Product SKUs, Descriptors and Specifications for Wide Range of Software and Consumer Electronics Products Add More Depth to InfoSpace's Commerce Services Platform.
Bellevue, Wash. and San Francisco April 18, 2001 - InfoSpace (Nasdaq: INSP), a leading global provider of cross-platform merchant and consumer infrastructure services on wireless, narrowband and broadband platforms, and CNET Networks, Inc. (Nasdaq: CNET), today announced the companies have reached an agreement whereby InfoSpace will add product SKUs, descriptors and specifications for a wide range of software and consumer electronics products from CNET DataServices (CDS) to InfoSpace's commerce services platform.
InfoSpace's commerce services, offered through industry-leading partners such as Cingular Wireless and American Express, make it possible for consumers to quickly and easily research and compare prices for more than one million products, locate nearby businesses offering the products and services they are looking for, receive electronic promotions and discounts from both online and offline merchants and instantly make purchases from almost any Internet-enabled device.
CDS, a division of CNET Channel (http://www.cnetchannel.com), has approximately 140 site licenses for its products and services. It catalogs more than 600,000 product SKUs worldwide, and continues to add thousands more each week. The service's multilingual and multi-market functionality, which currently includes 12 languages and 25 countries, enables customers to deliver locally focused information on a global scale.
"InfoSpace is making it fast and easy for consumers to use any device to look up just the product or service they need, find an online or offline businesses offering that products, compare prices across a wide range of merchants and pay for the product using any device," said Prakash Kon depudi, head of business development, merchant services at InfoSpace.
"Our customers represent the entire spectrum of the IT supply chain and beyond, yet they all recognize the importance of an effective product data component as part of their overall strategy," said Albert de Heer, president of CNET Channel. "Whether they've tried another service or tried to accomplish the task themselves, they realize the difficulty of obtaining complete, structured, accurate and timely product data. We offer our customers a cost competitive, standardized, multilingual and multi-market solution that has already been accepted by many of their peers. This growing customer community, working in conjunction with our own internal teams, is the means by which we'll become the industry standard for product data."
About CNET Networks, Inc.
CNET Networks, Inc. (Nasdaq: CNET, www.cnetnetworks.com) is an interactive media company that builds brands for people and the things they are passionate about, such as gaming, music, entertainment, technology, business, food, and parenting. The Company's leading brands include CNET, GameSpot, TV.com, MP3.com, CHOW, ZDNet and TechRepublic. Founded in 1992, CNET Networks has a strong presence in the US, Asia, and Europe.
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 AT&T Wireless, Cingular Wireless, Intel, Virgin Mobile, Verizon Wireless, 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, NBC's Snap, 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.
This release contains forward-looking statements relating to the development of the company's products and services and future operating results, including statements regarding InfoSpace's agreement with CNET Networks, 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 the Company's actual results include growth rates within the Company's respective business areas, 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 InfoSpace's Operating Results, Business Prospects and Market Price of Stocks." 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.