InfoSpace and Found Partner to Extend Merchants` Real-Time Product Availability Data and Multi-Channel Transaction Capability to Consumers Over Mobile Devices
Under agreement, InfoSpace mobile shopping and electronic promotions
services would integrate real-time product availability data from Found`s
ICaM (Integrated Clicks and Mortar) Solution* enabling new ways for
merchants to reach consumers via wireless/wireline devices
BELLEVUE, Wash. and SAN FRANCISCO, CA. - April 17, 2001 - InfoSpace (NASDAQ:
INSP), a leading global provider of cross-platform infrastructure products
and services on wireless, broadband, and narrowband platforms, and Found,
Inc., an e-infrastructure technology solution provider leveraging the
Internet to create efficiencies for offline retailers and manufacturers
throughout the supply chain, today announced an agreement to incorporate
inventory information delivered by Found`s ICaM (Integrated Clicks and
Mortar) Solution* with InfoSpace`s mobile commerce services. This
integration would provide Found retailers with innovative new ways to
increase customer traffic, drive sales and manage inventory by integrating
their real-time product availability data with InfoSpace`s mobile commerce
services, which offer consumers the ability to comparison shop among and
receive promotions for goods and services from almost any device.
For consumers, these cutting edge services provide the ability to quickly
and easily find products currently in stock at nearby retailers with the
best price, confirm availability, pay for products and services and elect to
pick them up at the merchant`s physical storefront or have them shipped, all
from the convenience of a mobile device.
Jupiter Research recently found that the services consumers were most
interested in using via mobile devices were those that allowed them to find
local stores, check the availability of products and compare the prices for
those products among both online and offline merchants. Furthermore,
Jupiter expects that by 2005, the Web will influence roughly 24% of all US
consumer spending but that only 6% of this will be spent online, leaving18%
of all US consumer spending that will be influenced by the Web but that will
be spent in traditional (offline) channels.
"We always are looking for ways to add value to our retail customers`
multi-channel strategy," said Richard Lawson, president and CEO of Found,
Inc. "By partnering with InfoSpace, we are able to provide our customers
with the ability to deliver inventory availability data in real-time to
consumers over a wide range of devices, allowing them to give consumers the
immediately gratifying shopping experience they are demanding."
"InfoSpace is committed to leveraging our core technologies and established
base of users to drive the adoption of mobile commerce by delivering
innovative services that capitalize on the unique aspects of the mobile
environment while providing consumers and merchants with practical solutions
that deliver tangible benefits," said Naveen Jain, chief executive office
and chairman of InfoSpace. "This announcement with Found represents another
step forward in the implementation of our vision of being at the center of
the powerful confluence of online and offline commerce."
About Found, Inc.
Found is an innovative e-infrastructure solution provider that utilizes the
Internet to create dramatic efficiencies for offline retailers and
manufacturers throughout the supply chain. Found`s ICaM (Integrated Clicks
and Mortar) Solution* helps traditional offline companies rapidly and
cost-effectively allow their customers to search for, locate and purchase
products online or offline from their regional distribution centers or local
retail stores. Found technology also provides offline partner companies the
ability to more effectively monitor and react to geographically relevant
real-time product movement within the supply chain. Found is a privately
held company based in San Francisco. For more information, visit
www.found.com .
About InfoSpace
InfoSpace is a leading global provider of cross-platform merchant and
consumer infrastructure services on wireless, broadband, and narrowband
platforms. The Company provides commerce, information, and communication
infrastructure services to wireless devices, merchants, and Web sites.
InfoSpace`s partners encompass a global network of wireless, PC, and non-PC
devices, including cellular phones, pagers, screen telephones, television
set-top boxes, online kiosks and personal digital assistants. InfoSpace has
relationships with Verizon Wireless, AT&T Wireless, Cingular Wireless,
Intel, Virgin Mobile, Hasbro, National Discount Brokers, and Bloomberg,
among others. InfoSpace`s affiliate network also consists of more than 3,200
Web sites that include AOL, Microsoft, NBCi, Lycos, and ABC LocalNet.
InfoSpace is also positioned to tap the market for broadband wired (DSL and
cable) and broadband wireless (2.5G and 3G) services, such as interactive
gaming, television and other entertainment services. In addition, the
Company recently added back-end payment processing to InfoSpace`s existing
commerce services, allowing InfoSpace to offer everything a merchant needs
to conduct the entire lifecycle of a transaction, one of the key drivers of
mobile commerce adoption.
Contact information:
Adam Whinston
InfoSpace
(425) 201-8946
adam.whinston@infospace.com
Coleman Smith
Alexander Ogilvy
Public Relations for Found
(404) 881-2397
csmith@alexanderogilvy.com
This release contains forward-looking statements relating to the development
of InfoSpace`s products and services and future operating results, including
statements regarding InfoSpace`s agreement with Found, Inc., that are
subject to certain risks and uncertainties that could cause actual results
to differ materially from those projected. The words "believe," "expect,"
"intend," "anticipate," variations of such words, and similar expressions
identify forward-looking statements, but their absence does not mean that
the statement is not forward-looking. These statements are not guarantees
of future performance and are subject to certain risks, uncertainties and
assumptions that are difficult to predict. Factors that could affect
InfoSpace`s actual results include the progress and costs of the development
of our products and services and the timing of market acceptance of those
products and services. A more detailed description of certain factors that
could affect actual results include, but are not limited to, those discussed
in InfoSpace`s Annual Report on Form 10-K, in the section entitled "Factors
Affecting Our Operating Results, Business Prospects and Market Price of
Stock." Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this release.
InfoSpace undertakes no obligation to update publicly any forward-looking
statements to reflect new information, events or circumstances after the
date of this release or to reflect the occurrence of unanticipated events.
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