billing and
collection fees from the sale of ads on the AltaVista Web site and associated
services, with no corresponding site compensation, thus resulting in higher
gross margins. In addition, increased levels of price competition contributed to
the decrease in gross margin. This decrease was partially offset by lower
average site fees remitted to Web publishers, and a reduction in the cost of ad
delivery and technology support provided by DoubleClick TechSolutions. Excluding
DoubleClick Media's European business, DoubleClick Media's gross profit would
have been approximately $4.2 million and $11.6 million for the three months
ended March 31, 2002 and 2001, respectively.

                                       14




<Page>
    On March 11, 2002, DoubleClick completed the sale of its email List Services
division to infoUSA for $2.0 million, subject to post-closing adjustments.
Revenue and gross profits recognized by the email List Services division was
approximately $2.7 and $0.6 million, respectively for the three months ended
March 31, 2002. Revenue and gross profit recognized for the email List Services
division during the three months ended March 31, 2001 were insignificant to
DoubleClick Media's results. As a result of the sale of our email List Services
division, we anticipate DoubleClick Media's revenues to decrease in the second
quarter of 2002. Gross margin is expected to increase in the second quarter of
2002 as a result of lower site fee arrangements.

DOUBLECLICK DATA

    DoubleClick Data revenue has historically been derived primarily from its
Abacus division, which provides services such as prospecting lists, housefile
scoring and list optimization to the direct marketing industries. Following the
acquisition of @plan in February 2001, we created a separate research division
within DoubleClick Data designed to offer market research analysis tools that
provide advertisers, brand marketers and e-businesses with analyses of online
advertising campaigns, consumer behavior and purchasing patterns. Research
revenue is derived primarily from the sale of annual subscriptions to its market
research systems. DoubleClick Data cost of revenue includes expenses associated
with creating, maintaining and updating the Abacus and Research databases as
well as the technical infrastructure to produce our products and services.

    DoubleClick Data revenue was $18.2 million for the three months ended
March 31, 2002 and 2001. Gross margin increased from 62.8% for the three months
ended March 31, 2001 to 69.6% for the three months ended March 31, 2002. These
results represent a slight decrease in revenues generated by our Abacus
division, which was offset by an additional month of revenues from our research
division during the three months ended March 31, 2002. The increase in gross
margin was primarily attributable to the reduction in amortization expense of
purchased third party names associated with the Abacus email alliance and a
decrease in consulting and survey fees.

    On May 6, 2002, DoubleClick sold its @plan research product line to
NetRatings Inc., a provider of technology-driven Internet audience information
solutions for media and commerce, in exchange for approximately $18.5 million
in cash and stock. Revenue and gross profits recognized by the @plan research
product line was approximately $2.3 million and approximately $1.4 million,
respectively, for the three months ended March 31, 2002. As a result of the
sale of the @plan research product line, DoubleClick Data anticipates decreases
in absolute dollar amounts of both revenues and gross profits in the second
quarter of 2002.

OPERATING EXPENSES

SALES AND MARKETING

    Sales and marketing expenses consist primarily of compensation and related
benefits, sales commissions, general marketing costs, advertising, bad debt
expense and other operating expenses associated with the sales and marketing
departments. Sales and marketing expenses were $29.8 million, or 35.6% of
revenue for the three months ended March 31, 2002 and $55.1 million, or 48.0% of
revenue for the three months ended March 31, 2001. The $25.3 million decrease in
sales and marketing expense was primarily attributable to a $9.8 million
decrease in compensation and related benefits and sales commissions due to
reductions in headcount associated with our restructuring activities. Reductions
in other personnel-related costs lowered sales and marketing expenses by
approximately $2.2 million, and non-cash compensation expense decreased by
approximately $4.7 million as a result of DoubleClick issuing the remaining
consideration payable to the former shareholders of DoubleClick Scandinavia in
2001. There was no such non-cash compensation expense during the three months
ended March 31, 2002. In addition, marketing and bad debt expenses decreased
$2.3 million and $2.7 million, respectively, and rent and utilities decreased by
$2.3 million dollars. These decreases are commensurate with the decline in our
revenues and the level of business activity. We expect sales and marketing
expenses to remain relatively consistent as a percentage of revenues.

                                       15




<Page>
GENERAL AND ADMINISTRATIVE

    General and administrative expenses consist primarily of compensation and
related benefits, professional services fees and facility-related costs. General
and administrative expenses were $12.0 million, or 14.4% of revenue for the
three months ended March 31, 2002, and $19.6 million, or 17.1% of revenue for
the three months ended March 31, 2001. The $7.6 million decrease in general and
administrative expense was primarily the result of overall reductions in
professional services fees of $2.8 million and decreases in personnel-related
costs of $2.5 million. Decreased professional services fees resulted from a
decrease in legal fees and a reduction in consulting fees associated with system
conversion and integration. Personnel-related costs declined commensurate with
the headcount reductions undertaken as part of our restructuring activities. We
expect general and administrative expenses to remain relatively consistent as a
percentage of revenues.

PRODUCT DEVELOPMENT

    Product development expenses consist primarily of compensation and related
benefits, consulting fees and other operating expenses associated with the
product development departments. Product development expenses were $10.9
million, or 13.0% of revenue for the three months ended March 31, 2002 and $13.9
million, or 12.1% of revenue for the three months ended March 31, 2001. The $3.0
million decrease in product development expenses was primarily the result of
decreases in compensation and related benefits for product development personnel
of $2.1 million, and a decrease in consulting fees of approximately $0.8
million. Although we will continue to concentrate on the efficient allocation of
our personnel resources and reduce our reliance on external consultants, we
believe that on-going investment in product development is critical to the
attainment of our strategic objectives and, as a result, we expect product
development expenses to remain relatively consistent as a percentage of
revenues.

AMORTIZATION OF INTANGIBLE ASSETS

    Amortization of intangible assets consists primarily of the amortization of
customer lists and patents. Amortization expense was $3.1 million for the three
months ended March 31, 2002 and $1.9 million for the three months ended
March 31, 2001. The increase was primarily the result of the amortization of
customer lists acquired in business combinations consummated subsequent to
March 31, 2001.

GOODWILL AMORTIZATION

    In accordance with SFAS No. 142, goodwill is no longer amortized as of
January 1, 2002 but is periodically tested for impairment. Goodwill amortization
was approximately $8.7 million for the three months ended March 31, 2001 and
primarily related to the goodwill associated with our acquisitions of @plan,
Flashbase and DoubleClick Japan.

RESTRUCTURING CHARGE

    In March 2002, management took additional steps to realign our sales
organization. This involved the involuntary termination of approximately 60
employees, primarily from our TechSolutions and Media operations. As a
consequence, DoubleClick recorded a $1.4 million charge to operations during the
three months ended March 31, 2002, primarily related to payments for severance.
We expect to achieve annualized savings of approximately $5.0 million as a
result of the restructuring initiatives undertaken during the three months ended
March 31, 2002.

    In March 2001, our management took certain actions to further increase
operational efficiencies and bring costs in line with revenues. These measures
included the involuntary terminations of approximately 230 employees, primarily
from our Media operations, as well as the consolidation of some of our leased
office space and the closure of several of our offices. As a consequence, we
recorded a $29.0 million charge to operations during the three months ended
March 31, 2001 for severance-related payments to terminated employees, the
accrual of future lease costs, net of estimated sublease

                                       16




<Page>
income and deferred rent, and the write-off of fixed assets for office locations
that were closed or consolidated.

