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                                                                   EXHIBIT 10.17

                                  ONElist, Inc.

                               SERIES A PREFERRED

                            STOCK PURCHASE AGREEMENT

                        First Closing: December 28, 1998

                         Second Closing: April 29, 1999

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                                  ONElist, Inc.

                   SERIES A PREFERRED STOCK PURCHASE AGREEMENT

        THIS AGREEMENT is made as of December 28,1998, by and between ONElist,
Inc., a California corporation, with headquarters at 951 Old County Road #107,
Belmont, CA 94002, and its predecessor (the "Company"), and each of the
investors listed on Schedule 1.2 hereto (as such Schedule may be updated from
time to time) (collectively, the "Purchasers"). In consideration of mutual
promises, covenants and conditions hereinafter set forth, the parties hereby
agree as follows:

        1. Authorization and Sale of the Shares.

               1.1 Authorization, Filing of Restated Articles of Incorporation.
On or prior to the Closing (as defined below), the Company shall have authorized
the issuance and sale at the Closing (as defined below) pursuant to the terms
and conditions hereof of up to 2,316,289 shares of its Series A Preferred Stock
(the "Preferred Shares"), having the rights, restrictions, privileges and
preferences as set forth in the form of the Amended and Restated Articles of
Incorporation of the Company (the "Restated Articles") attached hereto as
Exhibit A. The Company shall adopt and file the Restated Articles with the
Secretary of State of California on or before the Closing.

               1.2 Sale and Issuance of the Preferred Shares. Subject to the
terms and conditions hereof, at the Closing the Company will issue and sell to
each Purchaser and each Purchaser will purchase from the Company the number of
Preferred Shares set forth opposite such Purchaser's name on Schedule 1.2
attached hereto for a consideration of $1.7377 per share (the "Purchase Price").

        2. Closing, Delivery.

               2.1 Closing Date.

                      (a) Closing. The closing (the "Closing") of the purchase
and sale of the Preferred Shares to the Purchasers shall take place at the
offices of Wilson Sonsini Goodrich & Rosati, 650 Page Mill Road, Palo Alto,
California 94304 at 10:00 a.m., on December 28, 1998, or at such other time and
place as the Company and the Purchasers may agree. The date of the Closing shall
be referred to as the "Closing Date."

               2.2 Delivery. Subject to the terms of this Agreement, at the
Closing, the Company shall deliver to each of the Purchasers a certificate (or
certificates) registered in such Purchaser's name representing the number of
Preferred Shares purchased against payment of the Purchase Price therefor by
check payable to the Company, wire transfer per the Company's instructions, or
any combination of the foregoing payable to the Company.

               2.3 Use of Proceeds. The Company shall use the proceeds upon the
sale of the Preferred Shares for general working capital purposes.

        3. Representations and Warranties of the Company. In order to induce the
Purchasers to purchase the Preferred Shares, the Company makes the following
representations and warranties which are true, correct and complete in all
respects on the date hereof and shall be true, correct and complete in all
respects as of the

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Closing, subject to the exceptions set forth on the Disclosure Schedule attached
hereto as Exhibit B (the "Disclosure Schedule").

               3.1 Organization, Good Standing and Power. The Company is a
corporation duly organized, validly existing and in good standing under the laws
of the State of California and has all requisite corporate power and authority
to own its properties and to carry on its business as currently conducted. The
Company is duly licensed or qualified to do business as a foreign corporation in
each jurisdiction where the failure to do so would constitute a Material Adverse
Change (as defined in Section 3.6 below).

               3.2 Authorization. The Company has all necessary corporate power
and has taken or will take prior to the Closing all necessary corporate action
required for the due authorization, execution, delivery and performance by the
Company of this Agreement, the Rights Agreement (the "Rights Agreement")
referred to in Section 5.1 and the Right of First Refusal and Co-Sale Agreement
(the "Co-Sale Agreement") referred to in Section 5.1 (collectively, the "Related
Agreements") and any other agreements or instruments to be executed by the
Company in connection herewith or therewith and the consummation of the
transactions contemplated herein or therein, and for the due authorization,
issuance and delivery of the Preferred Shares. The issuance of the Preferred
Shares does not require any further corporate action and is not and will not,
except as provided in the Related Agreements, be subject to any preemptive
right, right of first refusal or the like. This Agreement, the Related
Agreements and the other agreements and instruments to be executed by the
Company in connection herewith or therewith will each, when executed by the
Company, be a valid and binding obligation of the Company enforceable in
accordance with its respective terms, except as such enforceability may be
limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium or
other similar federal or state laws affecting the rights of creditors, (ii)
rules of law governing specific performance, injunctive relief or other
equitable remedies (whether considered in a proceeding at law or in equity) or
(iii) indemnification provisions to the extent limited by statutes, judicial
decisions or public policy considerations.

               3.3 Government Approvals. No consent, approval, license or
authorization of, or designation, declaration or filing with, any court or
governmental authority is or will be required on the part of the Company in
connection with the execution, delivery and performance by the Company of this
Agreement, any of the Related Agreements and any other agreements or instruments
executed by the Company in connection herewith or therewith, or in connection
with the issuance of the Preferred Shares the failure of which would cause a
Material Adverse Change except for (i) those which have already been made or
granted, (ii) those required to be made pursuant to (A) Section 25102(f) of the
California Corporate Securities Law of 1968, as amended, and the rules
thereunder (the "Law"), or (b) the securities laws of any other state in which
the Preferred Shares will be issued or sold hereunder and (iii) any applicable
state securities commissions as specifically provided for in the Rights
Agreement described in Section 5. 1 (f).

                      3.4 Capitalization. The authorized capital stock of the
Company as of the Closing Date and immediately prior to the Closing Date is
10,000,000 shares of Common Stock and 2,400,000 shares of Preferred Stock, all
of which have been designated Series A Preferred Stock (the "Series A Shares").
There are issued and outstanding 2,000,000 shares of the Company's Common Stock.
There are no issued and outstanding shares of Series A Preferred Stock
immediately prior to the Closing. The holders of record of the currently issued
and outstanding shares of Common Stock immediately prior to the Closing are as
set forth in Section 3.4 of the Disclosure Schedule. All such issued and
outstanding shares have been duly authorized and validly issued, are fully paid
and nonassessable, and were issued in compliance with all applicable state and
federal laws concerning the issuance of securities. Except as set forth in the
Related Agreements and in Section 3.4 of the Disclosure Schedule, there are no
other outstanding rights, options, warrants, conversion rights or agreements

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for the purchase or acquisition from the Company of any shares of its capital
stock (and a list of holders of such outstanding rights, options, warrants,
conversion rights and agreements for the purchase or acquisition from the
Company of any shares of its capital stock is set forth in Section 3.4 of the
Disclosure Schedule), except that the Company has (i) reserved 1,165,000 shares
of its Common Stock for issuance under the Company's 1998 Stock Option Plan to
its employees, consultants, directors or officers and (ii) reserved 2,316,279
shares of its Common Stock for issuance upon conversion of the Series A Shares
of the Company to Common Stock of the Company. Except as set forth in Section
3.4 of the Disclosure Schedule, the Company is not a party or subject to any
agreement or understanding between any persons or entities which affects or
relates to the voting or giving of written consents with respect to any
securities or by any director of the Company, except as provided for in the
Related Agreements.

               3.5 Subsidiaries. The Company has neither any subsidiaries nor
any joint venture relationships nor any investment or other equity or
equity-like interest in, or any outstanding loan or advance to or from, any
person, including, without limitation, any officer, director or shareholder of
the Company except travel, meal and similar reimbursement obligations created in
the ordinary course of business.

               3.6 Financial Information. The Company has attached hereto as
Schedule 3.6 to the Disclosure Schedule the unaudited financial statements of
the Company for the period ended December 15, 1998 (the "Unaudited Financial
Statements"). The Unaudited Financial Statements are in accordance with the
books and records of the Company and present fairly in accordance with generally
accepted accounting principles applied on a basis consistent with prior periods
the financial condition and results of operations of the Company as of the dates
and for the periods shown, subject to year end adjustments which will not be
material, and subject to the absence of footnotes otherwise required. The
Company has no liability, contingent or otherwise, that is not adequately
reflected in or reserved against in the Unaudited Financial Statements that
could materially and adversely affect the financial condition of the Company.
Since the date of the Unaudited Financial Statements, (i) there has been no
Material Adverse Change (as defined below) in the business, assets, liabilities,
condition (financial or otherwise) or operations of the Company or its
predecessor except for changes in the ordinary course of business which,
individually or in the aggregate, have not been materially adverse and (ii)
none of the business, financial condition, operations, property or affairs of
the Company has been materially adversely affected by any occurrence or
development, individually or in the aggregate, whether or not insured against.
"Material Adverse Change" means any change in, or effect on, the business,
conditions, affairs or operations of the Company (including all subsidiaries, if
any) or in any of its properties or assets, or any material impairment of the
right or ability of the Company (including all subsidiaries, if any) to carry on
its business as now conducted or as proposed to be conducted in the future (the
"Business") (x) that is, or is reasonably likely to be, materially adverse to
the results of the operations or the financial condition of the Company (or any
subsidiary) or the Business or (y) that requires or is reasonably likely to
require the expenditure of Ten Thousand Dollars ($10,000) or more, individually
or in the aggregate.

               3.7 Events Subsequent to the Date of the Financial Statements.
Since November 30, 1998, the Company has not (i) issued any capital interest,
stock, bond or other security, (ii) borrowed any amount or incurred or become
subject to any liability (absolute, accrued or contingent), except liabilities
under contracts entered into in the ordinary course of business except travel,
meal and similar reimbursement obligations created in the ordinary course of
business, (iii) discharged or satisfied any lien or encumbrance or incurred or
paid any obligation or liability (absolute, accrued or contingent) other than
current liabilities shown on the Unaudited Financial Statements and current
liabilities incurred since November 30, 1998, in the ordinary course of
business, (iv) declared or made any payment or distribution to shareholders or
purchased or redeemed any shares of its capital stock, capital interest or other
securities, (v) mortgaged, pledged or subjected to lien any of

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its assets, tangible or intangible, other than liens of current real property
taxes not yet due and payable or mechanics' or materialmen's or similar inchoate
liens relating to amounts not yet due and payable, (vi) sold, assigned or
transferred any of its tangible assets except in the ordinary course of
business, or canceled any debt or claim, except in the ordinary course of
business, (vii) sold, assigned, transferred or granted any license with respect
to any patent, trademark, trade name, service mark, copyright, trade secret or
other intangible asset, except pursuant to license or other agreements entered
into in the ordinary course of business, (viii) suffered any loss of property or
waived any right of substantial value whether or not in the ordinary course of
business, (ix) made any change in officer compensation other than in the
ordinary course of business, (x) made any material change in the manner of
business or operations of the Company, its predecessor or any of their
respective subsidiaries, (xi) entered into any transaction except in the
ordinary course of business or as otherwise contemplated hereby or (xii) entered
into any commitment (contingent or otherwise) to do any of the foregoing.

