Partnership With 7th-Largest Internet Site Could Generate up to $2.1 Million in Revenue for NeoMedia Technologies
Fort Myers, Florida - June 20, 2001 - About, Inc. and NeoMedia Technologies, Inc. (NASDAQ: NEOM) today announced that they have entered into a one-year license agreement to provide NeoMedia`s Qode Commerce Solution™ to the Internet site`s estimated 36 million worldwide users. Under the terms of the agreement, search boxes on the About network, including About`s six international sites, will be modified to include a "Search Products" drop-down option. Product searches will be processed by the Qode commerce system and displayed on a co-branded page. Additionally, users performing searches on any topic will be presented with an opportunity to comparison shop based on the keyword they had entered. The new service is expected to launch by July 1, 2001.
3.4 Billion Product Search Opportunities
"About projects that users will be presented with over 3.4 billion opportunities to search for topic and product information," said Mark Josephson, General Manager of About.com. "By combining both keyword and UPC-based search capabilities, the Qode solution delivers the best shopping experience today, while providing a platform for the consumer-based scanning transactions of tomorrow."
"NeoMedia is excited to be powering the online shopping service for the industry leader," said Rick Szatkowski, executive vice president and general manager of the Qode Commerce Solution. "About`s users are online consumers who use the Internet to make informed decisions about the products they purchase. The Qode system provides comprehensive information that allows them to learn information about a product, shop for the best available price on the Qode system, and receive promotions to entice the final sale."
Partnership Could Generate up to $2.1 Million
We forecast that this partnership could generate up to $2.1 million in net revenues for our company over the course of this agreement," said Rudolf Mosny, NeoMedia`s COO. "Our projection is based on the same sales-per-customer models that are used by analysts. However, our potential revenue was calculated using conservative sales figures compared to the industry standards for such determinations."
NeoMedia and About will be promoting the co-branded shopping service throughout the About network. The focus of the campaign will be to introduce prospective users to the new service, highlight its features and benefits, and educate them on consumer-based scanning. As part of the emerging About and NeoMedia relationship, About has received a value of $1 million in NeoMedia stock.
The Qode Commerce Solution
The Qode Commerce Solution is a personalized system for online shoppers and is designed to deliver more commerce to licensees` Web sites. Its database of 70 million bar code-indexed products provides product, product promotion and comparison shopping information about items shoppers have expressed interest in buying, and connects them to both Internet and on land retailers.
About The Human Internet
About is the Internet`s most complete targeted environment for users and marketers. With more than 700 topic sites, each overseen by a professional Guide, the About Network provides customers with an experience unlike any other on the Web-including the Internet`s best link directories, original content, community features and commerce opportunities. Media Metrix (May 2001) ranks About.com as the 7th largest Web Property. More information on the company can be found on its Web site at http://about.com
This news release contains forward-looking statements that involve risks and uncertainties regarding About. Investors are cautioned that such results or events predicted in these statements may differ materially from actual future events or results. Factors that could cause actual events or results to differ from anticipated events or results include the company`s limited operating history, history of losses and anticipation of continued losses, potential volatility of quarterly operating results, and other risks that are contained in About`s reports and documents filed from time to time with the Securities and Exchange Commission.
About NeoMedia Technologies
NeoMedia Technologies, Inc. (www.neom.com), the international leader in print-to-Internet commerce-enablement technology, develops technologies that links physical information and objects to the Internet. The company markets these services under the PaperClick™ trademark on the ASP site, www.paperclick.com and via the comparative commerce site of www.qode.com. In addition, NeoMedia`s Systems Integration Group specializes in automating print production operations.
This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement.
PaperClick, PaperClick Enterprise, PaperClick ToGo,the PaperClick logo, Qode, Qode Commerce Solution, and Product DNA are trademarks of NeoMedia Technologies, Inc. Palm OS is a trademark of Palm Computing; Inc. are trademarks of NeoMedia Technologies, Inc. All other trademarks are the property of their respective owners.