FINDWHAT.COM ANNOUNCES RENEWED AGREEMENT WITH INFOSPACE’S METASEARCH SERVICES—DOGPILE AND METACRAWLER
Public Relations Contact:
James Pearson
Rubenstein Associates, Inc.
212-843-8297
jpearson@rubenstein.com
Company Contact:
Beverly Fox
FindWhat.com
941-561-7229
beverlyf@findwhat.com
Phillip R. Thune, COO / CFO
FindWhat.com
212-255-1500
pthune@findwhatcorp.com
NEW YORK – August 6, 2001 - FINDWHAT.COM (NASDAQ: FWHT) a leading developer and marketer of performance-based advertising services for the Internet, featuring the FindWhat.com pay-for-performance search engine, announced today it has renewed its agreement with InfoSpace, Inc. (NASDAQ: INSP) and its metasearch services Dogpile and MetaCrawler.
Pete Neumann, vice president of business development for FindWhat.com commented, "InfoSpace’s metasearch services—Dogpile and MetaCrawler—reach a large number of highly-qualified and loyal users. We are pleased to be able to provide our advertisers with access to that audience. Our agreement with InfoSpace significantly extends the reach of our advertisers across the Internet."
Infospace first signed an agreement with FindWhat.com last year. Richard Pelly, InfoSpace vice president, business development said, “We are pleased to continue working with FindWhat.com. This alliance provides our users with solid results and furthers our efforts to maintain and build the most comprehensive and efficient search products.”
On July 23, 2001, FindWhat.com announced its first profitable quarter as a public company and that it was the first performance-based search engine to announce achievement of positive net income on a GAAP basis. Revenue in the second quarter of 2001 increased 73 percent sequentially over the first quarter, and the company raised its 2001 revenue estimate to $18 million. That would be a 500 percent increase over 2000 revenue. The company launched its search engine in September 1999.
About FindWhat.com
Through its performance-based, bid-for-position search engine (www.FindWhat.com), FindWhat.com operates an online marketplace where Web publishers use an automated bidding process to determine the per-click fee they will pay for premier placement on the search results returned by the FindWhat.com search engine. These results are shown on FindWhat.com’s network of distribution partners, which include Excite, Webcrawler, CNET’s Search.com, and InfoSpace’s MetaCrawler and Dogpile. The Web sites offering the highest bid for particular keywords and key phrases appear first on the list of search results distributed throughout the network. This cost-effective, pay-for-performance model allows Web publishers to pay only for those customers who click through to their sites, and increase their potential for exposure through the millions of searches distributed throughout the network per day. More information on FindWhat.com is available on the company’s web site at http://www.FindWhat.com.
Forward Looking Statements
This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words or expressions such as "plan," "intend," "believe" or "expect`" or variations of such words and similar expressions are intended to identify such forward-looking statements. Key risks are described in FindWhat.com`s reports filed with the U.S. Securities and Exchange Commission. Readers should note that these statements may be impacted by several factors, including economic changes and changes in the Internet industry generally and, accordingly, FindWhat.com`s actual performance and results may vary materially from those stated herein, and FindWhat.com undertakes no obligation to update the information contained herein.
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