               3.8 Litigation . There is no litigation or governmental
proceeding pending or, to the knowledge of the Company, threatened against the
Company or its predecessor or affecting any of the Company's properties or
assets, or against any officer, key employee or shareholder of the Company or
its predecessor in his capacity as such, nor, to the knowledge of the Company,
has there occurred any event which questions the validity of this Agreement and
the Related Agreements or any action taken or to be taken in connection
herewith, including in each case, without limitation, actions pending or, to the
knowledge of the Company, threatened, involving the prior employment of any of
the Company's employees, the use in connection with the Business of any
information or techniques allegedly proprietary to any of its former employees,
or their obligations under any agreements with prior employers. There is no
governmental investigation pending or, to the best knowledge of the Company,
threatened against the Company or its predecessor or affecting any of the
Company's properties or assets, or against any officer, key employee or
shareholder of the Company or its predecessor in his capacity as such. Neither
the Company, nor, to the best of its knowledge, any officer, key employee or
shareholder of the Company or its predecessor, in his capacity as such, is in
default with respect to any order, writ, injunction, decree, ruling or decision
of any court, commission, board or other government agency which may materially
and adversely affect the Business or assets of the Company. There is no action,
suit, proceeding or investigation by the Company currently pending or which the
Company currently intends to initiate.

               3.9 Compliance with Laws and Other Instruments. The Company is as
of the Closing Date in compliance with all of the provisions of this Agreement
and of its Restated Articles and in all material respects with the provisions of
(i) each judgment, decree and judicial order by which it is bound or to which it
or any of its properties are subject and to its knowledge, each statute, rule or
regulation applicable to the Company and (ii) each mortgage, indenture, lease,
license, other agreement or instrument by which it is bound or to which it or
any of its properties are subject. Neither the execution, delivery or
performance of this Agreement and the Related Agreements, nor the offer,
issuance, sale or delivery of the Preferred Shares in accordance with the
provisions of this Agreement and the Restated Articles, with or without the
giving of notice or passage of time, or both, will violate, or result in any
breach of, or constitute a default under, or result in the imposition of any
encumbrance in any material respect upon any asset of the Company pursuant to
any provision of the Company's Restated Articles, or, to the best knowledge of
the Company, any statute, rule or regulation applicable to the Company, or any
judgment, decree, judicial order, mortgage, indenture, lease, license or other
agreement or instrument by which the Company is bound or to which the Company or
any of its properties are subject, or, to the best knowledge of the Company,
will cause the Company to lose the benefit of any material right or privilege it
currently enjoys or cause any person who is expected to normally do business
with the Company to discontinue to do so on substantially the same basis.

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               3.10 Taxes. The Company has filed all tax returns (including
statements of estimated taxes owed) required to be filed within the applicable
periods for such filings and has paid all taxes required to be paid (other than
those contested in good faith for which adequate reserves have been
established), and has established adequate reserves (net of estimated tax
payments already made) for the payment of all taxes payable in respect of the
period subsequent to the last periods covered by such returns. There is no
pending dispute with any taxing authority relating to any of such returns and
the Company has not received notice of any proposed liability for any tax to be
imposed upon the properties or assets of the Company. No deficiencies for any
tax are currently assessed against the Company, and no tax returns of the
Company have ever been audited, and, to the actual knowledge of the Company,
there is no such audit pending or threatened. There is no tax lien, whether
imposed by any federal, state or local taxing authority, outstanding against the
assets, properties or business of the Company or its predecessor, except such
liens for taxes not yet due and payable as may accrue in the ordinary course of
business and for which the Company has established reasonable reserves and as
would not, in any case, constitute a Material Adverse Change. For the purposes
of this Agreement, the term "tax" shall include all federal, state and local
taxes, including income, franchise, property, sales, withholding, payroll and
employment taxes.

               3.11 Real Property.

                      (a) Schedule 3.11 to the Disclosure Schedule sets forth
the addresses and uses of all real property that the Company owns, leases or
subleases, and any material lien or encumbrance on any such owned real property
or the Company's leasehold interest therein, specifying in the case of each such
lease or sublease, the name of the lessor or sublessor, as the case may be, and
the lease term. Copies of all leases have been provided to special counsel to
the Purchasers.

                      (b) The Company has good and marketable title to, and owns
free and clear of all liens and encumbrances, all property listed as owned by
the Company on Schedule 3.11, and, to the knowledge of the Company, there is no
material violation of any law, regulation or ordinance (including without
limitation laws, regulations or ordinances relating to zoning, environmental,
city planning or similar matters) relating to any real property owned, leased or
subleased by the Company.

                      (c) There are no defaults by the Company or, to the
knowledge of the Company, by any other party thereto, which might curtail in any
material respect the current use of the Company's property listed on Schedule
3.11. The performance by the Company of this Agreement and the Related
Agreements will not result in the termination of, or in any increase of any
amounts payable under, any lease listed on Schedule 3.11.

               3.12 Personal Property. Except for property sold or otherwise
disposed of in the ordinary course of business since September 30, 1998, the
Company owns free and clear of any liens or encumbrances, all of the personal
property reflected as owned by the Company in the balance sheet contained in the
Unaudited Financial Statements, and all other material items of personal
property acquired by the Company through the date hereof. All material items of
such personal property are in good operating condition, normal wear and tear
excepted.

               3.13 Patents, Trademarks, etc.

                      (a) Set forth on Schedule 3.13 is a list of all patents,
patent rights, patent applications, trademarks, trademark applications, service
marks, service mark applications, trade names and registered copyrights, and all
applications for such that are in the process of being prepared, owned by or
registered in the

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name of the Company, or of which the Company is a licensor or licensee or in
which the Company has any right, except licenses to commercially available
software legally in the possession of the Company and having a purchase price of
less than $2,000 per copy. The Company owns and possesses sufficient right,
title and interest in and to, or has obtained licenses to use, all software,
software tools, works of authorship, copyrights, know-how, trade secrets and
registered trade names (and to its best knowledge owns and possesses sufficient
right, title and interest in and to, or has obtained licenses to use, all
patentable inventions and common law tradenames) used in or necessary for the
conduct of its Business, free and clear of all liabilities, charges, liens,
pledges, mortgages, restrictions, adverse claims, security interests, rights of
others and encumbrances (including, without limitation, distribution rights)
(all of which are referred to as "Proprietary Rights"), except, in each case,
where such failure would not constitute a Material Adverse Change. The foregoing
representation as it relates to Third Party Technology (as defined herein) is
limited to the Company's interest pursuant to the Third Party Licenses (as
defined herein), all of which are, to the best knowledge of the Company, valid
and enforceable and in full force and effect and which grant the Company such
rights to Third Party Technology as are employed in or necessary to the
Business. Schedule 3.13 contains (i) an accurate and complete description of all
registered and unregistered trademarks and trade names owned or licensed to the
Business, and a list of all licenses and other agreements relating thereto and
(ii) a list of all licenses and other agreements with third parties (the "Third
Party Licenses") relating to any software, copyrights, works of authorship,
technology, know-how or processes that the Company is licensed or otherwise
authorized by such third parties to use, market, distribute or incorporate into
products distributed by the Company, except licenses to commercially available
software legally in the possession of the Company and having a purchase price of
less than $2,000 per copy (such software, technology, know-how and processes are
collectively referred to as the "Third Party Technology"). All of the copyrights
in any of the Company Products (including but not limited to any works of
authorship incorporated in or distributed with such products) used by the
Company in connection with the Business are owned by the Company, or licensed to
the Company, and are in full force and effect, and the consummation of the
transactions contemplated hereby will not alter or impair any such rights. No
claims have been asserted against the Company, and to the best knowledge of the
Company (actual knowledge in the case of common law trademarks and tradenames
and patents) there are no claims which are reasonably likely to be asserted
against the Company or which have been asserted against others by any person
challenging the Company's use or distribution of any trademarks, tradenames,
copyrights, works of authorship, trade secrets, software, technology, know-how
or processes utilized by the Company (including, without limitation, the Third
Party Technology) or challenging or questioning the validity or effectiveness of
any license or agreement relating thereto (including, without limitation, the
Third Party Licenses). The use of any trademarks, tradenames, copyrights, works
of authorship, software, technology, know-how or processes by the Company in its
Business does not infringe on the rights of, constitute misappropriation of, or
in any way involve unfair competition with respect to, any proprietary
information or intangible property right of any third person or entity,
including, without limitation, any patent, trade secret, copyright, trademark or
tradename; provided, however, that such representation is made only to the
Company's actual knowledge with respect to common law trademarks and tradenames,
technology, patent or similar intangible property right where infringement is
possible without wrongful taking and where no readily accessible and exhaustive
search process would serve to have warned the Company.

                      (b) To the best knowledge of the Company, all designs,
drawings, specifications, source code, object code, documentation, flow charts
and diagrams incorporated in any of the Company's Proprietary Rights (the
"Company Components") constitute original creations of and were written,
developed and created solely and exclusively by employees of the Company
without the assistance of any third party or entity or were created by, or with
the assistance of, third parties who assigned ownership of or licensed their
rights to the Company in valid and enforceable agreements. The Company has at
all times used commercially

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reasonable efforts to treat its trade secrets as confidential and has not
disclosed or otherwise dealt with such items in such a manner as to cause the
loss of such trade secrets by release into the public domain.

                      (c) To the best knowledge of the Company, no employee of
the Company is in violation of any term of any employment contract, patent
disclosure agreement, confidentiality agreement or any other contract or
agreement relating to the relationship of any such employee with the Company or,
to the best knowledge of the Company, any other party because of the nature of
the Business.