LOSS FROM OPERATIONS

    Our operating loss was $5.7 million for the three months ended March 31,
2002 and $63.9 million for the three months ended March 31, 2001. The decrease
in our operating loss of $58.2 million is primarily attributable to the decrease
in our restructuring charge of $27.6 million, a decrease in goodwill
amortization of $8.7 million, and a decrease in other operating expenses of
approximately $36.0 million as a result of our restructuring activities and
other cost cutting initiatives during 2001. This was partially offset by a
decrease in gross profits of approximately $12.9 million and an increase in
amortization of intangibles of approximately $1.2 million. We continue to manage
our operations with a focus on productivity and manage our headcount
accordingly, but due to the general economic trends we expect to incur future
losses from operations.

EQUITY IN INCOME (LOSSES) OF AFFILIATES

    Equity in income (losses) of affiliates was approximately $0.1 million for
the three months ended March 31, 2002 and ($1.1) million for the three months
ended March 31, 2001. The increase in our equity in income of affiliates was
primarily a result of our investment in ValueClick being accounted for as a
marketable security during the three months ended March 31, 2002. As a result of
the cumulative dilutive effects of ValueClick's issuance of stock in connection
with business combinations consummated during 2001, DoubleClick's ownership
interest had been reduced to 15.2%. DoubleClick does not believe that it is able
to exercise significant influence over its investment in ValueClick and
accordingly, DoubleClick no longer records its proportionate share of
ValueClick's results but instead carries this investment at fair value, with
unrealized gains and losses, net of tax, reported as a separate component of
stockholders' equity.

LOSS ON EQUITY TRANSACTIONS OF AFFILIATES

    For the three months ended March 31, 2001, we recognized an approximately
$3.8 million loss related to the decrease in value of our proportionate share of
the net assets of ValueClick resulting from its completion of two business
combinations.

INTEREST AND OTHER, NET

    Interest and other, net was $3.4 million for the three months ended
March 31, 2002 and $8.8 million for the three months ended March 31, 2001.
Interest and other, net included $7.5 million in interest income for the three
months ended March 31, 2002, partially offset by $3.0 million of interest
expense, and $13.0 million of interest income for the three months ended
March 31, 2001, partially offset by $3.2 million of interest expense. The
decrease in interest income was primarily attributable to decreases in the
average quarterly balances of our investments in marketable securities and
decreases in average investment yields due to declines in interest rates.
Interest and other, net in future periods may fluctuate in correlation with the
average cash, investment and debt balances we maintain and as a result of
changes in the market rate of our investments.

INCOME TAXES

    The provision for income taxes does not reflect the benefit of our
historical losses due to limitations and uncertainty surrounding our prospective
realization of the benefit. The provision for income taxes recorded for the
three months ended March 31, 2002 primarily relates to an approximately $1.5
million tax provision associated with the sale of our European Media business,
approximately $0.4 million of corporate income taxes on the earnings of some of
our foreign subsidiaries and approximately $0.6 million of state and local
taxes. The provision for the three months ended March 31, 2001 principally
related to corporate income taxes on the earnings of some of our foreign
subsidiaries.

                                       17




<Page>
LIQUIDITY AND CAPITAL RESOURCES

    Since inception, we have financed our operations primarily through private
placements of equity securities, and public offerings of our common stock and
Convertible Subordinated Notes.

    Operating activities generated $6.7 million for the three months ended
March 31, 2002 and $1.1 million for the three months ended March 31, 2001. The
increase in cash provided by operating activities for the three months ended
March 31, 2002 resulted primarily from a decrease in net loss, excluding
non-cash items, and increases in deferred revenue and other liabilities, which
were partially offset by decreases in accounts payable and accrued expenses, and
increases in prepaid expenses and other assets. Investing activities provided
$22.4 million and $38.0 million for the three months ended March 31, 2002 and
2001, respectively. Cash provided by investing activities for the three months
ended March 31, 2002 and 2001 resulted primarily from the maturity of some of
our investments in marketable securities, which were partially offset by cash
paid for the purchase of equipment and the acquisition of businesses and
intangible assets. Net cash used in financing activities was $6.3 million for
the three months ended March 31, 2002 and net cash provided by financing
activities was $2.4 million for the three months ended March 31, 2001. Net cash
used from financing activities resulted primarily from payments of notes and
capital lease obligations offset by proceeds from the issuance of common stock
in connection with our employee stock purchase and stock option plans. Cash
provided by financing activities consisted primarily of the proceeds from the
issuance of common stock in connection with our employee stock purchase and
stock option plans for the three months ended March 31, 2001, offset by payments
under capital lease obligations.

    As of March 31, 2002, we had $121.8 million of cash and cash equivalents,
$604.2 million in investments in marketable securities and $19.2 million in
restricted cash. As of March 31, 2002, our principal commitments consisted of
our Convertible Subordinated Notes and our obligations under operating and
capital leases. Although we have no material commitments for capital
expenditures, we continue to anticipate that our capital expenditures and lease
commitments will be a material use of our cash resources consistent with the
levels of our operations, infrastructure and personnel.

    We believe that our existing cash and cash equivalents and investments in
marketable securities will be sufficient to meet our anticipated cash needs for
working capital and capital expenditures for at least the next 12 months.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

INTEREST RATE RISK

    The primary objective of our investment activities is to preserve principal
while at the same time maximizing yields without significantly increasing risk.
To achieve this objective, we maintain our portfolio of cash equivalents and
marketable securities in a variety of government and corporate obligations and
money market funds. As of March 31, 2002, our investments in marketable
securities had a weighted average time to maturity of 385 days.

    The following table presents the amounts of our financial instruments that
are subject to interest rate risk by expected maturity and average interest
rates as of March 31, 2002.

<Table>
<Caption>
                                                                    TIME TO MATURITY
                                                     ----------------------------------------------
                                                     ONE YEAR    ONE TO       TWO TO
                                                     OR LESS    TWO YEARS   FOUR YEARS   FAIR VALUE
                                                     -------    ---------   ----------   ----------
<S>                                                  <C>        <C>         <C>          <C>
Cash and cash equivalents..........................  $121,801         --           --     $121,801
Average interest rate..............................      1.34%
Fixed-rate investments in marketable securities....  $295,052   $305,002     $  4,109     $604,163
Average interest rate..............................      4.91%      3.61%        4.00%
Restricted cash....................................  $ 18,055   $  1,155           --     $ 19,210
Average interest rate..............................      2.13%      2.94%
Convertible subordinated notes.....................        --         --     $219,700     $183,450
Average interest rate..............................                              4.75%
</Table>

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<Page>
    We did not hold derivative financial instruments as of March 31, 2002 and
have not held these instruments in the past.

FOREIGN CURRENCY RISK

    We transact business in various foreign countries and are thus subject to
exposure from adverse movements in foreign currency exchange rates. This
exposure is primarily related to revenue and operating expenses denominated in
European and Asian currencies. The effect of foreign exchange rate fluctuations
on our operations for the three months ended March 31, 2002 was not material. We
do not use financial instruments to hedge operating activities denominated in
foreign currencies. We assess the need to utilize financial instruments to hedge
currency exposures on an ongoing basis. As of March 31, 2002, we had $40.1
million in cash and cash equivalents denominated in foreign currencies.

