AltaVista Completes Acquisition of Raging Bull.
To AltaVista Network
PALO ALTO, Calif., Feb. 3 /PRNewswire/ -- AltaVista Company, the premier new media and commerce network at www.altavista.com, and a majority-owned operating company of CMGI, Inc. (Nasdaq: CMGI), today announced its acquisition completion of Raging Bull, a leading innovative investor and financial community at www.ragingbull.com. AltaVista has acquired Raging Bull through a stock-for-stock exchange of the privately held shares of each company. No other terms of the agreement were disclosed.
Raging Bull will become the flagship AltaVista finance center as well as build community and message boards across the AltaVista Network, bringing its more than three million unique users to AltaVista. Daily page views reported in January on Raging Bull have doubled to more than 12 million since November, based on company data. In December, more than 47 million unique users worldwide visited AltaVista. Combining traffic data is expected to increase AltaVista to more than 50 million monthly visitors with daily page views at 75 million.
"Raging Bull commands one of the most loyal communities on the Internet and some of the best financial content and investor insight available anywhere," said Rod Schrock, president and CEO of AltaVista Company. "With the world-class talent and Raging Bull brand on our team, the AltaVista Network is now in a strong position to create the premier finance destination on the Internet."
Considered a leader in online community, Raging Bull will contribute to AltaVista's strategy in building community and "stickiness" across the AltaVista Network. Raging Bull will remain a native Internet address at www.ragingbull.com and can also be accessed throughout the AltaVista Network.
Media Metrix recently ranked Raging Bull one of the top-ten news, information and entertainment sites based on how often its users visit the site and how much time they spend on the site. Users spend an average of more than 20 minutes per visit, according to I/PRO audited numbers.
"Raging Bull and AltaVista share a commitment to provide a world-class user experience for financial content, community and discussion on the Internet," said Stephen Killeen, president and CEO of Raging Bull. "By combining Raging Bull's strength as a trusted community resource for financial information with AltaVista's powerful brand and global reach, we are poised to create the premier destination for people who are passionate about personal finance."
The Raging Bull community has doubled in size since April and now boasts more than 425,000 registered members and nearly eight million posts on more than 15,000 dynamic message boards.
About Raging Bull
Raging Bull ( http://www.ragingbull.com ) is one of the companies leading the investor revolution by providing individual investors with access to the discussions and information previously reserved for investing professionals. Raging Bull levels the investing playing field by providing free real-time stock quotes, news, original editorial and more than 15,000 dynamic discussion boards. Recently cited by Media Metrix as the second "stickiest" financial site used at work and third "stickiest" financial site used at home and selected as one of Forbes Magazine's "Best on the Web," Raging Bull has grown to a community of more than 425,000 registered members who rely on the site for the information they need before making an investing decision. Raging Bull is a wholly owned subsidiary of AltaVista Company.
About AltaVista Company
AltaVista Company is the premier media and commerce network offering Internet users up-to-the-minute news, live video, content, search and shopping resources. The company integrates unique technology, products and services to deliver relevant results faster for both individuals and businesses. AltaVista is building on its heritage of technology and innovative leadership, offering informative services including AltaVista Search, AltaVista Live!, AltaVista Shopping.com, and AltaVista Free Internet Access combined with the microportal. AltaVista is a majority-owned operating company of CMGI, Inc., Andover, Mass. AltaVista is headquartered in Palo Alto, Calif.
With more than 60 companies, CMGI, Inc. represents the largest, most diverse network of Internet companies in the world. This network includes both CMGI operating companies and a growing number of synergistic investments through its venture capital affiliate, @Ventures. CMGI leverages the technologies, content and market reach of its extended family of companies to foster rapid growth and industry leadership across its network, and the larger Internet Economy. Compaq, Intel, Microsoft, Pacific Century CyberWorks and Sumitomo hold minority positions in CMGI.
NOTE: AltaVista is registered with the U.S. Patent and Trademark Office. Shopping.com, Smart is Beautiful, AltaVista Free Access and Raging Bull are trademarks of AltaVista Company or its affiliates. Product names mentioned herein may be trademarks and/or registered trademarks of their respective companies.
This release contains forward-looking statements based on current expectations or beliefs, as well as a number of assumptions about future events, and these statements are subject to important factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The forward-looking statements in this release address a variety of subjects including, for example, the expected benefits resulting from AltaVista's acquisition of Raging Bull and the ability of Raging Bull to become the premier finance destination on the Internet. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: the risk that Raging Bull is not successfully integrated with AltaVista, slower than expected growth in Internet usage for personal finance; the timely development of new finance and community building products and services; and increased competition and technological changes in the industries in which AltaVista and Raging Bull compete. For a detailed discussion of these and other cautionary statements, please refer to CMGI's filings with the Securities and Exchange Commission, including CMGI's Annual Report on Form 10-K for the most recently ended fiscal year.
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|Date:||Feb 3, 2000|
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