               3.14 Agreements of Directors, Officers and Employees. To the best
knowledge of the Company, no director, officer or employee of or consultant to
the Company is in violation of any restrictive covenants contained in any
employment contract, non-competition agreement, non-disclosure agreement, patent
disclosure or assignment agreement or other contract or agreement relating to
the right of any such director, officer, employee or consultant to be employed
or engaged by the Company because of the nature of the Business, or relating to
the use of trade secrets or proprietary information of others.

               3.15 Governmental Approvals. The Company has all the permits,
licenses, orders, franchises and other rights and privileges of all federal,
state, local or foreign governmental or regulatory bodies necessary for the
Company to conduct its business as presently conducted, except, in each case,
where such failure would not constitute a Material Adverse Change. All such
permits, licenses, orders, franchises and other rights and privileges are in
full force and effect except, in each case, where such failure would not
constitute a Material Adverse Change and, to the best knowledge of the Company,
no suspension or cancellation of any of them is threatened, and none of such
permits, licenses, orders, franchises or other rights and privileges will be
adversely affected by the Closing.

               3.16 Contracts and Commitments. All contracts, obligations or
commitments to which the Company is a party or by which it is bound (including
purchase orders to the Company or placed by the Company) which involve
obligations of, or payments to, the Company in excess of Five Thousand Dollars
($5,000) and all agreements between the Company and its officers, directors,
consultants and employees are set forth on the list attached hereto as Schedule
3.17 (the "Contracts"), copies of which have been delivered to special counsel
to the Purchasers. All of the Contracts are valid and binding obligations of the
Company and in full force and effect in all material respects and enforceable by
the Company in accordance with their respective terms in all material respects,
except as such enforceability may be limited by (i) applicable bankruptcy,
insolvency, reorganization, moratorium or other similar federal or state laws
affecting the rights of creditors, (ii) rules of law governing specific
performance, injunctive relief or other equitable remedies (whether considered
in a proceeding at law or in equity) or (iii) indemnification provisions to the
extent limited by statutes, judicial decisions or public policy considerations.
The Company is not in material default under any of such Contracts. To the best
knowledge of the Company, no other party to any of the Contracts is in material
default thereunder.

               3.17 Securities Act. The Company has complied and will comply
with all applicable federal or state securities laws in connection with the
issuance and sale of the Preferred Shares, and, in reliance on the
representations and warranties of the Purchasers in Section 4 hereof, the
Company hereby asserts that (i) the offer, sale and issuance of the Preferred
Shares in conformity with the terms of this Agreement will not result in a
violation of the requirements of Section 5 of the Securities Act of 1933, as
amended (the "Act"), or the qualification or registration requirements of the
Law or other applicable blue sky laws and (ii) neither the Company nor, to the
best knowledge of the Company, anyone acting on its behalf has offered any of
the Preferred Shares, or similar securities, or solicited any offers to purchase
any of such securities, in such a manner as to bring the issuance and sale of
the Preferred Shares under the registration provisions of the Act.

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               3.18 Registration Rights. The Company has not granted or agreed
to grant any rights relating to registration of its capital stock under the Act
or state securities laws other than those contained in this Agreement or the
Related Agreements.

               3.19 Insurance Coverage. Schedule 3.20 to the Disclosure Schedule
contains an accurate summary of the insurance policies currently maintained by
the Company. There are currently no claims in excess of Ten Thousand Dollars
($10,000) in the aggregate pending against the Company under any insurance
policies currently in effect and covering the property, business or employees of
the Company, and all premiums due and payable with respect to the policies
maintained by the Company have been paid to date.

               3.20 Employee Matters. Except as set forth in Schedule 3.21
hereof, the Company does not have in effect, and its assets are not subject to,
any employment agreements, consulting agreements, deferred compensation, pension
or retirement agreements or arrangements, bonus, incentive or profit-sharing
plans or arrangements, or labor or collective bargaining agreements, written or
oral. The Company is in compliance, and its predecessor was in compliance, in
all material respects, with all applicable laws and regulations relating to
labor, employment, fair employment practices, terms and conditions of
employment, and wages and hours. Each officer, director, employee and consultant
of the Company has executed an agreement regarding confidentiality and
proprietary information, the form of which is attached hereto as Exhibit C.
Except as set forth in Schedule 3.21 hereof, the Company is not aware that any
officer, director or employee is obligated under any contract (including
licenses, covenants or commitments of any nature) or other agreement, or subject
to any judgment, decree or order of any court or administrative agency, that
would interfere in any material way with the use of his or her best efforts to
promote the interests of the Company, conflict with the Company's Business or
prevent any such employee from assigning inventions to the Company. Neither the
execution nor delivery of this Agreement or the Related Agreements, nor the
carrying on of the Company's business as proposed, will, to the Company's
knowledge, conflict with or result in a breach of the terms, conditions or
provisions of, or constitute a default under, any contract, covenant or
instrument under which any of such employees is now obligated. Furthermore, the
Company does not believe that it will be necessary for the Company to utilize
any inventions of any of its employees made prior to their employment by the
Company except in cases where obtaining a license to do such is expected to be
routine and license fees are not material to the Business.

               3.21 Labor Agreements and Actions. The Company is not bound by or
subject to (and none of its assets or properties are bound by or subject to) any
contract, commitment or arrangement with any labor union, and no labor union has
requested or, to the knowledge of the Company, has sought to represent any of
the employees, representatives or agents of the Company. There is no strike or
other labor dispute involving the Company pending, or to the knowledge of the
Company threatened, which could constitute a Material Adverse Change, nor is the
Company aware of any labor organization activity involving its employees. The
Company is not aware that any officer or key employee, or that any group of key
employees, intends to terminate his, her or its employment with the Company, nor
does the Company have a current intention to terminate the employment of any of
the foregoing. Subject to general principles related to wrongful termination of
employees, the employment of each officer and employee of the Company is
terminable at the will of the Company.

               3.22 No Brokers or Finders. No person has or will have, as a
result of the transactions contemplated by this Agreement, any right, interest
or claim against or upon the Company for any commission, fee or other
compensation as a finder or broker because of any act or omission by the
Company. -

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               3.23 Transactions with Affiliates. There are no loans, leases or
other continuing transactions involving more than $10,000 (in the aggregate)
annually between the Company, any officer or director of the Company or any
person owning five percent (5%) or more of the voting power of the Company on
the one hand and any respective family member or affiliate of such officer,
director or shareholder on the other hand.

               3.24 Assumptions, Guarantees, etc. of Indebtedness of Other
Persons. The Company has not assumed, guaranteed, endorsed or otherwise become
directly or contingently liable on or for any indebtedness of any other person,
except guarantees by endorsement of negotiable instruments for deposit or
collection or similar transactions in the ordinary course of business.

               3.25 Disclosures. Neither this Agreement, any Schedule or Exhibit
to this Agreement, the Related Agreements, the Unaudited Financial Statements,
nor any other agreement, document or written statement made by the Company and
furnished by the Company to the Purchasers or the Purchasers' special counsel in
connection with the transactions contemplated hereby, contains any untrue
statement of material fact or, when taken as a whole, omits to state any
material fact necessary to make the statements contained herein or therein not
misleading. There is no fact known to the Company that has not been disclosed
herein or in any other agreement, document or written statement furnished by the
Company to the Purchasers or their special counsel in connection with the
transactions contemplated hereby which is specific to the Company, as opposed to
the industry in which the Company operates, and which materially adversely
affects or is reasonably likely to materially and adversely affect the business,
properties, assets or financial condition of the Company.

        4.     Representations and Warranties of Purchasers and Restrictions on
               Transfer Imposed by the Securities Act.

               4.1 Representations and Warranties by the Purchasers. Each of the
Purchasers, severally and not jointly, represents and warrants to the Company as
follows:

                      (a) Investment Intent. This Agreement is made with each
Purchaser in reliance upon such Purchaser's representations to the Company,
evidenced by such Purchaser's execution of this Agreement, that such Purchaser
is acquiring the Preferred Shares and the Common Stock issuable upon conversion
of the Preferred Shares (collectively the "Securities") for investment for such
Purchaser's own account and not with a view to, or for resale in connection
with, any distribution or public offering thereof within the meaning of the Act
and the Law (or other applicable blue sky laws). Each Purchaser has the full
right, power and authority to enter into and perform this Agreement and the
Related Agreements, and this Agreement and the Related Agreements constitute
valid and binding obligations upon it enforceable in accordance with their
terms, except as such enforceability may be limited by (i) applicable
bankruptcy, insolvency, reorganization, moratorium or other similar federal or
state laws affecting the rights of creditors, (ii) rules of law governing
specific performance, injunctive relief or other equitable remedies (whether
considered in a proceeding at law or in equity) or (iii) indemnification
provisions to the extent limited by statutes, judicial decisions or public
policy considerations.

                      (b) Shares Not Registered . Each Purchaser understands and
acknowledges that the offering of the Preferred Shares pursuant to this
Agreement will not be registered under the Act or qualified under the Law (or
other applicable blue sky laws) on the grounds that the offering and sale of
securities contemplated by this Agreement are exempt from registration under the
Securities Act and exempt from qualification pursuant to the applicable
provisions of the Law (and the relevant provisions of other applicable blue sky
laws), and that the Company's reliance upon such exemptions is predicated upon
such Purchaser's

<PAGE>   11

representations set forth in this Agreement. Each Purchaser acknowledges and
understands that the Securities must be held indefinitely unless the Securities
are subsequently registered under the Act and qualified under the Law (or other
applicable blue sky laws) or an exemption from such registration and such
qualification is available.

                      (c) No Transfer . Each Purchaser covenants that in no
event will it dispose of any of the Securities (other than in conjunction with
an effective registration statement for the Securities under the Act) unless and
until (i) such Purchaser shall have notified the Company of the proposed
disposition and shall have furnished the Company with a statement of the
circumstances surrounding the proposed disposition and (ii) if reasonably
requested by the Company, such Purchaser shall have furnished the Company with
an opinion of counsel reasonably satisfactory in form and substance to the
Company to the effect that (X) such disposition will not require registration
under the Act and (y) appropriate action necessary for compliance with the Act,
the Law and any other applicable state, local or foreign law has been taken. It
is agreed that the Company will not require opinions of counsel for transactions
by a Purchaser made pursuant to Rule 144.