    The introduction of the euro has not had a material impact on how we conduct
business and we do not anticipate any changes in how we conduct business as a
result of increased price transparency.

    Our international business is subject to risks typical of an international
business, including, but not limited to, differing economic conditions, changes
in political climate, differing tax structures, other regulations and
restrictions and foreign exchange rate volatility. Accordingly, our future
results could be materially and adversely affected by changes in these or other
factors.

                                       19




<Page>
                                  RISK FACTORS

    An investment in our company involves a high degree of risk. You should
carefully consider the risks below, together with the other information
contained in this report, before you decide to invest in our company. If any of
the following risks actually occur, our business, results of operations and
financial condition could be harmed, the trading price of our common stock could
decline, and you could lose all or part of your investment.

                 RISKS RELATING TO OUR COMPANY AND OUR BUSINESS

WE HAVE A LIMITED OPERATING HISTORY AND OUR FUTURE FINANCIAL RESULTS MAY
FLUCTUATE, WHICH MAY CAUSE OUR STOCK PRICE TO DECLINE.

    We were incorporated in January 1996 and have a limited operating history.
An investor in our common stock must consider the risks and difficulties
frequently encountered by companies in new and rapidly evolving industries,
including the digital marketing industry. Our risks include:

     ability to achieve historical revenue growth rates;

     ability to manage our operations;

     competition;

     attracting, retaining and motivating qualified personnel;

     maintaining our current and developing new, strategic relationships with
     Web publishers, advertisers, ad agencies and direct marketers;

     ability to anticipate and adapt to the changing Internet advertising and
     direct marketing industries; and

     ability to develop and introduce new products and services, and continue to
     develop and upgrade technology.

    We also depend on the use of the Internet for advertising and as a
communications medium, the demand for advertising services in general, and on
general economic conditions. We cannot assure you that our business strategy
will be successful or that we will successfully address these risks. If we are
unsuccessful in addressing these risks, our revenues may decline or may not grow
in accordance with our business model and may fall short of expectations of
market analysts and investors, which could negatively affect the price of our
stock.

WE HAVE A HISTORY OF LOSSES AND ANTICIPATE CONTINUED LOSSES.

    We have incurred net losses each year since inception, including net losses
of $265.8 million, $156.0 million and $55.8 million for the years ended December
31, 2001, 2000 and 1999, respectively. We incurred a net loss of approximately
$6.0 million for the three months ended March 31, 2002 and as of March 31,
2002, our accumulated deficit was $554.6 million. We have not achieved
profitability on an annual basis and expect to incur operating losses in the
future. We expect to continue to incur significant operating and capital
expenditures and, as a result, we will need to generate significant revenue to
achieve and maintain profitability. We cannot assure you that we will generate
sufficient revenue to achieve or sustain profitability. Even if we do achieve
profitability, we cannot assure you that we can sustain or increase
profitability on a quarterly or annual basis in the future. If revenue does not
meet our expectations, or if operating expenses exceed what we anticipate or
cannot be reduced accordingly, our business, results of operations and financial
condition will be materially and adversely affected.

                                       20




<Page>
WE DERIVE A SIGNIFICANT PORTION OF OUR REVENUE FROM ADVERTISEMENTS AND
ADVERTISING SERVICES, WHICH REVENUES TEND TO BE CYCLICAL AND DEPENDENT ON THE
ECONOMIC PROSPECTS OF ADVERTISERS AND DIRECT MARKETERS AND THE ECONOMY IN
GENERAL. A CONTINUED DECREASE IN EXPENDITURES BY ADVERTISERS AND DIRECT
MARKETERS OR A CONTINUED DOWNTURN IN THE ECONOMY COULD CAUSE OUR REVENUES TO
DECLINE SIGNIFICANTLY IN ANY GIVEN PERIOD.

    We derive, and expect to continue to derive for the foreseeable future, a
large portion of our revenue from products and services we provide to Web
publishers, advertisers, direct marketers and agencies and from advertisements
we deliver to Web sites on the DoubleClick network. Expenditures by advertisers
tend to be cyclical, reflecting overall economic conditions as well as budgeting
and buying patterns. The overall market for advertising, including Internet
advertising, has been characterized in recent quarters by increasing softness of
demand, lower prices for advertisements, the reduction or cancellation of
advertising contracts, an increased risk of uncollectible receivables from
customer and the reduction of marketing and advertising budgets, especially for
online advertising and by Internet-related companies. As a result of these
reductions, advertising spending across traditional media, as well as the
Internet, has decreased. We cannot assure you that further reductions will not
occur.

    The revenue outlook for DoubleClick TechSolutions and DoubleClick Media are
adversely affected by an environment where the supply of advertising inventory
exceeds advertisers' demand. Under these circumstances, Web publishers tend to
remove ad space from their Web sites in an effort to correct the supply-demand
imbalance; other publishers may cut back on their Web presence or go out of
business. Faced with smaller budgets, advertisers and ad agencies purchase less
advertising inventory and tend not to experiment with newer advertising media,
like the Internet. Consequently, the number of ad impressions delivered by
DoubleClick TechSolutions may decline or fail to grow, which would adversely
affect our revenues.

    DoubleClick Data, which provides services to direct marketers, may face
similar pressures. Direct marketers may respond to economic downturns by
reducing the number of catalogs mailed and the number of households to which
these catalogs are mailed, thereby reducing the demand for DoubleClick Data's
serivces. If direct marketing activities fail to grow or decline our revenues
could be adversely affected.

    We cannot assure you that further reductions in advertising spending will
not occur. We also cannot assure you that if economic conditions improve,
marketing budgets and advertising spending will increase from current levels. A
continued decline in the economic prospects of advertisers or the economy in
general could alter current or prospective advertisers' spending priorities or
increase the time it takes to close a sale with a customer. As a result, our
revenues from advertisements and advertising services may decline significantly
in any given period.

WE DO NOT ALWAYS MAINTAIN LONG-TERM AGREEMENTS WITH OUR CUSTOMERS AND MAY BE
UNABLE TO RETAIN CUSTOMERS, ATTRACT NEW CUSTOMERS OR REPLACE DEPARTING CUSTOMERS
WITH CUSTOMERS THAT CAN PROVIDE COMPARABLE REVENUES.

    Many of our contracts with our customers are short-term. We cannot assure
you that our customers will continue to use our products and services or that we
will be able to replace in a timely or effective manner departing customers with
new customers that generate comparable revenues. Further, we cannot assure you
that our customers will continue to generate consistent amounts of revenues over
time. Our failure to develop and sustain long-term relationships with our
customers would materially and adversely affect our results of operations.

OUR CUSTOMERS CONTINUE TO EXPERIENCE BUSINESS CONDITIONS THAT COULD ADVERSELY
AFFECT OUR BUSINESS.

    Our customers, in particular Internet-related companies, have experienced
and may continue to experience difficulty raising capital and supporting their
current operations and implementing their business plans, or may be anticipating
such difficulties and, therefore, may elect to scale back the resources they
devote to advertising in general and our offerings in particular. Many other
companies in the Internet industry have depleted their available capital and
either have or could cease operations or

                                       21




<Page>
file for bankruptcy protection. These customers may not be able to discharge
their payment and other obligations to us. The non-payment or late payment of
amounts due to us from our customers could negatively impact our financial
condition. If the current environment for advertising and for Internet-related
companies does not improve, our business, results of operations and financial
condition could be materially adversely affected.

