UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)
GT Interactive Software Corp.
-----------------------------
(Name of Issuer)
Common Stock, par value $.01 per share
--------------------------------------
(Title of Class of Securities)
36236E109
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(CUSIP Number)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the reminder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
<PAGE>
Page 2 of 10 pages
CUSIP NO. 36236E109 13G
---------
- --------------------------------------------------------------------------------
0.0.1 Name of Reporting Person General Atlantic Partners, LLC
S.S. or I.R.S. Identifica-
tion No. of Above Person
- --------------------------------------------------------------------------------
0.0.2 Check the Appropriate Box (a) [X]
if a Member of a Group (b)
- --------------------------------------------------------------------------------
0.0.3 S.E.C. Use Only
- --------------------------------------------------------------------------------
0.0.4 Citizenship or Place of Organization Delaware
- --------------------------------------------------------------------------------
Number of Shares (5) Sole Voting Power 0
Beneficially (6) Shared Voting Power 7,428,525
Owned by Each (7) Sole Dispositive Power 0
Reporting Person (8) Shared Dispositive Power 7,428,525
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
7,428,525
- --------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares ______
- --------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row 9 11%
- --------------------------------------------------------------------------------
12. Type of Reporting Person 00
- --------------------------------------------------------------------------------
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Page 3 of 10 pages
CUSIP NO. 36236E109 13G
---------
- --------------------------------------------------------------------------------
0.0.1 Name of Reporting Person General Atlantic Partners II, L.P.
S.S. or I.R.S. Identifica-
tion No. of Above Person
- --------------------------------------------------------------------------------
0.0.2 Check the Appropriate Box (a) [X]
if a Member of a Group (b)
- --------------------------------------------------------------------------------
0.0.3 S.E.C. Use Only
- --------------------------------------------------------------------------------
0.0.4 Citizenship or Place of Organization Delaware
- --------------------------------------------------------------------------------
Number of Shares (5) Sole Voting Power 0
Beneficially (6) Shared Voting Power 7,428,525
Owned by Each (7) Sole Dispositive Power 0
Reporting Person (8) Shared Dispositive Power 7,428,525
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
7,428,525
- --------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares ______
- --------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row 9 11%
- --------------------------------------------------------------------------------
12. Type of Reporting Person PN
- --------------------------------------------------------------------------------
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Page 4 of 10 pages
CUSIP NO. 36236E109 13G
---------
- --------------------------------------------------------------------------------
0.0.1 Name of Reporting Person General Atlantic Partners 16, L.P.
S.S. or I.R.S. Identifica-
tion No. of Above Person
- --------------------------------------------------------------------------------
0.0.2 Check the Appropriate Box (a) [X]
if a Member of a Group (b)
- --------------------------------------------------------------------------------
0.0.3 S.E.C. Use Only
- --------------------------------------------------------------------------------
0.0.4 Citizenship or Place of Organization Delaware
- --------------------------------------------------------------------------------
Number of Shares (5) Sole Voting Power 0
Beneficially (6) Shared Voting Power 7,428,525
Owned by Each (7) Sole Dispositive Power 0
Reporting Person (8) Shared Dispositive Power 7,428,525
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
7,428,525
- --------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares ______
- --------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row 9 11%
- --------------------------------------------------------------------------------
12. Type of Reporting Person PN
- --------------------------------------------------------------------------------
<PAGE>
Page 5 of 10 pages
CUSIP NO. 36236E109 13G
---------
- --------------------------------------------------------------------------------
0.0.1 Name of Reporting Person General Atlantic Partners 19, L.P.
S.S. or I.R.S. Identifica-
tion No. of Above Person
- --------------------------------------------------------------------------------
0.0.2 Check the Appropriate Box (a) [X]
if a Member of a Group (b)
- --------------------------------------------------------------------------------
0.0.3 S.E.C. Use Only
- --------------------------------------------------------------------------------
0.0.4 Citizenship or Place of Organization Delaware
- --------------------------------------------------------------------------------
Number of Shares (5) Sole Voting Power 0
Beneficially (6) Shared Voting Power 7,428,525
Owned by Each (7) Sole Dispositive Power 0
Reporting Person (8) Shared Dispositive Power 7,428,525
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
7,428,525
- --------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares ______
- --------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row 9 11%
- --------------------------------------------------------------------------------
12. Type of Reporting Person PN
- --------------------------------------------------------------------------------
<PAGE>
Page 6 of 10 pages
CUSIP NO. 36236E109 13G
---------
- --------------------------------------------------------------------------------
0.0.1 Name of Reporting Person GAP Coinvestment Partners, L.P.
S.S. or I.R.S. Identifica-
tion No. of Above Person
- --------------------------------------------------------------------------------
0.0.2 Check the Appropriate Box (a) [X]
if a Member of a Group (b)
- --------------------------------------------------------------------------------
0.0.3 S.E.C. Use Only
- --------------------------------------------------------------------------------
0.0.4 Citizenship or Place of Organization New York
- --------------------------------------------------------------------------------
Number of Shares (5) Sole Voting Power 0
Beneficially (6) Shared Voting Power 7,428,525
Owned by Each (7) Sole Dispositive Power 0
Reporting Person (8) Shared Dispositive Power 7,428,525
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
7,428,525
- --------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares N/A
- --------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row 9 11%
- --------------------------------------------------------------------------------
12. Type of Reporting Person PN
- --------------------------------------------------------------------------------
<PAGE>
Page 7 of 10 pages
CUSIP NO. 36236E109 13G
---------
Item 1 (a) Name of Issuer
GT Interactive Software Corp.