                      (d) Permitted Transfers. Notwithstanding the provisions of
subsection (b) above, no registration statement or opinion of counsel shall be
necessary for a transfer by such Purchaser, if it is a partnership, to a partner
of such partnership or a former partner of such partnership who leaves such
partnership after the date hereof, or to the estate of any such partner or
former partner or the transfer by gift, will or intestate succession of any
partner to his spouse or lineal descendants or ancestors, if the transferee
agrees in writing to be bound by the terms of this Agreement and the Related
Agreements to the same extent as if he were an original Purchaser hereunder
provided that the Company shall receive written notice of such transfer within
thirty (30) days of its completion.

                      (e) Knowledge and Experience. Each Purchaser (i) has such
knowledge and experience in financial and business matters as to be capable of
evaluating the merits and risks of such Purchaser's prospective investment in
the Securities, (ii) has the ability to bear the economic risks of such
Purchaser's prospective investment, (iii) has been furnished with and has had
access to such information as such Purchaser has considered necessary to make a
determination as to the purchase of the Securities together with such additional
information as is necessary to verify the accuracy of the information supplied,
(iv) has had all questions which have been asked by such Purchaser
satisfactorily answered by the Company and (v) has not been offered the
Securities by any form of advertisement, article, notice or other communication
published in any newspaper, magazine, or similar media or broadcast over
television or radio, or any seminar or meeting whose attendees have been invited
by any such media.

                      (f) Accredited Investor . Each Purchaser is an "accredited
investor" within the meaning of Rule 501 promulgated by the Securities and
Exchange Commission ("SEC") under the Act.

                      (g) Authorization. All action on the part of each of the
Purchaser's partners, board of directors, and shareholders, as applicable,
necessary for the authorization, execution, delivery and performance of this
Agreement and the Related Agreements by each Purchaser, the purchase of and
payment for the Preferred Shares and the performance of all of each Purchaser's
obligations hereunder and under the Related Agreements has been taken or will be
taken prior to the Closing. This Agreement and the Related Agreements, when
executed and delivered by each Purchaser, shall constitute valid and binding
obligations of the Purchasers, enforceable in accordance with their terms,
subject to laws of general application relating to bankruptcy, insolvency and
the relief of debtors and rules of law governing specific performance,
injunctive relief or other

<PAGE>   12

equitable remedies; provided, however, that the Purchaser makes no
representation as to the enforceability of the indemnification provisions
contained in the Rights Agreement.

                      (h) Holding Requirements. Each Purchaser understands that
if the Company does not (i) register its Common Stock with the SEC pursuant to
Section 12 of the Securities Exchange Act of 1934, as amended ("Exchange Act"),
(ii) become subject to Section 15(d) of the Exchange Act, (iii) supply
information pursuant to Rule 15c2-11 thereunder or (iv) have a registration
statement covering the Securities (or a filing pursuant to the exemption from
registration under Regulation A of the Act covering the Securities) under the
Securities Act in effect when it desires to sell the Securities, such Purchaser
may be required to hold the Securities for an indeterminate period. Each
Purchaser also understands that any sale of the Securities that might be made by
such Purchaser in reliance upon Rule 144 under the Act may be made only in
limited amounts in accordance with the terms and conditions of that rule.

               4.2 Legends. Each certificate representing the Securities shall
be endorsed with the following legends:

                      (a) Federal Legend. THE SECURITIES REPRESENTED BY THIS
CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE "ACT"), AND ARE "RESTRICTED SECURITIES" AS DEFINED IN RULE 144
PROMULGATED UNDER THE ACT. THE SECURITIES MAY NOT BE SOLD OR OFFERED FOR SALE OR
OTHERWISE DISTRIBUTED EXCEPT (i) IN CONJUNCTION WITH AN EFFECTIVE REGISTRATION
STATEMENT FOR THE SHARES UNDER THE ACT OR (ii) IN COMPLIANCE WITH RULE 144, OR
(iii) PURSUANT TO AN OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY, THAT SUCH
REGISTRATION OR COMPLIANCE IS NOT REQUIRED AS TO SAID SALE, OFFER OR
DISTRIBUTION.

                      (b) Other Legends. Any other legends required by the Law
or other applicable state blue sky laws. The Company need not register a
transfer of legended Securities, and may also instruct its transfer agent not to
register the transfer of the Securities, unless the conditions specified in each
of the foregoing legends are satisfied.

                      Removal of Legend and Transfer Restrictions. Any legend
endorsed on a certificate pursuant to subsection 4.2(a) and the stop transfer
instructions with respect to such legend Securities shall be removed, and the
Company shall issue a certificate without such legend to the holder of such
Securities if such Securities are registered under the Act and a prospectus
meeting the requirements of Section 10 of the Act is available or if such holder
satisfies the requirements of Rule 144(k) and, where reasonably deemed necessary
by the Company, the holder of the Securities provides the Company with an
opinion of counsel for such holder, reasonably satisfactory to the Company, to
the effect that (i) such holder meets the requirements of Rule 144(k) or (ii) a
public sale, transfer or assignment of such Securities may be made without
registration.

               4.4 Rule 144. Each Purchaser is aware of the adoption of Rule 144
by the SEC promulgated under the Act, which permits limited public resales of
securities acquired in a nonpublic offering, subject to the satisfaction of
certain conditions. Each Purchaser understands that under Rule 144, the
conditions include, among other things, the availability of certain current
public information about the issuer and the resale occurring not less than one
(1) year after the party has purchased and paid for the securities to be sold.

        5. Conditions to Closing

<PAGE>   13

               5.1 Conditions to Each Purchaser's Obligations at the Closing.
The obligation of each Purchaser to purchase the Preferred Shares at the Closing
is subject to the fulfillment to each Purchaser's satisfaction, on or prior to
the Closing Date, of the following conditions, any of which may be waived in
accordance with the provisions of Section 7.3 hereof.

                      (a) Representations and Warranties, Correct Performance of
Obligations. The representations and warranties made by the Company in Section 3
hereof, when read together with Exhibit B, shall be true and correct when made,
and shall be true and correct in all respects on the Closing Date with the same
force and effect as if they had been made on and as of said date. The Company's
Business and assets shall not have been subject to any Material Adverse Change
prior to the Closing Date. The Company shall have performed in all respects all
obligations and conditions herein required to be performed or observed by it on
or prior to the Closing Date.

                      (b) Consents and Waivers. The Company shall have obtained
in a timely fashion any and all consents, permits and waivers necessary or
appropriate for consummation of the transactions contemplated by this Agreement.

                      (c) Board of Directors; Board Committees. Effective on the
Closing (i) the Board of Directors of the Company shall initially be set at five
(5). The holders of Common Stock, voting together as a single class, shall be
entitled to elect two (2) directors. The holders of Series A Preferred Stock,
voting together as a single class, shall be entitled to elect two (2) directors,
which shall include one CMG@Ventures director and one Bertlesmann Ventures
director. The holders of Common Stock and the holders of Preferred Stock voting
together shall elect the remaining director. The members of the Compensation
Committee of the Board of Directors of the Company shall include a CMG@Ventures
director, an outside director and the Chief Executive Officer, and the members
of the Audit Committee of the Board of Directors of the Company shall include a
CMG@Ventures director and two outside directors.

                      (d) No Material Adverse Change. The business, properties,
assets or condition (financial or otherwise) of the Company and its respective
subsidiaries, if any, shall not have been materially adversely affected since
the date of this Agreement, whether by fire, casualty, act of God or otherwise,
and there shall have been no other changes in the Business, properties, assets,
condition (financial or otherwise), management or prospects of the Company or
any of its respective subsidiaries, if any, that would have a Material Adverse
Change.

                      (e) Filing of the Restated Articles. The Restated Articles
shall have been filed with the Secretary of State of the State of California.

                      (f) Rights Agreement. The Company and each Purchaser shall
have executed the Rights Agreement attached hereto as Exhibit D.

                      (g) Co-Sale Agreement. The Company, each Purchaser and
each Founder (as defined in the Co-Sale Agreement) shall have executed the
Co-Sale Agreement attached hereto as Exhibit E.

                      (h) Compliance Certificate. The Company shall have
delivered a Certificate, executed by the President of the Company and dated the
Closing Date, certifying to the fulfillment of the conditions specified in
subsections (a) and (b) of this Section 5.1.

<PAGE>   14

                      (i) Opinion of Counsel. The Purchasers shall have received
an opinion from Wilson Sonsini Goodrich & Rosati, Professional Corporation, the
Company's counsel, in substantially the form attached hereto as Exhibit F.

               5.2 Conditions to Obligations of the Company at the Closing. The
Company's obligation to sell and issue the Preferred Shares at the Closing is
subject to the fulfillment to the satisfaction of the Company on or prior to the
Closing Date of the following conditions, any of which may be waived in
accordance with the provisions of Section 7.3 hereof.

                      (a) Representations and Warranties Correct. The
representations and warranties made by the Purchasers in Section 4 hereof shall
be true and correct when made, and shall be true and correct on the Closing Date
with the same force and effect as if they had been made on and as of said date.

                      (b) Conditions Fulfilled. The conditions set forth in
subsections (b), (d), (e), (f) and (g) of Section 5.1 shall have been fulfilled.

                      (c) Consents, Permits, and Waivers. The Company shall have
obtained any and all consents, permits and waivers necessary or appropriate for
consummation of the transactions contemplated by the Agreement and the Related
Agreements (except for such as may be properly obtained subsequent to the
Closing).

        6. Termination.

               6.1 Termination by Mutual Written Consent. This Agreement may be
terminated, and the transactions contemplated hereby abandoned, at any time
prior to the Closing by the written agreement of the Company and the Purchasers.

               6.2 Termination for Breach. This Agreement may be terminated and
the transactions contemplated hereby may be abandoned at any time before the
Closing (or any date to which the Closing may have been extended by the written
agreement of the parties obligated to perform on such Closing) by any party
obligated to perform on the Closing if the conditions for its benefit set forth
in Sections 5.1 and 5.2, as the case may be, have not been satisfied on or prior
to the Closing and if the conditions for the benefit of the other parties have
been satisfied or waived, and if such performing party shall have given written
notice of termination to the non-performing party.

