Be Free Executives Strengthen ValueClick`s Corporate Leadership and Strategy Following Acquisition
WESTLAKE VILLAGE, Calif.--May 28, 2002--
ValueClick, Inc. Continues to Attract Business Leaders With a Wealth of Knowledge and Experience in Realizing Revenue and Profitability Goals
ValueClick, Inc. (Nasdaq: VCLK), a leading provider of interactive and traditional marketing solutions, today announced management changes resulting from its completed acquisition of Be Free on Friday, May 24, 2002.
-- Effectively immediately, Stephen M. Joseph, Executive Vice President, Chief Financial Officer, and Treasurer of Be Free, will assume the post of Executive Vice President of Corporate Development for ValueClick, Inc. He will be spearheading corporate development at ValueClick -- designing the integration of all of ValueClick`s divisions and focusing on mergers and acquisitions.
-- W. Blair Heavey, Executive Vice President of Worldwide Sales for Be Free, will accept the role as Executive Vice President and General Manager of the Be Free subsidiary of ValueClick, Inc. He will be responsible for Be Free`s fiscal progress and spearhead the subsidiary`s day-to-day operations, including sales, marketing, client services, and finance.
-- Be Free co-founder, Samuel Gerace, takes on the role of Executive Vice President, Technology and Development of the Be Free subsidiary. In this role, Gerace will lead technology development and product innovation for the subsidiary.
Stephen Joseph:
An industry-leading strategist, Joseph has been integral to Be Free`s strategic direction and management since 1998. At the helm of Be Free`s financial, legal and administrative teams, Joseph managed Be Free`s profitability goals and aggressive cost containment efforts -- reducing the company`s cash burn rate by millions of dollars. Prior to joining Be Free, Joseph was the Vice President of Finance at PC`s Compleat, where he held a similar role managing finance, administration and investor relations.
"Stephen has a proven track record for streamlining multi-million dollar organizations, and deep experience in the online marketing arena," said James Zarley, Chairman and Chief Executive Officer of ValueClick, Inc. "His expertise and talents are critical to our success as we take ValueClick to the next level and revolutionize traditional and digital marketing."
"ValueClick offers a wide range of digital marketing solutions -- from brand advertising to direct marketing strategies," stated Joseph. "Today`s businesses are looking for a one-stop-shop of integrated marketing solutions to meet their individual business goals. I am delighted to lead the integration of ValueClick`s product families and create a comprehensive marketing platform."
W. Blair Heavey:
A seasoned sales and marketing executive, Heavey led Be Free`s sales and marketing efforts in the United States, Europe, and Latin America during his tenure with Be Free. Under his leadership, Be Free`s sales team grew annual revenues from less than $1M to $23.5M. Prior to joining Be Free in 1998, Heavey led sales efforts for some of the most recognized names in the computer industry, including management roles at Open Market, Hewlett-Packard and Xerox.
"Blair`s leadership, deep sales experience and marketing instincts are just what we need to bring the Be Free subsidiary on a rocket ride to success," stated Zarley. "We are pleased to welcome him to our team."
"ValueClick has enormous potential to become the dominant player in the media and technology business," stated Heavey. "The company has the right technology, the right media solutions, the right leadership and the determination to make great things happen. I`m excited to be part of this team and lead the charge toward realizing revenue and profitability goals."
Samuel Gerace:
Along with his brother Thomas, Gerace was the visionary and technology strategist behind Be Free and its industry leading BFAST(R) and BSELECT(SM) Onsite marketing services. Gerace led Be Free`s development, operations, technical communications and product strategy functions, in addition to playing a critical role in the company`s management team and serving as a member of the former Be Free Board of Directors.
"ValueClick will surely benefit from Sam`s deep understanding of both technology development and marketing strategy," said Zarley. "Sam is not only the best person to spearhead technology and operations for the Be Free subsidiary, but he also brings value to the development of ValueClick`s overall vision for the future."
About Be Free, a wholly owned subsidiary of ValueClick, Inc.
Be Free offers cost-effective and measurable ways to attract customers and increase online sales using affiliate and partner marketing programs and an automated merchandising assistant. With Be Free`s BFAST(R) affiliate marketing service, businesses build and manage a channel of online marketing partners to promote products and services across the Web. These partners are compensated based on performance, resulting in a significantly lower cost of customer acquisition. With Be Free`s BSELECT(SM) Onsite service, retailers convert more browsers to buyers on their web site -- learning from customer behavior and automatically serving real-time product recommendations. BSELECT gives a merchandiser insight into the right products to promote and where to promote them for the best results --s increasing sales and revenue. For more information on Be Free`s products and services, visit www.befree.com.
About ValueClick, Inc.
ValueClick, Inc. (Nasdaq:VCLK) is a leading provider of interactive and traditional marketing solutions. ValueClick, Inc. offers marketers and advertisers a wide spectrum of custom media and technology solutions such as publisher and real-time third party ad serving, CPM, CPC, and CPA models, partner marketing services, personalized recommendation technology, agency management software, and both customer acquisition and customer retention email technology. ValueClick, Inc. provides results for clients such as General Motors, Inc., the Coca-Cola Company, Heineken N.V., Sara Lee Corporation, GlaxoSmithKline, Citigroup, Inc., American Express Company, British Airways, Hyatt Corporation, AAA, Ameriquest, WorldComm, the Wall Street Journal`s Career Journal and Real Estate Journal, Barclays Bank, Dell Computers, Expedia, and Microsoft. For more information, please visit www.valueclick.com.
This release contains forward-looking statements that involve risks and uncertainties, including trends in online advertising spending and estimates of future online performance-based advertising. Actual results may differ materially from the results predicted and reported results should not be considered an indication of future performance. Important factors which could cause actual results to differ materially from those expressed or implied in the forward-looking statements are detailed under "Risk Factors" and elsewhere in filings with the Securities and Exchange Commission made from time to time by ValueClick, including its Annual Report on Form 10-K filed on March 22, 2002, recent quarterly reports on Form 10-Q and current reports on Form 8-K. Other factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements include the risk that market demand for online advertising, and performance-based online advertising in particular, will not grow as rapidly as predicted. ValueClick undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
CONTACT:
ValueClick, Inc.
Elizabeth M. Lloyd
415/293-1866
elizabeth@valueclick.com
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