INDUSTRY SHIFTS, RAPID EXPANSION OF OUR PRODUCTS AND SERVICES AND OTHER CHANGES
HAVE STRAINED OUR MANAGERIAL, OPERATIONAL, FINANCIAL AND INFORMATION SYSTEM
RESOURCES.

    In recent years, we have had to respond to significant changes in our
industry. As a result, we have experienced industry shifts, rapid expansion of
product and service offerings and other changes that have increased the
complexity of our business and placed considerable demands on our managerial,
operational and financial resources. We continue to increase the scope of our
product and service offerings both domestically and internationally and to
deploy our resources in accordance with changing business conditions and
opportunities. To continue to successfully implement our business plan in our
rapidly changing industry requires effective planning and management processes.
We expect that we will need to continue to improve our financial and managerial
controls and reporting systems and procedures and will need to continue to train
and manage our workforce. We cannot assure you that management will be effective
in attracting and retaining qualified personnel, integrating acquired businesses
or otherwise responding to new business conditions. We also cannot assure you
that our information systems, procedures or controls will be adequate to support
our operations or that our management will be able to achieve the rapid
execution necessary to offer our products and services and implement our
business plan successfully. Our inability to effectively respond to changing
business conditions could materially and adversely affect our business,
financial condition and results of operations.

OUR BUSINESS MODEL IS UNPROVEN, AND WE MAY NOT BE ABLE TO GENERATE PROFITS FROM
MANY OF OUR PRODUCTS AND SERVICES.

    A significant part of our business model is to generate revenue by providing
digital marketing products and services to advertisers, ad agencies, Web
publishers and direct marketers. The profit potential for our business model has
not yet been proven, and we have not yet achieved full-year profitability. The
profitability of our business model is subject to external and internal factors.
Any single factor or combination of factors could limit the profit potential,
long term and short term, of our business model.

    Like other businesses in the advertising and marketing sector, our revenue
outlook is sensitive to downturns in the economy followed by declines in
advertisers' marketing budgets. The profit potential of our business model is
also subject to the acceptance of our products and services by marketers,
advertisers, ad agencies and publishers. Digital marketing remains a new
discipline. Intensive marketing and sales efforts may be necessary to educate
prospective customers regarding the uses and benefits of, and to generate demand
for, our products and services. Enterprises may be reluctant or slow to adopt a
new approach that may replace existing techniques, or may feel that our
offerings fall short of their needs. If these outcomes occur, it would have an
adverse effect on the profit potential of our business model.

    Internal factors also influence the profit potential of our business model.
In order to be profitable, our revenue must exceed the expense incurred by us to
run our technology infrastructure, research and development, sales and
marketing, and all other operations. However, we cannot assure you that the
expenses associated with even the most efficient operation of our business will
yield profits, or that we will be able to manage our business for optimal
efficiency and cost containment. Our failure to achieve these results would
adversely affect the profit potential of our business model.

                                       22




<Page>
DISRUPTION OF OUR SERVICES DUE TO UNANTICIPATED PROBLEMS OR FAILURES COULD HARM
OUR BUSINESS.

    Our DART ad management technology resides in our data centers in New York
City, Virginia, California and Colorado, and in Europe, Asia and Latin America.
Continuing and uninterrupted performance of our technology is critical to our
success. Customers may become dissatisfied by any system failure that interrupts
our ability to provide our services to them, including failures affecting our
ability to deliver advertisements without significant delay to the viewer.
Sustained or repeated system failures would reduce the attractiveness of our
products and services to our customers and result in contract terminations, fee
rebates and makegoods, thereby reducing revenue. Slower response time or system
failures may also result from straining the capacity of our technology due to an
increase in the volume of advertising delivered through our servers. To the
extent that we do not effectively address any capacity constraints or system
failures, our business, results of operations and financial condition could be
materially and adversely affected.

    Our operations are dependent on our ability to protect our computer systems
against damage from fire, power loss, water damage, telecommunications failures,
vandalism and other malicious acts, and similar unexpected adverse events. In
addition, interruptions in our products or services could result from the
failure of our telecommunications providers to provide the necessary data
communications capacity in the time frame we require. Unanticipated problems
affecting our systems have from time to time in the past caused, and in the
future could cause, interruptions in the delivery of our products and services.
Our business, results of operations and financial condition could be materially
and adversely affected by any damage or failure that interrupts, or delays or
destroys our operations.

MISAPPROPRIATION OF CONFIDENTIAL INFORMATION COULD CAUSE US TO LOSE CUSTOMERS.

    We currently retain highly confidential information of our customers in a
secure database server. Although we observe security measures throughout our
operations, we cannot assure you that we will be able to prevent unauthorized
individuals from gaining access to this database server. Any unauthorized access
to our servers, or abuse by our employees, could result in the theft of
confidential customer information. If confidential customer information is
compromised, we could lose customers or become subject to litigation and our
reputation could be harmed, any of which could materially and adversely affect
our business and results of operations.

COMPETITION IN INTERNET ADVERTISING, DIRECT MARKETING AND RELATED PRODUCTS AND
SERVICES IS INTENSE, AND WE MAY NOT BE ABLE TO COMPETE SUCCESSFULLY.

    The market for digital marketing products and services is very competitive.
We expect this competition to continue because there are low barriers to entry.
Also, industry consolidation may lead to stronger, better capitalized entities
against which we must compete. We expect that we will encounter additional
competition from new sources as we expand our product and service offerings.

    We believe that our ability to compete depends on many factors both within
and beyond our control, including the following:

     the features, performance, price and reliability of products and services
     offered either by us or our competitors;

     the launch timing and market success of products and services developed
     either by us or our competitors;

     our ability to adapt and scale our products and services, and to develop
     and introduce new products and services that respond to market needs;

     our ability to adapt to evolving technology and industry standards;

     our customer service and support efforts;

     our sales and marketing efforts; and

     the relative impact of general economic and industry conditions on either
     us or our competitors.

    Our divisions face competition from a variety of sources. DoubleClick
TechSolutions competes with providers of software and service bureau solutions
for the delivery of Web ads and email for direct

                                       23




<Page>
marketers, Web publishers and advertisers as well as with inhouse solutions.
DoubleClick Media competes with large Web publishers, Web portals and Internet
advertising networks.

    Abacus competes with data aggregation companies and providers of information
products and marketing research services to the direct marketing industry.
DoubleClick Research competes with Web ratings companies, providers of Web
advertising management, online research and consulting services and providers of
syndicated market research in traditional publishing. We also compete indirectly
with others, such as providers of customer relationship management services,
content aggregation companies, companies engaged in advertising sales networks,
advertising agencies and other companies that facilitate digital marketing.