               6.3 Termination for Delay. Unless earlier terminated in
accordance with Section 6.1 or 6.2, this Agreement may be terminated and the
transactions contemplated hereby may be abandoned by the Company or the
Purchasers if the Closing does not occur by January 15, 1999; provided, however,
that the right to terminate this Agreement under this Section 6.3 shall not be
available to any party whose failure to fulfill any obligation under this
Agreement has been the cause of, or resulted in, the failure of the Closing to
occur on or before such date.

               6.4 Rights After Termination. Upon termination of this Agreement
under this Section 6, the parties shall be released from all obligations arising
hereunder, except as to any liability for misrepresentations, breach or default
in connection with any warranty, representation, covenant, duty or obligation
given, occurring or arising prior to the date of termination if the
non-breaching party has detrimentally relied thereon.

<PAGE>   15

        7. Miscellaneous.

               7.1 Survival of Representations. The representations, warranties,
covenants and agreements made herein or in any certificates or documents
executed in connection herewith shall survive the execution and delivery hereof
and the closing of the transaction contemplated hereby.

               7.2 Parties in Interest. Except as otherwise set forth herein,
all covenants, agreements, representations, warranties and undertakings
contained in this Agreement shall be binding on and shall inure to the benefit
of the respective successors and assigns of the parties hereto (including
transferees of any of the Preferred Shares).

               7.3 Amendments and Waivers. Amendments or additions to this
Agreement may be made, agreements with any decision of the Company may be made,
and compliance with any term, covenant, agreement, condition or provision set
forth herein may be omitted or waived (either generally or in a particular
instance and either retroactively or prospectively) upon the written consent of
the Company and the holders of a majority of the Preferred Shares (or Common
Stock issued upon conversion of the Preferred Shares). Prompt notice of any such
amendment or waiver shall be given to any person who did not consent thereto.
This Agreement (including the Schedules and Exhibits annexed hereto, which are
an integral part of this Agreement) constitutes the full and complete agreement
of the parties with respect to the subject matter hereof.

               7.4 Notices. All notices, requests, consents, reports and demands
shall be in writing and shall be hand delivered, sent by facsimile or other
electronic medium, or mailed, postage prepaid, to the Company or to the
Purchasers at the address set forth below each party's signature to this
Agreement or to such other address as may be furnished in writing to the other
parties hereto.

               7.5 Expenses. Each party hereto will pay its own expenses in
connection with the transactions contemplated hereby; provided, however, that if
and only if the acquisition of the Preferred Shares is consummated, the Company
shall pay all reasonable costs and expenses of the Purchasers in connection with
the investigation, preparation, execution and delivery of this Agreement (and
due diligence related thereto) and the other instruments and documents to be
delivered hereunder and the transactions contemplated hereby and thereby,
including the reasonable fees and disbursements of special counsel to the
Purchasers, not to exceed $10,000 in the aggregate for all such costs and
expenses.

               7.6 Counterparts. This Agreement and any Exhibit hereto may be
executed in multiple counterparts, each of which shall constitute an original
but all of which shall constitute but one and the same instrument. One or more
counterparts of this Agreement or any Exhibit hereto may be delivered via
telecopier, with the intention that they shall have the same effect as an
original counterpart hereof.

               7.7 Effect of Headings. The article and section headings herein
are for convenience only and shall not affect the construction hereof.

               7.8 Adjustments. All provisions of this Agreement shall be
automatically adjusted to reflect any split of capital interests (in the nature
of a stock split), distribution of additional capital interests to the existing
holders of capital interests (in the nature of a stock dividend) or other such
form of recapitalization.

<PAGE>   16

               7.9 Governing Law. This Agreement shall be deemed a contract made
under the laws of California and together with the rights and obligations of the
parties hereunder, shall be construed under and governed by the laws of
California.

               7.10 Entire Agreement. This Agreement and the other documents
delivered pursuant hereto constitute the full and entire understanding and
agreement between the parties with regard to the subjects hereof and thereof and
they supersede, merge and render void every other prior written and/or oral
understanding or agreement among or between the parties hereto.

               7.11 Severability. In case any provision of this Agreement shall
be found by a court of law to be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions of this
Agreement shall not in any way be affected or impaired thereby.

        IN WITNESS WHEREOF, the parties hereto have executed this Series A
Preferred Stock Purchase Agreement as of the date first written above.

                                           ONELIST, INC.
                                           a California Corporation

                                           Name:  Mark Fletcher
                                           Title: Chief Executive Officer and
                                                  President

                                           Address:  951 Old County Road # 107
                                                     Belmont, CA 94002

          Signature Page to Series A Preferred Stock Purchase Agreement<PAGE>   1
                                                                   EXHIBIT 10.18

                         FINDMAIL COMMUNICATIONS, INC.
                   SERIES A PREFERRED STOCK PURCHASE AGREEMENT

This Series A Preferred Stock Purchase Agreement (the "Agreement") is made as of
the 22nd day of June, 1998, by and between FindMail Communications, Inc., a
Delaware corporation (the "Company"), and the investors listed on Exhibit A
attached hereto (each a "Purchaser" and together, if more than one, the
"Purchasers").

The parties hereby agree as follows:

1. Purchase and Sale of Preferred Stock.

1.1 Sale and Issuance of Series A Preferred Stock.

(a) The Company shall adopt and file with the Secretary of State of the State of
Delaware on or before the Closing (as defined below) the First Amended and
Restated Certificate of Incorporation, in the form attached hereto as Exhibit B
(the "Restated Certificate").

(b) Subject to the terms and conditions of this Agreement, each Purchaser agrees
to purchase at the Closing and the Company agrees to sell and issue to each
Purchaser at the Closing that number of shares of Series A Preferred Stock set
forth opposite each such Purchaser's name on Exhibit A attached hereto at a
purchase price of $1.00 per share. The shares of Series A Preferred Stock issued
to the Purchaser pursuant to this Agreement shall be hereinafter referred to as
the "Stock."

1.2 Closing; Delivery.

(a) The purchase and sale of the Stock shall take place at the offices of
Venture Law Group, 2800 Sand Hill Road, Menlo Park, California, at 10:00 a.m.,
on June 22, 1998, or at such other time and place as the Company and the
Purchasers mutually agree upon, orally or in writing (which time and place are
designated as the "Closing").

(b) At the Closing, the Company shall deliver to each Purchaser a certificate
representing the Stock being purchased thereby against payment of the purchase
price therefor by check or by wire transfer to the Company's bank account.

2. Representations, Warranties and Covenants of the Company. The Company hereby
represents, warrants and covenants to each Purchaser that, except as set forth
on a Schedule of Exceptions attached hereto as Exhibit C, which exceptions shall
be deemed to be representations and warranties as if made hereunder:

2.1 Organization, Good Standing and Qualification. The Company is a corporation
duly organized, validly existing and in good standing under the laws of the
State of Delaware and has all requisite corporate power and authority to carry
on its business as now conducted and

<PAGE>   2

a proposed to be conducted. The Company is duly qualified to transact business
and is in good standing in each jurisdiction in which the failure so- to qualify
would have a material adverse effect on its business or properties.

2.2 Capitalization. The authorized capital of the Company consists, or will
consist, immediately prior to the Closing, of:

(a) Eight Hundred Fifty Thousand (850,000) shares of Preferred Stock, all of
which have been designated Series A Preferred Stock, none of which are issued
and outstanding immediately prior to the Closing. The rights, privileges and
preferences of the Preferred Stock are as stated in the Restated Certificate.

(b) Four Million Five Hundred Forty Thousand (4,540,000) shares of Common Stock,
Two Million Seven Hundred Ninety Thousand (2,790,000) shares of which are issued
and outstanding immediately prior to the Closing. All of the outstanding shares
of Common Stock have been duly authorized, fully paid and are nonassessable and
issued in compliance with all applicable federal and state securities laws. The
Company has reserved (i) Eight Hundred Fifty Thousand (850,000) shares of Common
Stock for issuance upon conversion of the Preferred Stock and (ii) Nine Hundred
Thousand (900,000) shares of Common Stock for issuance to officers, directors,
employees and consultants of the Company under the Company's 1998 Stock Option
Plan.

2.3 Subsidiaries. The Company does not currently own or control, directly or
indirectly, any interest in any other corporation, association, or other
business entity. The Company is not a participant in any joint venture,
partnership or similar arrangement.

2.4 Authorization. All corporate action on the part of the Company, its
officers, directors and stockholders necessary for the authorization, execution
and delivery of this Agreement, the Investors Rights Agreement, in the form
attached hereto as Exhibit D (the "Investors Rights Agreement"), the Co-Sale
Agreement in the form attached hereto as Exhibit E (the "Co-Sale Agreement"),
and the Voting Agreement in the form attached hereto as Exhibit F (the "Voting
Agreement" and collectively with this Agreement, the Investors Rights Agreement
and the Co-Sale Agreement, the "Agreements"), the performance of all obligations
of the Company hereunder and thereunder and the authorization, issuance and
delivery of the Stock and the Common Stock issuable upon conversion of the Stock
(together, the "Securities") has been taken or will be taken prior to the
Closing, and the Agreements, when executed and delivered by the Company, shall
constitute valid and legally binding obligations of the Company, enforceable
against the Company in accordance with their terms, except (a) as limited by
applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent
conveyance, and other laws of general application affecting enforcement of
creditors' rights generally, as limited by laws relating to the availability of
specific performance, injunctive relief, or other equitable remedies, or (b) to
the extent the indemnification provisions contained in the Investors Rights
Agreement may be limited by

                                      -2-
<PAGE>   3

applicable federal or state securities laws. The issuance of the Stock is not
subject to any pre-emptive rights or rights of first refusal.

2.5 Valid Issuance of Securities. The Stock that is being issued to the
Purchasers hereunder, when issued, sold and delivered in accordance with the
terms hereof for the consideration expressed herein, will be duly and validly
issued, fully paid and nonassessable and free of restrictions on transfer other
than restrictions on transfer under this Agreement, the Investors Rights
Agreement and applicable state and federal securities laws. Based in part upon
the representations of the Purchasers in this Agreement and subject to the
provisions of Section 2.6 below, the Stock will be issued in compliance with all
applicable federal and state securities laws, and neither the Company nor any
authorized agent acting on its behalf will take any action hereafter that would
cause the loss of such exemption. The Common Stock issuable upon conversion of
the Stock has been duly and validly reserved for issuance, and upon issuance in
accordance with the terms of the Restated Certificate, shall be duly and validly
issued, fully paid and nonassessable and free of restrictions on transfer other
than restrictions on transfer under this Agreement, the Investors Rights
Agreement and applicable federal and state securities laws and will be issued in
compliance with all applicable federal and state securities laws.