(b) Address of Issuer's Principal Executive Offices
16 East 40th Street
New York, N.Y. 10016
Item 2 (a) Names of Persons Filing
General Atlantic Partners, LLC ("LLC")
General Atlantic Partners II, L.P. ("GAP II")
General Atlantic Partners 16, L.P. ("GAP 16")
General Atlantic Partners 19, L.P. ("GAP 19")
GAP Coinvestment Partners, L.P. ("GAPCO" and,
collectively with LLC, GAP II, GAP 16 and GAP 19, the
"Reporting Persons")
(b) Address of Principal Business Office
c/o General Atlantic Service Corporation
3 Pickwick Plaza
Greenwich, CT 06830
(c) Citizenship
LLC, GAP II, GAP 16 and GAP 19 -- Delaware
GAPCO -- New York
(d) Title of Class of Securities
Common Stock, par value $.01 per share (the "Shares")
(e) CUSIP Number
36236E109
Item 3 This statement is not filed pursuant to either Rule 13d-1(b) or
13d-2(b).
Item 4 As of December 31, 1997, LLC, GAP II, GAP 16, GAP 19 and GAPCO
each owned of record no Shares, 504,000 Shares,
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Page 8 of 10 pages
CUSIP NO. 36236E109 13G
---------
4,184,545 Shares, 2,092,273 Shares and 647,707 Shares,
respectively, or 0%, 0.7%, 6.2%, 3.1% and 1.0%, respectively, of
the issued and outstanding Shares. The general partner of GAP II,
GAP 16 and GAP 19 is LLC. The managing members of LLC are Steven
A. Denning, David C. Hodgson, Stephen P. Reynolds, J. Michael
Cline, William O. Grabe and William E. Ford (collectively, the
"LLC Managing Members"). The LLC Managing Members are the general
partners of GAPCO. By virtue of the fact that the LLC Managing
Members are also the general partners authorized and empowered to
vote and dispose of the securities held by GAPCO, the Reporting
Persons may be deemed to share voting power and the power to
direct the disposition of the Shares which each of them owns of
record. Accordingly, as of December 31, 1997, each of the
Reporting Persons may be deemed to own beneficially an aggregate
of 7,428,525 Shares or 11% of the issued and outstanding Shares.
Each of the Reporting Persons has the shared power to direct the
vote and the shared power to direct the disposition of the
7,428,525 Shares that may be deemed to be owned beneficially by
each of them.
Item 5 Ownership of Five Percent or Less of a Class
Not applicable.
Item 6 Ownership of More than Five Percent on Behalf of Another
Person
See Item 4.
Item 7 Identification and Classification of Subsidiary Which Acquired
the Security Being Reported on By the Parent Holding Company
Not applicable.
Item 8 Identification and Classification of Members of the Group
See Item 4.
Item 9 Notice of Dissolution of Group
Not applicable.
<PAGE>
Page 9 of 10 pages
CUSIP NO. 36236E109 13G
---------
Item 10 Certification
Not applicable.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
<PAGE>
Page 10 of 10 pages
CUSIP NO. 36236E109 13G
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SIGNATURES
After reasonable inquiry and to the best of my knowledge and
belief, we certify that the information set forth in this statement is true,
complete and correct.
Dated: February 5, 1998.
GENERAL ATLANTIC PARTNERS, LLC
By: /s/ Nancy E. Cooper
--------------------------------------------------
Nancy E. Cooper,
a Managing Member
GENERAL ATLANTIC PARTNERS II, L.P.
By: GENERAL ATLANTIC PARTNERS, LLC
its General Partner
By: /s/ Nancy E. Cooper
--------------------------------------------------
Nancy E. Cooper,
a Managing Member
GENERAL ATLANTIC PARTNERS 16, L.P.
By: GENERAL ATLANTIC PARTNERS, LLC
its General Partner
By: /s/ Nancy E. Cooper
--------------------------------------------------
Nancy E. Cooper,
a Managing Member
GENERAL ATLANTIC PARTNERS 19, L.P.
By: GENERAL ATLANTIC PARTNERS, LLC
its General Partner
By: /s/ Nancy E. Cooper
--------------------------------------------------
Nancy E. Cooper,
a Managing Member
GAP COINVESTMENT PARTNERS, L.P.
By: /s/ Nancy E. Cooper
--------------------------------------------------
Nancy E. Cooper,
General Partner