    Many 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 ours. These factors could allow them to compete more effectively
than we can, including devoting greater resources to the development, promotion
and sale of their products and services, engaging in more extensive research and
development, undertaking more far-reaching marketing campaigns, adopting more
aggressive pricing policies and making more attractive offers to existing and
potential employees, strategic partners, advertisers, direct marketers and Web
publishers. We cannot assure you that our competitors will not develop products
or services that are equal or superior to our products and services or that
achieve greater acceptance than our products and services. In addition, current
and potential competitors have established or may establish cooperative
relationships among themselves or with third parties to increase the ability of
their products or services to address the needs of our prospective advertising,
ad agency and Web publisher customers. As a result, it is possible that new
competitors may emerge and rapidly acquire significant market share. Increased
competition may result in price reductions, reduced gross margins and loss of
market share. We cannot assure you that we will be able to compete successfully
or that competitive pressures will not materially and adversely affect our
business, results of operations or financial condition.

OUR QUARTERLY OPERATING RESULTS ARE SUBJECT TO SIGNIFICANT FLUCTUATIONS AND YOU
SHOULD NOT RELY ON THEM AS AN INDICATION OF FUTURE OPERATING PERFORMANCE.

    Our revenue and results of operations may fluctuate significantly in the
future as a result of a variety of factors, many of which are beyond our
control. These factors include:

     advertiser, Web publisher and direct marketer demand for our products and
     services;

     Internet user traffic levels;

     number and size of ad units per page on our customers' Web sites;

     the introduction of new products or services by us or our competitors;

     variations in the levels of capital, operating expenditures and other costs
     relating to our operations;

     pricing trends for advertising inventory on the DoubleClick network and for
     the portion payable to the Web publishers in the DoubleClick network;

     general seasonal and cyclical fluctuations; and

     general industry and economic conditions.

    We may not be able to adjust spending quickly enough to offset any
unexpected revenue shortfall. Our operating expenses include upgrading and
enhancing our ad management and email delivery technology, expanding our product
and service offerings, marketing and supporting our products and services, and
supporting our sales and marketing operations. If we have a shortfall in revenue
in relation to our expenses, or if our expenses exceed revenue, then our
business, results of operations and financial condition could be materially and
adversely affected. These results would likely affect the market price of our
common stock in a manner which may be unrelated to our long-term operating
performance.

    Our business is subject to seasonal fluctuations. Advertisers generally
place fewer advertisements during the first and third calendar quarters of each
year, which directly affects the DoubleClick

                                       24




<Page>
TechSolutions and DoubleClick Media businesses. The direct marketing industry
generally mails substantially more marketing materials in the third calendar
quarter, which directly affects the DoubleClick Data business. The email
technology business may experience seasonal patterns similar to the traditional
direct marketing industry, which typically generates lower revenues earlier in
the calendar year and higher revenues during the calendar year-end months.
Further, Internet user traffic typically drops during the summer months, which
reduces the amount of advertising to sell and deliver.

    As a result, we believe that period-to-period comparisons of our results of
operations may not be meaningful. You should not rely on past periods as
indicators of future performance. It is possible that in some future periods our
results of operations may be below the expectations of public market analysts
and investors. In this event, the price of our common stock may fall.

WE MAY NOT BE ABLE TO CONTINUE TO GROW THROUGH ACQUISITIONS OF OR INVESTMENTS IN
OTHER COMPANIES.

    Our business has expanded rapidly in part as a result of acquisitions or
investments in other companies, including the acquisitions of Abacus Direct,
NetGravity, FloNetwork and MessageMedia. We may seek to acquire or make
investments in other complementary businesses, products, services or
technologies as a means to grow our business. From time to time we have had
discussions with other companies regarding our acquiring, or investing in, their
businesses, products, services or technologies. We cannot assure you that we
will be able to identify other suitable acquisition or investment candidates.
Even if we do identify suitable candidates, we cannot assure you that we will be
able to make other acquisitions or investments on commercially acceptable terms,
if at all. Even if we agree to buy a company, we cannot assure you that we will
be successful in consummating the purchase. If we are unable to continue to
expand through acquisitions, our revenue may decline or fail to grow.

WE MAY NOT MANAGE THE INTEGRATION OF ACQUIRED COMPANIES SUCCESSFULLY OR ACHIEVE
DESIRED RESULTS.

    As a part of our business strategy, we could enter into a number of business
combinations and acquisitions. Acquisitions are accompanied by a number of
risks, including:

     the difficulty of assimilating the operations and personnel of the acquired
     companies;

     the potential disruption of the ongoing businesses and distraction of our
     management and the management of acquired companies;

     the difficulty of incorporating acquired technology and rights into our
     products and services;

     unanticipated expenses related to technology and other integration;

     difficulties in maintaining uniform standards, controls, procedures and
     policies;

     the impairment of relationships with employees and customers as a result of
     any integration of new management personnel;

     the inability to develop new products and services that combine our
     knowledge and resources and our acquired businesses or the failure for a
     demand to develop for the combined companies' new products and services;

     potential failure to achieve additional sales and enhance our customer base
     through cross-marketing of the combined company's products to new and
     existing customers; and

     potential unknown liabilities associated with acquired businesses.

    We may not succeed in addressing these risks or other problems encountered
in connection with these business combinations and acquisitions. If so, these
risks and problems could disrupt our ongoing business, distract our management
and employees, increase our expenses and adversely affect our results of
operations due to accounting requirements, such as write-offs due to impairment
of goodwill. Furthermore, we may incur debt or issue equity securities to pay
for any future acquisitions. The issuance of equity securities could be dilutive
to our existing stockholders.

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<Page>
WE DEPEND ON THIRD-PARTY INTERNET AND TELECOMMUNICATIONS PROVIDERS, OVER WHOM WE
HAVE NO CONTROL, TO OPERATE OUR SERVICES. INTERRUPTIONS IN OUR SERVICES CAUSED
BY ONE OF THESE PROVIDERS COULD HAVE AN ADVERSE EFFECT ON REVENUE AND SECURING
ALTERNATE SOURCES OF THESE SERVICES COULD SIGNIFICANTLY INCREASE EXPENSES.

    We depend heavily on several third-party providers of Internet and related
telecommunication services, including hosting and co-location facilities, in
delivering our products and services. These companies may not continue to
provide services to us without disruptions in service, at the current cost or at
all. The costs associated with any transition to a new service provider would be
substantial, requiring us to reengineer our computer systems and
telecommunications infrastructure to accommodate a new service provider. This
process would be both expensive and time consuming. In addition, failure of our
Internet and related telecommunications providers to provide the data
communications capacity in the time frame we require could cause interruptions
in the services we provide. Unanticipated problems affecting our computer and
telecommunications systems in the future could cause interruptions in the
delivery of our services, causing a loss of revenue and potential loss of
customers.

WE ARE DEPENDENT ON KEY PERSONNEL AND ON KEY EMPLOYEE RETENTION AND RECRUITING
FOR OUR FUTURE SUCCESS.

    Our future success depends to a significant extent on the continued service
of our key technical, sales and senior management personnel. We do not have
employment agreements with most of these executives and do not maintain key
person life insurance on any of these executives. The loss of the services of
one or more of our key employees could significantly delay or prevent the
achievement of our product development and other business objectives, including
acquisitions, and could harm our business. Our future success also depends on
our continuing ability to attract, retain and motivate highly skilled employees
for key positions. There is competition for qualified employees in our industry.
We may be unable to retain our key employees or attract, assimilate or retain
other highly qualified employees in the future. We have from time to time in the
past experienced, and we expect to continue to experience in the future,
difficulty in hiring and retaining highly skilled employees with appropriate
qualifications.