2.6 Governmental Consents. No consent, approval, order or authorization of, or
registration, qualification, designation, declaration or filing with, any
federal, state or local governmental authority on the part of the Company is
required in connection with the consummation of the transactions contemplated by
this Agreement, except for filings pursuant to Section 25102(f) of the
California Corporate Securities Law of 1968, as amended, and the rules
thereunder, other applicable state securities laws and Regulation D of the
Securities Act of 1933, as amended (the "Securities Act").

2.7 Litigation. There is no action, suit, proceeding or investigation pending
or, to the Company's knowledge, currently threatened against the Company that
questions the validity of the Agreements or the right of the Company to enter
into them, or to consummate the transactions contemplated hereby or thereby, or
that might result, either individually or in the aggregate, in any material
adverse changes in the assets, condition or affairs of the Company, financially
or otherwise, or any change in the current equity ownership of the Company, nor
is the Company aware that there is any basis for the foregoing. The foregoing
includes, without limitation, actions, suits, proceedings or investigations
pending or threatened involving the prior employment of any of the Company's
employees, their use in connection with the Company's business of any
information or techniques allegedly proprietary to any of their former
employers, or their obligations under any agreements with prior employers. The
Company is not a party or subject to the provisions of any order, writ,
injunction, judgment or decree of any court or government agency or
instrumentality. There is no action, suit, proceeding or investigation by the
Company currently pending or which the Company intends to initiate.

                                      -3-
<PAGE>   4

2.8 Patents and Trademarks. The Company owns or possesses sufficient legal
rights to all patents, trademarks, service marks, trade names, domain names,
copyrights, trade secrets, licenses, information and proprietary rights and
processes necessary for its business as now conducted and as proposed to be
conducted without any conflict with, or infringement of, the rights of others,
which conflict or infringement would have a material adverse effect on the
assets, condition or affairs of the Company, financially or otherwise. There are
no outstanding options, licenses or agreements of any kind relating to the
foregoing, nor is the Company bound by or a party to any options, licenses or
agreements of any kind with respect to the patents, trademarks, service marks,
trade names, copyrights, trade secrets, licenses, information, proprietary
rights and processes of any other person or entity. The Company has not received
any communications alleging that the Company has violated or, by conducting its
business as proposed, would violate any of the patents, trademarks, service
marks, trade names, copyrights, trade secrets or other proprietary rights or
processes of any other person or entity. The Company is not aware that any of
its employees is obligated under any contract (including licenses, covenants or
commitments of any nature) or other agreement, or subject to any judgment,
decree or order of any court or administrative agency, that would interfere with
the use of such employee's best efforts to promote the interest of the Company
or that would conflict with the Company's business as proposed to be conducted.
Neither the execution or delivery of this Agreement, nor the carrying on of the
Company's business by the employees of the Company, nor the conduct of the
Company's business as proposed, will, to the Company's knowledge, conflict with
or result in a breach of the terms, conditions, or provisions of, or constitute
a default under, any contract, covenant or instrument under which any such
employee is now obligated. The Company does not believe it is or will be
necessary to use any inventions of any of its employees (or persons it currently
intends to hire) made prior to their employment by the Company.

2.9 Compliance with Other Instruments.

        (a) The Company is not in violation or default of any provisions of its
Restated Certificate or Bylaws or of any instrument, judgment, order, writ,
decree or contract to which it is a party or by which it is bound, or of any
provision of federal or state statute, rule or regulation applicable to the
Company which would have a material adverse effect on the assets, condition or
affairs of the Company, financially or otherwise. The execution, delivery and
performance of the Agreements and the consummation of the transactions
contemplated hereby or thereby will not result in any such violation or be in
conflict with or constitute, with or without the passage of time and giving of
notice, either a default under any such provision, instrument, judgment, order,
writ, decree or contract or an event which results in the creation of any lien,
charge or encumbrance upon any assets of the Company or the suspension,
revocation, impairment, forfeiture or nonrenewal of any material permit,
license, authorization or approval applicable to the Company, its business or
operations or of its assets or properties.

        (b) The Company has avoided every condition, and has not performed any
act, the occurrence of which would result in the Company's loss of any right
granted under any

                                      -4-
<PAGE>   5

license, distribution agreement or other agreement which would have a material
adverse effect on the assets, condition or affairs of the Company, financially
or otherwise.

2.10    Agreements; Action.

        (a) Except for the Agreements, there are no agreements, understandings
or proposed transactions between the Company and any of its officers, directors,
affiliates, or any affiliate thereof.

        (b) Except for agreements explicitly contemplated by the Agreements,
there are no agreements, understandings, instruments, contracts or proposed
transactions to which the Company is a party or by which it is bound that
involve (i) obligations (contingent or otherwise) of, or payments to, the
Company in excess of, $10,000, (ii) the license of any patent, copyright, trade
secret or other proprietary right to or from the Company, or (iii) the grant of
rights to manufacture, produce, assemble, license, market, or sell its products
to any other person or affect the Company's exclusive fight to develop,
manufacture, assemble, distribute, market or sell its products.

        (c) The Company has not (i) declared or paid any dividends, or
authorized or made any distribution upon or with respect to any class or series
of its capital stock, (ii) incurred any indebtedness for money borrowed or
incurred any other liabilities individually in excess of $10,000 or in excess of
$25,000 in the aggregate, (iii) made any loans or advances to any person, or
(iv) sold, exchanged or otherwise disposed of any of its assets or rights, other
than the sale of its inventory in the ordinary course of business.

        (d) For the purposes of subsections (b) and (c) above, all indebtedness,
liabilities, agreements, understandings, instruments, contracts and proposed
transactions involving the same person or entity (including persons or entities
the Company has reason to believe are affiliated therewith) shall be aggregated
for the purpose of meeting the individual minimum dollar amounts of such
subsections.

        (e) The Company is not a party to and is not bound by any contract
agreement or instrument, or subject to any restriction under its Restated
Certificate or Bylaws, that materially and adversely affects its business as now
conducted or as proposed to be conducted, its properties or its financial
condition.

2.11 Disclosure. The Company has provided the Purchasers with all the
information which the Purchasers have requested for deciding whether to acquire
the Stock and all information which the Company believes is reasonably necessary
to enable the Purchasers to make such a decision, including certain of the
Company's projections describing its proposed business (collectively, the
"Business Plan"). The representations and warranties of the Company contained in
this Agreement and the exhibits attached hereto and in any certificate furnished
or to be furnished to Purchasers at the Closing do not contain any untrue
statement of a material fact or omit to state a material fact necessary in order
to make the statements

                                      -5-
<PAGE>   6

contained herein or therein not misleading in light of the circumstances under
which they were made. To the extent the Business Plan was prepared by management
of the Company, the Business Plan and the financial and other projections
contained in the Business Plan were prepared in good faith and the Company
reasonably believes there is a reasonable basis for such projections.

2.12 No Conflict of Interest. The Company is not indebted, directly or
indirectly, to any of its officers or directors or to their respective spouses
or children, in any amount whatsoever other than in connection with expenses or
advances of expenses incurred in the ordinary course of business. None of the
Company's officers; or directors, or any members of their immediate families,
are, directly or indirectly, indebted to the Company or have any direct or
indirect ownership interest in any firm or corporation with which the Company is
affiliated or with which the Company has a business relationship, or any firm or
corporation which competes with the Company, except that officers, directors
and/or stockholders of the Company may own stock in (but not exceeding two
percent of the outstanding capital stock of) any publicly traded companies that
may compete with the Company. To the Company's knowledge, none of the Company's
officers or directors or any members of their immediate families are, directly
or indirectly, interested in any material contract with the Company. The Company
is not a guarantor or indemnitor of any indebtedness of any other person, firm
or corporation.

2.13 Rights of Registration and Voting. Except as contemplated in the Investors
Rights Agreement, the Company has not granted or agreed to grant any
registration rights, including piggyback rights, to any person or entity. Except
as contemplated in the Voting Agreement, no stockholders of the Company have
entered into any agreements with respect to the voting of capital shares of the
Company.

2.14 Title to Program and Assets. The Company owns its property and assets free
and clear of all mortgages, liens, loans and encumbrances, except such
encumbrances and liens which arise in the ordinary course of business and do not
materially impair the Company's ownership or use of such property or assets.
With respect to the property and assets it leases, the Company is in compliance
with such leases and, to its knowledge, holds a valid leasehold interest free of
any liens, claims or encumbrances.

2.15 Manufacturing and Marketing Rights. The Company has not granted rights to
manufacture, produce, assemble, license, market, or sell its products to any
other person and is not bound by any agreement that affects the Company's
exclusive right to develop, manufacture, assemble, distribute, market or sell
its products.

2.16 No Financial Statements. The Company has not prepared any historical
balance sheet, income statement, statement of cash flows or stockholders' equity
or other financial statement. The Company has no material liability or
obligation, absolute or contingent (individually or in the aggregate), except
(a) obligations and liabilities incurred after the date of incorporation in the
ordinary course of business that are not material, individually or in the

                                      -6-
<PAGE>   7

aggregate, and (b) obligations under contracts made in the ordinary course of
business that would not be required to be reflected in financial statements
prepared in accordance with generally accepted accounting principles.

2.17 Employee Benefit Plans. The Company does not have any Employee Benefit Plan
as defined in the Employee Retirement Income Security Act of 1974.

2.18 Tax Returns and Payments. The Company has filed all tax returns and reports
as required by law. These returns and reports are true and correct in all
material respects. The Company has paid all taxes and other assessments due.

2.19 Labor Agreements and Actions. The Company is not bound by or subject to
(and none of its assets or properties is bound by or subject to) any written or
oral, express or implied, contract, commitment or arrangement with any labor
union, and no labor union has requested or, to the knowledge of the Company, has
sought to represent any of the employees, representatives or agents of the
Company. There is no strike or other labor dispute involving the Company
pending, or to the knowledge of the Company threatened, which would have a
material adverse effect on the assets, properties, financial condition,
operating results, or business of the Company (as such business is presently
conducted and as it is proposed to be conducted), nor is the Company aware of
any labor organization activity involving its employees. The employment of each
officer and employee of the Company is terminable at the will of the Company. To
its knowledge, the Company has complied in all material respects with all
applicable state and federal equal employment opportunity laws and with other
laws related to employment.

