<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 26, 1997
EXCITE, INC.
- --------------------------------------------------------------------------------
(Exact name of Registrant as specified in its charter)
California
----------------------------------------------
(State or other jurisdiction of incorporation)
0-28064 77-0378215
- -------------- -------------------
(Commission (IRS Employer
File Number) Identification No.)
555 Broadway, Redwood City, CA 94063
- --------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
(415) 568-6000
- --------------------------------------------------------------------------------
(Registrant's telephone number, including area code)
- --------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
<PAGE> 2
ITEM 5: OTHER EVENTS.
On June 26, 1997, Excite, Inc. (the "Company") and Intuit Inc. ("Intuit")
completed the sale by the Company to Intuit of 2,900,000 shares of the
Company's Common Stock at a purchase price of $13.50 per share pursuant to a
Stock Purchase Agreement between the Company and Intuit dated June 11, 1997.
In connection with this sale the Company and Intuit entered into a
definitive agreement (the "Agreement") pursuant to which the Company and Intuit
will create a new online financial channel. This channel will offer content and
services designed to help consumers organize and manage their finances, and will
feature financial news, stock quotes and transactional services. It is
anticipated that this new channel will be introduced during the summer of 1997.
The channel will be distributed throughout the Excite Network, which includes
Excite, WebCrawler and Magellan, as well as through Intuit's Quicken Financial
Network.
Under the Agreement, Intuit will become the exclusive provider and
aggregator of financial content on all the Company's services, and the Company
will become the exclusive search and navigation service featured on the U.S.
versions of Intuit's Quicken, QuickBooks and TurboTax products. The Company and
Intuit expect that any revenue generated will be generated from a combination of
advertising and fees for enabling transactions for financial products and
services.
<PAGE> 3
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
Registrant has duly caused this report to be signed on its behalf by the
undersigned duly authorized.
EXCITE, INC.
Date: July 8, 1997 By: /s/ Robert C. Hood
------------------------------------------
Robert C. Hood
Executive Vice President, Chief Administrative Officer
and Chief Financial Officer
