Versioning strategy is widely applied in information product pricing，and is more preferable in the presence of network externality． The paper explores the versioning strategy based on the assumption of two dimensions of consumers’heterogeneity in valuation for the product and network effect． By comparing the three strategies of non-versioning，versioning strategy with and without free low-end version，the paper shows that versioning is superior to one-version strategy，and that versioning without free low-end version is more profitable than the counterpart with free version． In the context of versioning strategy，the profit increases with the quality difference． The paper shows that the versioning strategy with no free low-end version is more profitable than the strategy with free version in the presence of positive and negative network externality，whereas the non-versioning strategy is optimal if the negative network effect dominates the market．