2.20 Proprietary Information and Inventions Agreements. Each employee,
consultant and officer of the Company has executed an agreement with the Company
regarding confidentiality and proprietary information substantially in the form
or forms delivered to the counsel for the Purchasers. The Company, after
reasonable investigation, is not aware that any of its employees or consultants
is in violation thereof, and the Company will use its best efforts to prevent
any such violation. All consultants to or vendors of the Company with access to
confidential information of the Company are parties to a written agreement
substantially in the form or forms provided to counsel for the Purchasers under
which, among other things, each such consultant or vendor is obligated to
maintain the confidentiality of confidential information of the Company. The
Company, after reasonable investigation, is not aware that any of its
consultants or vendors are in violation thereof, and the Company will use its
best efforts to prevent any such violation.

2.21 Permits. The Company has all franchises, permits, licenses and any similar
authority necessary for the conduct of its business as now being conducted by
it, the lack of which would materially and adversely affect the business,
properties, prospects, or financial condition of the Company, and believes that
it can obtain, without undue burden or expense, any similar authority for the
conduct of its business as planned to be conducted. The

                                      -7-
<PAGE>   8

Company is not in default in any material respect under any of such franchises,
permits, licenses or other similar authority.

2.22 Corporate Documents. The Restated Certificate and Bylaws of the Company are
in the form provided to counsel for the Purchasers. The copy of the minute books
of the Company provided to the Purchasers' counsel contains minutes of all
meetings of directors and stockholders and all actions by written consent
without a meeting by the directors and stockholders since the date of
incorporation and reflects all actions by the directors (and any committee of
directors) and stockholders with respect to all transactions referred to in such
minutes accurately in all material respects.

2.23 Real Property Holding Corporation. The Company is not a United States real
property holding corporation within the meaning of Internal Revenue Code Section
897(c)(2) and any regulations promulgated thereunder.

2.24 Qualified Small Business Stock. The Company represents and warrants to the
Purchasers that, to the Company's knowledge, the Stock should qualify as
"Qualified Small Business Stock" as defined in Section 1202(c) of the Internal
Revenue Code of 1986, as amended as of the date hereof.

3. Representations and Warranties of the Purchasers. Each Purchaser hereby
represents and warrants to the Company that:

3.1 Authorization. The Agreements, when executed and delivered by the Purchaser,
will constitute valid and legally binding obligations of the Purchaser,
enforceable in accordance with their terms, except (a) as limited by applicable
bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, and
any other laws of general application affecting enforcement of creditors' rights
generally, and as limited by laws relating to the availability of a specific
performance, injunctive relief, or other equitable remedies, or (b) to the
extent the indemnification provisions contained in the Investors Rights
Agreement may be limited by applicable federal or state securities laws.

3.2 Purchase Entirely for Own Account. This Agreement is made with the Purchaser
in reliance upon the Purchaser's representation to the Company, which by the
Purchaser's execution of this Agreement, the Purchaser hereby confirms, that the
Securities to be acquired by the Purchaser will be acquired for investment for
the Purchaser's own account, not as a nominee or agent, and not with a view to
the resale or distribution of any part thereof, and that the Purchaser has no
present intention of selling, granting any participation in, or otherwise
distributing the same. By executing this Agreement, the Purchaser further
represents that the Purchaser does not presently have any contract, undertaking,
agreement or arrangement with any person to sell, transfer or grant
participation to such person or to any third person, with respect to any of the
Securities. The Purchaser represents that it has full power and authority to
enter into this Agreement. The Purchaser has not been formed for the specific
purpose of acquiring the Securities.

                                      -8-
<PAGE>   9

3.3 Disclosure of Information. The Purchaser has had an opportunity to discuss
the Company's business, management, financial affairs and the terms and
conditions of the offering of the Stock with the Company's management and has
had an opportunity to review the Company's facilities. The Purchaser understands
that such discussions, as well as the written information issued by the Company,
were intended to describe the aspects of the Company's business which it
believes to be material. The foregoing, however, does not limit or modify the
representations and warranties of the Company in Section 2 of this Agreement or
the right of the Purchaser to rely thereon.

3.4 Restricted Securities. The Purchaser understands that the Securities have
not been, and will not be, registered, under the Securities Act, by reason of a
specific exemption from the registration provisions of the Securities Act which
depends upon, among other things, the bona fide nature of the investment intent
and the accuracy of the Purchaser's representations as expressed herein. The
Purchaser understands that the Securities are "restricted securities" under
applicable U.S. federal and state securities laws and that, pursuant to these
laws, the Purchaser must hold the Securities indefinitely unless they are
registered with the Securities and Exchange Commission and qualified by state
authorities, or an exemption from such registration and qualification
requirements is available. The Purchaser acknowledges that the Company has no
obligation to register or qualify the Securities for resale, except as set forth
in the Investors Rights Agreement. The Purchaser further acknowledges that if an
exemption from registration or qualification is available, it may be conditioned
on various requirements including, but not limited to, the time and manner of
sale, the holding period for the Securities, and on requirements relating to the
Company which are outside of the Purchaser's control, and which the Company is
under, no obligation and may not be able to satisfy.

3.5 No Public Market. The Purchaser understands that no public market now exists
for any of the securities issued by the Company, and that the Company has made
no assurances that a public market will ever exist for the Securities.

3.6 Legends. The Purchaser understands that the Securities and any securities
issued in respect of or exchange for the Securities, may bear one or all of the
following legends:

(a)   "THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER
      THE SECURITIES ACT OF 1933, AND HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT
      WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF.
      NO SUCH SALE OR DISPOSITION MAY BE EFFECTED WITHOUT AN EFFECTIVE
      REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL IN A FORM
      SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER
      THE SECURITIES ACT OF 1933.

(b)   Any legend required by the Blue Sky laws of any state to the extent such
      laws are applicable to the shares represented by the certificate so
      legended.

                                      -9-
<PAGE>   10

3.7 Accredited Investor. The Purchaser is an "accredited investor" as defined in
Rule 501 (a) of Regulation D promulgated under the Securities Act.

3.8 Foreign Investors. If the Purchaser is not a United States person (as
defined by Section 7701(a)(30) of the Internal Revenue Code of 1986, as
amended), such Purchaser hereby represents that it has satisfied itself as to
the full observance of the laws of its jurisdiction in connection with any
invitation to subscribe: for the Stock or any use of this Agreement, including
(a) the legal requirements within its jurisdiction for the purchase of the
Stock, (b) any foreign exchange restrictions applicable to such purchase, (c)
any governmental or other consents that may need to be obtained, and (d) the
income tax and other tax consequences, if any, that may be relevant to the
purchase, holding, redemption, sale, or transfer of the Stock. Such Purchaser's
subscription and payment for and continued beneficial ownership of the Stock,
will not violate any applicable securities or other laws of the Purchaser's
jurisdiction.

4. Conditions of the Purchasers' oblations at Closing. The obligations of each
Purchaser to the Company under this Agreement are subject to the fulfillment, on
or before the Closing, of each of the following conditions, unless otherwise
waived:

4.1 Representations and Warranties. The representations and warranties of the
Company contained in Section 2 shall be true and correct in all material
respects on and as of the Closing with the same effect as though such
representations and warranties had been made on and as of the date of the
Closing.

4.2 Performance. The Company shall have performed and complied with all
covenants, agreements, obligations and conditions contained in this Agreement
that are required to be performed or complied with by it on or before the
Closing.

4.3 Compliance Certificate. The President of the Company shall deliver to the
Purchasers at the Closing a certificate certifying that the conditions specified
in Sections 4.1 and 4.2 have been fulfilled.

4.4 Qualifications. All authorizations, approvals or permits, if any, of any
governmental authority or regulatory body of the United States or of any state
that are required in connection with the lawful issuance and sale of the Stock
pursuant to this Agreement shall be obtained and effective as of the Closing.

4.5 Opinion of Company Counsel. The Purchasers shall have received from Venture
Law Group, counsel for the Company, an opinion, dated as of the Closing, in
substantially the form of Exhibit G.

4.6 Board of Directors. The Bylaws of the Company shall provide that the Board
of Directors of the Company shall consist of five (5) persons. As of the
Closing, the Board shall be comprised of Eric Archambeau, Scott Hassan, Carl
Page, and Martin Roscheisen, with one

                                      -10-
<PAGE>   11

vacancy to be filled by an independent industry executive approved by the
Purchasers and a majority of Scott Hassan, Carl Page and Martin Roscheisen
(collectively, the "Founders").

4.7. Proceedings and Documents. All corporate and other proceedings in
connection with the transactions, contemplated at the Closing and all documents
incident thereto shall be reasonably satisfactory in form and substance to
Purchasers' counsel, and they shall have received all such counterpart original
and certified or other copies of such documents as they may reasonably request.
This may include, without limitation, good standing certificates and
certification by the Company's Secretary regarding the Restated Certificate and
Bylaws and Board of Director and stockholder resolutions approving the
transactions contemplated by this Agreement.

4.8 Proprietary Information and Employee Stock Purchase Agreements. Each
employee of and consultant to the Company shall have entered into a Proprietary
Information and Inventions Agreement in the form previously provided to counsel
for the Purchasers. Each holder of Common Stock of the Company shall have
entered into a Common Stock Purchase Agreement in the form previously provided
to counsel for the Purchasers.

4.9 Investors Rights Agreement. The Company, each Purchaser and the Founders
shall have executed and delivered the Investors Rights Agreement.

4.10 Co-Sale Agreement. The Company, each Purchaser and the Founders shall have
executed and delivered the Co-Sale Agreement.

4.11 Voting Agreement. The Company, each Purchaser and the Founders shall have
executed and delivered the Voting Agreement.

4.12 Restated Certificate. The Company shall have filed the Restated Certificate
with the Secretary of State of Delaware on or prior to the Closing Date, which
shall continue to be in full force and effect as of the Closing Date.

5. Conditions of the Company's Obligations at Closing. The obligations of the
Company to each Purchaser under this Agreement are subject to the fulfillment,
on or before the Closing, of each of the following conditions, unless otherwise
waived.

5.1 Representations and Warranties. The representations and warranties of each
Purchaser contained in Section 3 shall be true and correct in all material
respects on and as of the Closing with the same effect as though such
representations and warranties had been made on and as of the Closing.

