iNET Interactive Acquired By Private Equity Group

[relledge]

Community Members:

It is with great pleasure that I announce to you that effective November 1, 2005, iNET Interactive was acquired by Stoddard Hill Capital, and Troy Augustine has succeeded me as the President and Chief Executive Office of iNET Interactive. More details surrounding this transaction can be found in the press release which can be found at http://www.hostingtech.com/?m=show&id=980.

We are excited about Troy’s desire to continue operating iNET in the fashion we have and know he will bring the energy and capital necessary to continue growing iNET Interactive in the years to come.

With this announcement the immediate questions that will undoubtedly be asked revolve around how this will impact this site, the community, and the advertisers. First, Troy and I want to assure you that he does not plan any immediate changes, and changes that do occur in the future will be discussed with community leaders and members in advance. Troy has agreed that he will continue with iNET’s stance on separating advertising from editorial, meaning that the admins and moderators will continue operating as they have in the past. He has also indicated he will continue iNET’s practice of not allowing intrusive pop-up and pop-under advertisements.

You should know that iNET plans to upgrade all of it’s vBulletin sites to the new 3.5 version in the near future. SwishTalk.com and WebHostingTalk.com have already been upgraded. The others will be done in the coming months.

Also, we want to state that the current iNET team continues to operate the company, under the new direction of Troy. While some members of the iNET team will eventually move on to work with other Aberration! Venture investments, some will continue with iNET for the long haul. Gabriel Murphy, iNET’s founder, and myself have committed to a long term consulting and advisory role with Troy.

We anticipate there will be numerous questions with this announcement. As such, Troy and I will make ourselves available for an IRC chat today, Friday November 11, from 4:00 pm Eastern until 5:00 pm Eastern. You can join us at http://www.inetirc.com in the #INET channel during that time.

[Murlyn]

Excellent! We get raises!

[trpnmonkey41]

vBulletin 3.5 yummy

[Graphite]

Finally my pocket book will get fatter.

[schweb]

Yes, your salary will be doubled!

[muso]

Aww here I was hoping for a tripled salary.

[marcel]

Congrats.

[DCraver]

you guys get paid for this?

[trpnmonkey41]

base salary 50k/yr

[djlee12]

Serious? How do I sign upo? Just kidding.