IF WE FAIL TO ADEQUATELY PROTECT OUR INTELLECTUAL PROPERTY, WE COULD LOSE OUR
INTELLECTUAL PROPERTY RIGHTS.

    Our success and ability to effectively compete are substantially dependent
on the protection of our proprietary technologies, trademarks, copyrights and
trade secrets, which we protect through a combination of patent, trademark,
copyright, trade secret, unfair competition and contract law. We cannot assure
you that any of our proprietary rights will be viable or of value in the future.

    In September 1999, the U.S. Patent and Trademark Office issued to us a
patent that covers our DART ad management technology. We own other patents, and
have patent applications pending for our technology. We cannot assure you that
patents applied for will be issued or that patents issued or acquired by us now
or in the future will be valid and enforceable or provide us with any meaningful
protection.

    We also have rights in the trademarks that we use to market our products and
services. These trademarks include DOUBLECLICK'r', DART'r', DARTMAILTM and
ABACUSTM. We have applied to register our trademarks in the United States and
internationally. We cannot assure you that any of our current or future
trademark applications will be approved. Even if they are approved, these
trademarks may be successfully challenged by others or invalidated. If our
trademark registrations are not approved because third parties own these
trademarks, our use of these trademarks will be restricted unless we enter into
arrangements with these parties which may be unavailable on commercially
reasonable terms, if at all.

    We also enter into confidentiality, proprietary rights and license
agreements, as appropriate, with our employees, consultants and business
partners, and generally control access to and distribution of our technologies,
documentation and other proprietary information. Despite these efforts, we
cannot be

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certain that the steps we take to prevent unauthorized use of our proprietary
rights are sufficient to prevent misappropriation of our products and services
or technologies, particularly in foreign countries where laws or law enforcement
practices may not protect our proprietary rights as fully as in the United
States. In addition, we cannot assure you that we will be able to adequately
enforce the contractual arrangements that we have entered into to protect our
proprietary technologies. If we lose our intellectual property rights, this
could have a material and adverse impact on our business, financial condition
and results of operations.

IF WE FACE A CLAIM OF INTELLECTUAL PROPERTY INFRINGEMENT BY A THIRD PARTY, WE
MAY BE LIABLE FOR DAMAGES AND BE REQUIRED TO MAKE CHANGES TO OUR TECHNOLOGY OR
BUSINESS.

    Third parties may assert infringement claims against us, which could
adversely affect our reputation and the value of our proprietary rights. From
time to time we have been, and we expect to continue to be, subject to claims in
the ordinary course of our business, including claims of alleged infringement of
the patents, trademarks and other intellectual property rights of third parties
by us or our customers. In particular, we do not conduct exhaustive patent
searches to determine whether our technology infringes patents held by others.
In addition, the protection of proprietary rights in Internet-related industries
is inherently uncertain due to the rapidly evolving technological environment.
As such, there may be numerous patent applications pending, many of which are
confidential when filed, that provide for technologies similar to ours.

    Third party infringement claims and any resultant litigation, should it
occur, could subject us to significant liability for damages, restrict us from
using our technology or operating our business generally, or require changes to
be made to our technology. Even if we prevail, litigation is time consuming and
expensive to defend and would result in the diversion of management's time and
attention. Any claims from third parties may also result in limitations on our
ability to use the intellectual property subject to these claims unless we are
able to enter into royalty, licensing or other similar agreements with the third
parties asserting these claims. Such agreements, if required, may be unavailable
on terms acceptable to us, or at all. If we are unable to enter into these types
of agreements, we would be required to either cease offering the subject product
or change the technology underlying the applicable product. If a successful
claim of infringement is brought against us and we fail to develop
non-infringing technology or to license the infringed or similar technology on a
timely basis, it could materially adversely affect our business, financial
condition and results of operations.

OUR BUSINESS MAY BE MATERIALLY ADVERSELY AFFECTED BY LAWSUITS RELATED TO PRIVACY
AND OUR BUSINESS PRACTICES.

    We are a defendant in several pending lawsuits alleging, among other things,
that we unlawfully obtain and use Internet users' personal information and that
our use of cookies violates various laws. We are the subject of an inquiry
involving the attorneys general of several states relating to our practices in
the collection, maintenance and use of information about, and our disclosure of
these information practices to, Internet users. We may in the future receive
additional regulatory inquiries and we intend to cooperate fully. Class action
litigation and regulatory inquiries of these types are often expensive and time
consuming and their outcome is uncertain.

    We cannot quantify the amount of monetary or human resources that we will be
required to use to defend ourselves in these proceedings. We may need to spend
significant amounts on our legal defense, senior management may be required to
divert their attention from other portions of our business, new product launches
may be deferred or canceled as a result of these proceedings, and we may be
required to make changes to our present and planned products or services, any of
which could materially and adversely affect our business, financial condition
and results of operations. If, as a result of any of these proceedings, a
judgment is rendered or a decree is entered against us, it may materially and
adversely affect our business, financial condition and results of operations.

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OUR BUSINESS DEPENDS IN PART ON SUCCESSFUL ADAPTATION OF OUR BUSINESS TO
INTERNATIONAL MARKETS, IN WHICH WE HAVE LIMITED EXPERIENCE. FAILURE TO
SUCCESSFULLY MANAGE THE RISKS OF INTERNATIONAL OPERATIONS AND SALES AND
MARKETING EFFORTS WOULD HARM OUR RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

    We have operations in a number of countries and have limited experience in
developing localized versions of our products and services and in marketing,
selling and distributing our products and services internationally. We sell our
technology products and services through our directly and indirectly owned
subsidiaries primarily located in Australia, Canada, France, Germany, Spain,
Ireland, the United Kingdom, Hong Kong and Japan. We operate our media business
through business partners in Japan and Asia (Hong Kong, Taiwan, Korea, China and
Singapore). A great deal of our success in these markets is directly dependent
on the success of our business partners and their dedication of sufficient
resources to our relationship.

    Our international operations are subject to other inherent risks, including:

     the high cost of maintaining international operations;

     uncertain demand for our products and services;

     the impact of recessions in economies outside the United States;

     changes in regulatory requirements;

     more restrictive data protection regulation;

     reduced protection for intellectual property rights in some countries;

     potentially adverse tax consequences;

     difficulties and costs of staffing and managing foreign operations;

     political and economic instability;

     fluctuations in currency exchange rates; and

     seasonal fluctuations in Internet usage.

    These risks may have a material and adverse impact on the business, results
of operations and financial condition of our operations in a particular country
and could result in a decision by us to reduce or discontinue operations in that
country. The combined impact of these risks in each country may also materially
and adversely affect our business, results of operations and financial condition
as a whole.

ANTI-TAKEOVER PROVISIONS IN OUR CHARTER DOCUMENTS AND DELAWARE LAW MAY MAKE IT
DIFFICULT FOR A THIRD PARTY TO ACQUIRE US.

    Some of the provisions of our certificate of incorporation, our bylaws and
Delaware law could, together or separately:

     discourage potential acquisition proposals;

     delay or prevent a change in control; or

     impede the ability of our stockholders to change the composition of our
     board of directors in any one year.

    As a result, it could be more difficult to acquire us, even if doing so
might be beneficial to our stockholders. Difficulty in acquiring us could, in
turn, limit the price that investors might be willing to pay for shares of our
common stock.