5.2 Performance. All covenants, agreements and conditions contained in this
Agreement to be performed by the Purchasers on or prior to the Closing shall
have been performed or compiled with in all material respects.

                                      -11-
<PAGE>   12

5.3 Qualifications. All authorizations, approvals or permits, if any, of any
governmental authority or regulatory body of the United States or of any state
that are required in connection with the lawful issuance and sale of the Stock
pursuant to this Agreement shall be obtained and effective as of the Closing.

5.4 Investors Rights Agreement. Each Purchaser shall have executed the Investors
Rights Agreement.

5.5 Co-Sale Agreement. Each Purchaser shall have executed the Co-Sale Agreement.

5.6 Voting Agreement. Each Purchaser shall have executed the Voting Agreement.

6. Miscellaneous.

6.1 Survival of Warranties. The warranties, representations and covenants of the
Company and Purchasers contained in or made pursuant to this Agreement shall
survive the execution and delivery of this Agreement for a period of one (1)
year, and the Closing and shall in no way be affected by any investigation of
the subject matter thereof made by or on behalf of the Purchasers or the
Company.

6.2 Transfer; Successors and Assigns. The terms and conditions of this Agreement
shall inure to the benefit of and be binding upon the respective successors and
assigns of the parties. Nothing in this Agreement, express or implied, is
intended to confer upon any party other than the parties hereto or their
respective successors and assigns any rights, remedies, obligations, or
liabilities under or by reason of this Agreement, except as expressly provided
in this Agreement.

6.3 Governing Law. This Agreement and all acts and transactions pursuant hereto
and the rights and obligations of the parties hereto shall be governed,
construed and interpreted in accordance with the laws of the State of
California, without giving effect to principles of conflicts of law.

6.4 Counterparts. This Agreement may be executed in two or more counterparts,
each of which shall be deemed an original and all of which together shall
constitute one instrument.

6.5 Titles and Subtitles. The titles and subtitles used in this Agreement are
used for convenience only and are not to be considered in construing or
interpreting this Agreement.

6.6 Notices. Any notice required or permitted by this Agreement shall be in
writing and shall be deemed sufficient upon delivery, when delivered personally
or by overnight courier or sent by telegram, confirmed fax or email, or
forty-eight (48) hours after being deposited in the U.S. mail; as certified or
registered mail, with postage prepaid, addressed to the party to be notified at
such party's address as set forth below or on Exhibit A hereto, or as
subsequently modified by written notice, and (a) if to the Company, with a copy
to Venture

                                      -12-
<PAGE>   13

Law Group, 2800 Sand Hill Road, Menlo Park, CA 94025, fax (650) 233-8386, Attn:
Robert V. W. Zipp or (b) if to the Purchasers, with a copy to Wilson, Sonsini,
Goodrich & Rosati, 650 Page Mill Road, Palo Alto, CA 94304, fax (650) 493-6811,
Attn: Anton Commissaris.

6.7 Finder's Fee. Each party represents that it neither is nor will be obligated
for any finder's fee or commission in connection with this transaction. Each
Purchaser agrees to indemnify and to hold harmless the Company from any
liability for any commission or compensation in the nature of a finder's fee
(and the costs and expenses of defending against such liability or asserted
liability) for which each Purchaser or any of its officers, employees, or
representatives is responsible. The Company agrees to indemnify and hold
harmless each Purchaser from any liability for any commission or compensation in
the nature of a finder's fee (and the costs and expenses of defending against
such liability or asserted liability) for which the Company or any of its
officers, employees or representatives is responsible.

6.8 Fees and Expenses. The Company shall pay the reasonable fees and expenses of
counsel for the Purchasers, incurred with respect to this Agreement, the
documents referred to herein and the transactions contemplated hereby and
thereby (such fees and expenses not to exceed $10,000.00).

6.9 Attorney's Fees. If any action at law or in equity (including arbitration)
is necessary to enforce or interpret the terms of any of the Agreements, the
prevailing party shall be entitled to reasonable attorney's fees, costs and
necessary disbursements in addition to any other relief to which such party may
be entitled.

6.10 Amendments and Waivers. Any term of this Agreement may be amended with the
written consent of the Company and the holders of at least a majority of the
Common Stock issued or issuable upon conversion of the Stock. Any amendment or
waiver effected in accordance with this Section 6.10 shall be binding upon the
Purchasers and each transferee of the Stock (or the Common Stock issuable upon
conversion thereof), each future holder of all such securities, and the Company.

6.11 Severability. If one or more provisions of this Agreement are held to be
unenforceable under applicable law, the parties agree to renegotiate such
provision in good faith. In the event that the parties cannot reach a mutually
agreeable and enforceable replacement for such provision, then (a) such
provision shall be excluded from this Agreement, (b) the balance of the
Agreement shall be interpreted as if such provision were so excluded and (c) the
balance of the Agreement shall be enforceable in accordance with its terms.

6.12 Delays or Omissions. No delay or omission to exercise any right, power or
remedy accruing to any holder of any of the Stock, upon any breach or default of
the Company under this Agreement, shall impair any such right, power or remedy
of such holder nor shall it be construed to be a waiver of any such breach or
default, or an acquiescence therein, or of or in any similar breach or default
thereafter occurring; nor shall any waiver of any single breach or default be
deemed a waiver of any other breach or default theretofore or thereafter

                                      -13-
<PAGE>   14

occurring. Any waiver, permit, consent or approval of any kind or character on
the part of any holder of any breach or default under this Agreement, or any
waiver on the part of any holder of any provisions or conditions of this
Agreement, must be in writing and shall be effective only to the extent
specifically set forth in such writing. All remedies, either under this
Agreement or by law or otherwise afforded to any holder, shall be cumulative and
not alternative.

6.13 Entire Agreement. This Agreement, and the documents referred to herein
constitute the entire agreement between the parties hereto pertaining to the
subject matter hereof, and any and all other written or oral agreements existing
between the parties hereto are expressly canceled.

6.14 Cooperate Securities Law. THE SALE OF THE SECURITIES WHICH ARE THE SUBJECT
OF THIS AGREEMENT HAS NOT BEEN QUALIFIED WITH THE COMMISSIONER OF CORPORATIONS
OF THE STATE OF CALIFORNIA AND THE ISSUANCE OF THE SECURITIES OR THE PAYMENT OR
RECEIPT OF ANY PART OF THE CONSIDERATION THEREFOR PRIOR TO THE QUALIFICATION IS
UNLAWFUL, UNLESS THE SALE OF SECURITIES IS EXEMPT FROM THE QUALIFICATION BY
SECTION 25100, 25102 OR 25105 OF THE CALIFORNIA CORPORATIONS CODE. THE RIGHT'S
OF ALL PARTIES TO THIS AGREEMENT ARE EXPRESSLY CONDITIONED UPON THE
QUALIFICATION BEING OBTAINED UNLESS THE SALE IS SO EXEMPT.

6.15 Confidentiality. Each party hereto agrees that, except with the prior
written permission of the other party, it shall at all times keep confidential
and not divulge, furnish or make accessible to anyone any confidential
information, knowledge or data concerning or relating to the business or
financial affairs of the other parties to which such party has been or shall
become privy by reason of this Agreement, discussions or negotiations relating
to this Agreement, the performance of its obligations hereunder or the ownership
of Stock purchased hereunder. The provisions of this Section 6.15 shall be in
addition to, and not in substitution for, the provisions of any separate
nondisclosure agreement executed by the parties hereto with respect to the
transactions contemplated hereby.

6.16 Exculpation Among Purchasers. Each Purchaser acknowledges that it is not
relying upon any person, firm or corporation, other than the Company and its
officers and directors, in making its investment or decision to invest in the
Company. Each Purchaser agrees that no Purchaser nor the respective controlling
persons, officers, directors, partners, agents, or employees of any Purchaser
shall be liable for any action heretofore or hereafter taken or omitted to be
taken by any of them in connection with the Securities.

[Signature Pages Follow]

                                      -14-
<PAGE>   15

The parties have executed this Series A Preferred Stock Purchase Agreement as of
the date first written above.

COMPANY:
                                        FINDMAIL COMMUNICATIONS, INC.

                                        By:
                                            ------------------------------------

                                        Name:
                                              ----------------------------------
                                                          (print)
                                        Title:
                                               ---------------------------------

                                        Address: 961 Duncan Street
                                                 San Francisco, CA 94131

                                        PURCHASERS:

                                        ATLAS VENTURE FUND III, L.P.
                                        By: Atlas Venture Associates III, LLC
                                        Its: General Partner

                                        By:
                                            ------------------------------------
                                                 Member Manager

                                        Name:
                                              ----------------------------------
                                                          (print)

                                        Address: 222 Berkeley Street
                                                 Boston, MA 02116

                                        ATLAS VENTURE ENTREPRENEURS' FUND
                                        III, L.P.
                                        By: Atlas Venture Associates III, LLC
                                        Its: General Partner

                                        By:
                                            ------------------------------------
                                                 Member Manager

                                        Name:
                                              ----------------------------------
                                                          (print)

                                        Address: 222 Berkeley Street
                                                 Boston, MA 02116

                                      -15-
<PAGE>   16

The parties have executed this Series A Preferred Stock Purchase Agreement as of
the date first written above.

                                        FINDMAIL COMMUNICATIONS, INC.

                                        By:
                                            ------------------------------------

                                        Name:
                                              ----------------------------------
                                                          (print)
                                        Title:
                                               ---------------------------------

                                        Address: 961 Duncan Street
                                                 San Francisco, CA 94131

                                        PURCHASERS:

                                        ATLAS VENTURE FUND III, L.P.
                                        By: Atlas Venture Associates III, LLC
                                        Its: General Partner

                                        By:
                                            ------------------------------------
                                                 Member Manager

                                        Name:
                                              ----------------------------------
                                                          (print)

                                        Address: 222 Berkeley Street
                                                 Boston, MA 02116

                                        ATLAS VENTURE ENTREPRENEURS' FUND
                                        III, L.P.
                                        By: Atlas Venture Associates III, LLC
                                        Its: General Partner

                                        By:
                                            ------------------------------------
                                                 Member Manager

                                        Name:
                                              ----------------------------------
                                                          (print)

                                        Address: 222 Berkeley Street
                                                 Boston, MA 02116

                                      -16-

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