OUR STOCK PRICE MAY EXPERIENCE EXTREME PRICE AND VOLUME FLUCTUATIONS, AND THIS
VOLATILITY COULD RESULT IN US BECOMING SUBJECT TO SECURITIES LITIGATION, WHICH
IS EXPENSIVE AND COULD RESULT IN A DIVERSION OF RESOURCES.

    The market price of our common stock has fluctuated in the past and is
likely to continue to be highly volatile and subject to wide fluctuations. In
addition, the stock market has experienced extreme

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price and volume fluctuations. Investors may be unable to resell their shares of
our common stock at or above their purchase price.

    Additionally, in the past, following periods of volatility in the market
price of a particular company's securities, securities class action litigation
has often been brought against that company. Many companies in our industry have
been subject to this type of litigation in the past. We may also become involved
in this type of litigation. Litigation is often expensive and diverts
management's attention and resources, which could materially and adversely
affect our business, financial condition and results of operations.

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

    As of March 31, 2002, we had 136,064,507 shares of common stock outstanding,
excluding 21,672,126 shares subject to options outstanding as of such date under
our stock option plans that are exercisable at prices ranging from $0.01 to
$1,272.35 per share. 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 our common stock prevailing from time to time. 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 reduce prevailing market prices for our common stock.

                         RISKS RELATED TO OUR INDUSTRY

ADVERTISERS MAY BE RELUCTANT TO DEVOTE A PORTION OF THEIR BUDGETS TO INTERNET
ADVERTISING AND DIGITAL MARKETING PRODUCTS AND SERVICES.

    Companies doing business on the Internet, including DoubleClick, must
compete with traditional advertising media, including television, radio, cable
and print, for a share of advertisers' total marketing budgets. Potential
customers may be reluctant to devote a significant portion of their marketing
budget to Internet advertising or digital marketing products and services if
they perceive the Internet to be a limited or ineffective marketing medium. Any
shift in marketing budgets away from Internet advertising spending or digital
marketing products and services could materially and adversely affect our
business, results of operations or financial condition.

THE LACK OF APPROPRIATE ADVERTISING MEASUREMENT STANDARDS OR TOOLS MAY CAUSE US
TO LOSE CUSTOMERS OR PREVENT US FROM CHARGING A SUFFICIENT AMOUNT FOR OUR
PRODUCTS AND SERVICES.

    Because digital marketing remains a new discipline, there are currently no
generally accepted methods or tools for measuring the efficacy of digital
marketing as there are for advertising in television, radio, cable and print.
Many traditional advertisers may be reluctant to spend sizable portions of their
budget on digital marketing until there exist widely accepted methods and tools
that measure the efficacy of their campaigns.

    We could lose customers or fail to gain customers if our products and
services do not utilize the measuring methods and tools that may become
generally accepted. Further, new measurement standards and tools could require
us to change our business and the means used to charge our customers, which
could result in a loss of customer revenues.

NEW LAWS IN THE UNITED STATES AND INTERNATIONALLY COULD HARM OUR BUSINESS.

    Laws applicable to Internet communications, e-commerce, Internet
advertising, data protection and direct marketing are becoming more prevalent in
the United States and worldwide. For example, various U.S. state and foreign
governments may attempt to regulate our ad delivery or levy sales or other taxes
on our activities.

    In addition, the laws governing the Internet remain largely unsettled, even
in areas where there has been some legislative action. It is difficult to
determine whether and how existing laws such as those governing intellectual
property, data protection, libel and taxation apply to the Internet, Internet
advertising and our business.

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    The growth and development of Internet commerce has prompted calls for more
stringent consumer protection laws, both in the United States and abroad. These
proposals may seek to impose additional burdens on companies conducting business
over the Internet. In particular, new limitations on the collection and use of
information relating to Internet users are being considered by legislatures and
regulatory agencies in the United States and internationally. We are unable to
predict whether any particular proposal will pass, or the nature of the
limitations in those proposals. Since many of the proposals are in their
development stage, we cannot yet determine the impact these may have on our
business. In addition, it is possible that changes to existing law, including
both amendments to existing law and new interpretations of existing law, could
have a material and adverse impact on our business, financial condition and
results of operations.

    The following are examples of proposals currently being considered in the
United States and internationally:

     Legislation has been proposed in the United States and elsewhere in the
     world to regulate the use of cookie technology. Our technology uses cookies
     for ad targeting and reporting, among other things. It is possible that the
     changes required for compliance are commercially unfeasible, or that we are
     simply unable to comply and, therefore, may be required to discontinue the
     relevant business practice.

     Data protection officials in certain European countries have voiced the
     opinion that Internet protocol addresses and cookies are intrinsically
     personally-identifiable information. In those countries in which this
     opinion prevails, the applicable national data protection law could be
     interpreted to subject us to a more restrictive regulatory regime. We
     cannot assure you that our current policies and procedures would meet
     more restrictive standards. The cost of such compliance could be material
     and we may not be able to comply with the applicable national regulations
     in a timely or cost-effective manner.

     Legislation has been proposed to prohibit the sending of 'unsolicited
     commercial email.' Although our email delivery is consent-based, it is
     possible that legislation will be passed that requires us to change our
     current practices or subjects us to increased liabilities.

    Any legislation enacted or regulation issued could dampen the growth and
acceptance of the digital marketing industry in general and of our offering in
particular. In response to evolving legal requirements, we may be compelled to
change or discontinue an existing offering, business or business model, or to
cancel a proposed offering or new business. Any of these circumstances could
have a material and adverse impact on our business, financial condition and
results of operations. These changes could also require us to incur significant
expenses, and we may not find ourselves able to replace the revenue lost as a
consequence of the changes.

    We are a member of the Network Advertising Initiative and the Direct
Marketing Association, both industry self-regulatory organizations. We cannot
assure you that these organizations will not adopt additional, more burdensome
guidelines, which could materially and adversely affect our business, financial
condition and results of operations.

DEMAND FOR OUR PRODUCTS AND SERVICES MAY DECLINE DUE TO THE PROLIFERATION OF
SOFTWARE DESIGNED TO PREVENT THE DELIVERY OF INTERNET ADVERTISING OR BLOCK THE
USE OF COOKIES.

    Our business may be adversely affected by the adoption by computer users of
technologies that harm the performance of our products and services. For
example, computer users may use software designed to filter or prevent the
delivery of Internet advertising, or Internet browsers set to block the use of
cookies. We cannot assure you that the number of computer users who employ these
or other similar technologies will not increase, thereby diminishing the
efficacy of our products and services. In the case that one or more of these
technologies are widely adopted, demand for our products and services would
decline.

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OUR BUSINESS MAY SUFFER IF THE WEB INFRASTRUCTURE IS UNABLE TO EFFECTIVELY
SUPPORT THE GROWTH IN DEMAND PLACED ON US.

    Our success will depend, in large part, upon the maintenance of the Web
infrastructure, such as a reliable network backbone with the necessary speed,
data capacity and security and timely development of enabling products such as
high speed modems, for providing reliable Web access and services and improved
content. We cannot assure you that the Web infrastructure will continue to
effectively support the demands placed on us as the Web continues to experience
increased numbers of users, frequency of use or increased bandwidth requirements
of users. Even if the necessary infrastructure or technologies are developed, we
may have to spend considerable amounts to adapt our products and services
accordingly. Furthermore, the Web has experienced a variety of outages and other
delays due to damage to portions of its infrastructure. These outages and delays
could impact the Web sites of Web publishers using our products and services and
the level of user traffic on Web sites on the DoubleClick network.

DOUBLECLICK DATA IS DEPENDENT ON THE SUCCESS OF THE DIRECT MARKETING INDUSTRY
FOR OUR FUTURE SUCCESS.

    The future success of DoubleClick Data is dependent in large part on the
continued demand for our services from the direct marketing industry, including
the catalog industry, as well as the continued willingness of catalog operators
to contribute their data to us. Most of our Abacus customers are large consumer
merchandise catalog operators in the United States. A significant downturn in
the direct marketing industry generally, including the catalog industry, or
withdrawal by a substantial number of catalog operators from the Abacus
Alliance, would have a material adverse effect on our business, financial
condition and results of operations. Many industry experts predict that
electronic commerce, including the purchase of merchandise and the exchange of
information via the Internet or other media, will increase significantly in the
future. To the extent this increase occurs, companies that now rely on catalogs
or other direct marketing avenues to market their products may reallocate
resources toward these new direct marketing channels and away from
catalog-related marketing or other direct marketing avenues, which could
adversely affect demand for some DoubleClick Data services. In addition, the
effectiveness of direct mail as a marketing tool may decrease as a result of
consumer saturation and increased consumer resistance to direct mail in general.

INCREASES IN POSTAL RATES AND PAPER PRICES COULD HARM DOUBLECLICK DATA.

    The direct marketing activities of our Abacus Alliance customers are
adversely affected by postal rate increases, especially increases that are
imposed without sufficient advance notice to allow adjustments to be made to
marketing budgets. Higher postal rates may result in fewer mailings of direct
marketing materials, with a corresponding decline in the need for some of the
direct marketing services offered by us. Increased postal rates can also lead to
pressure from our customers to reduce our prices for our services in order to
offset any postal rate increase. Higher paper prices may also cause catalog
companies to conduct fewer or smaller mailings which could cause a corresponding
decline in the need for our services. Our customers may aggressively seek price
reductions for our services to offset any increased materials cost. Any of these
occurrences could materially and adversely affect the business, financial
condition and results of operations of our Abacus business.

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<Page>
                           PART II: OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

    Beginning in May 2001, a number of substantially identical class action
complaints alleging violations of the federal securities laws were filed in the
United States District Court for the Southern District of New York naming us and
certain of our officers and directors and certain underwriters of our initial
public offering as defendants. All of the initial complaints filed against us
and our officers and directors were dismissed without prejudice. However, the
plaintiff's filed an amended complaint on April 24, 2002 against us, certain of
our officer and directors and certain underwriters of our follow-on offerings
alleging, among other things, that the underwriters violated the securities laws
by failing to disclose in the offering's registration statements certain alleged
compensation arrangements entered into by the underwriters (such as commission
payments or stock stabilization practices) and by engaging in manipulative
practices to artificially inflate the price of our stock. We and some of our
officers and directors are named in the suit pursuant to Section 11 of the
Securities Act of 1933 and Section 10(b) of the Securities Exchange Act 1934 on
the basis of an alleged failure to disclose the underwriters' alleged
compensation and manipulative practices. These actions seek, among other things,
unspecified damages and costs, including attorneys fees.

    We are a defendant in 20 lawsuits concerning Internet user privacy and our
data collection and other business practices. These lawsuits were filed
throughout 2000. Eighteen of these actions are styled as class actions, one
action is brought on behalf of the general public of the State of California and
one is brought against us and ClearStation, Inc. on behalf of the State of
Illinois by the State's Attorney of Cook County, Illinois. The actions seek,
among other things, injunctive relief, civil penalties and unspecified damages.
Five of the actions were filed in California state court, 13 in federal court,
one in Texas state court and one in Illinois state court. On March 31, 2000, the
plaintiff in one of the California state court proceedings filed a petition,
ordered by the court on May 11, 2000, to coordinate the four actions then
pending in the California state courts. The Judicial Panel on Multidistrict
Litigation granted our motions to transfer, coordinate and consolidate all
thirteen federal actions before Judge Buchwald in the Southern District of New
York. On March 28, 2001, Judge Buchwald dismissed all federal lawsuits against
us. In conjunction with a proposed settlement, the plaintiffs have withdrawn
their appeal to the Second Circuit Court of Appeals. In March 2002, the parties
filed a settlement agreement with the federal court that would resolve the
federal lawsuits and the state lawsuits in California and Texas, to which the
court gave preliminary approval on March 29, 2002. On March 29, 2002, the
parties issued a joint press release outlining the terms of the settlement. A
hearing concerning final approval of the settlement is scheduled before Judge
Buchwald on May 21, 2002. Our ad serving and data collection practices are also
the subject of inquiries by the attorneys general of several states. We are
cooperating fully with all such inquiries.

    Following the announcement of our proposed merger with NetGravity on
July 27, 1999, a complaint, styled as a class action, was filed in the San Mateo
County, California, Superior Court against NetGravity and several of its
directors. The complaint alleges that the directors of NetGravity breached their
fiduciary duties to NetGravity's stockholders in connection with the negotiation
of the proposed merger. The complaint asked the court to enjoin the consummation
of the merger, or, alternatively, sought to rescind the merger or an award of
unspecified damages from the defendants in the event the merger was consummated.
The parties have filed a settlement agreement with the court, to which the court
gave preliminary approval. A hearing concerning final approval of the settlement
is scheduled for July 23, 2002. The settlement, which we believe will be covered
by our insurer, would require the payment of $270,000 into an escrow account to
cover the reasonable fees and expenses incurred by plaintiff and his counsel.

    We believe that the claims asserted by these lawsuits are without merit. We
intend to defend these actions vigorously, however, due to the inherent
uncertainties of litigation, we cannot accurately predict the ultimate outcome
of the litigation. An unfavorable outcome in litigation could materially and
adversely affect our business, financial condition and results of operations.

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ITEM 6. EXHIBITS AND REPORT ON FORM 8-K

    (a) None.

    (b) Reports on Form 8-K

    We filed a Current Report on Form 8-K, Items 5 and 7, on January 16, 2002,
attaching the press release we issued on January 15, 2002 announcing our
financial results for the quarter and fiscal year ended December 31, 2001 and
announcing that MessageMedia, Inc. elected to extend to February 8, 2002 the
termination date with respect to the merger agreement between DoubleClick and
MessageMedia, Inc.

    We filed a Current Report on Form 8-K, Items 5 and 7, on January 29, 2002,
attaching the press release that announced the consummation of our acquisition
of MessageMedia, Inc.

    We filed a Current Report on Form 8-K, Items 2 and 7, on February 11, 2002,
attaching the press release that announced the consummation of the sale of our
European Media business to AdLINK Internet Media AG and attaching related pro
forma financial information.

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                                   SIGNATURE

    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.

Date: May 15, 2002                        DOUBLECLICK INC.

                                          By:          /s/ THOMAS BOYLE
                                              ..................................
                                                        THOMAS BOYLE
                                                    CORPORATE CONTROLLER
                                                (CHIEF ACCOUNTING OFFICER AND
                                                  DULY AUTHORIZED OFFICER)

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