BabyGear Completes Purchase of Key iBaby Commerce Assets; iVillage to Take Equity Stake in BabyGear.Business & Technology Editors NEW YORK--(BUSINESS WIRE)--July 6, 2000 Babygear.com, the Internet's largest Baby superstore su·per·store n. A very large retail store that stocks highly diversified merchandise, such as groceries, toys, and camera equipment, or a wide variety of mechandise in a specific product line, such as computers or sporting goods. and leader in the baby and children's merchandise space, today announced the completion of the purchase of key commerce assets of rival baby merchandise site iBaby from iVillage.com (Nasdaq: IVIL). "This marks a great day for Babygear.com, as we continue to strengthen our hold on the leadership position in the baby and children's merchandise space," said Babygear.com CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Preston Bealle. "The adoption of iBaby into the Babygear.com family sends a clear message to mothers and parents that there really is only one place to go for the greatest prices and widest selection of baby and children's merchandise on the Internet today, and that place is Babygear.com" added Bealle. With the solid backing of such high-profile names as Gruner + Jahr Gruner + Jahr GmbH & Co. KG is the largest European printing and publishing firm. Its headquarters is in Baumwall, Hamburg, Germany. History Originally founded on Aug 1, 1948 as the Henri Nannen publishing house, Gruner + Jahr was created in 1965 from a merger by and Vantage Point Venture Partners, our course is well-established to dominate this space." While full details of the arrangement were not disclosed, iVillage will take an equity stake in Babygear.com, and the iBaby assets will be gradually folded into the Babygear.com site. In addition, iVillage will also enter into a five year sponsorship agreement with Babygear.com, whereby Babygear.com will be prominently and exclusively featured on iVillage properties, including the online home page, parenting and shopping channels Shopping channels are television specialty channels that present shopping related content, particularly for home shopping enthusiasts. Home shopping pioneers:
n. The department of a hospital that provides care for women during pregnancy and childbirth as well as for newborn infants. . "Babygear.com continues to be a leader in the online baby superstores This is a list of superstores by country. Multi-national
"The primary key to this partnership, apart from placing Babygear.com even further in front as a category owner, is that it allows both companies to focus on what they do best, while still maintaining and strengthening their unique core brands," Bealle added. About Babygear.com Babygear.com is a leading online baby superstore with one of the largest selections in the world from over 250 brands. The company was founded by experienced retailers in the juvenile products industry and career marketing experts, and has been in operation for two years. The company is funded by Vantage Point Venture Partners, a leading Silicon Valley firm with over $2.5 billion under management, and by Gruner + Jahr USA, a division of Bertelsmann AG Bertelsmann AG German media company. Beginning as a religious printer and publisher in 1835, the company grew steadily over the next century. Though virtually destroyed by Allied bombing in 1945, it recovered quickly after World War II. and a leading publisher in the world of parenting and baby magazines. About iVillage.com: The Women's Network iVillage.com: The Women's Network (http://www.ivillage.com and AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. keyword: ivillage) is the leading women's network online providing practical solutions and everyday support for women between the ages of 25 and 54. iVillage.com is organized into branded communities across 16 content channels that focus on issues of most importance to women and provide interactive services, peer support and online access to experts and tailored shopping opportunities. Content channels include allHealth, Astrology astrology, form of divination based on the theory that the movements of the celestial bodies—the stars, the planets, the sun, and the moon—influence human affairs and determine the course of events. , Beauty, Click!: Where Computers Make Sense, Diet & Fitness, Food, Garden, MoneyLife, ParentsPlace, Parent Soup, Pets, Readers & Writers, Relationships, Travel, Work from Home and Working Diva. Established in 1995 and headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , iVillage Inc. (Nasdaq: IVIL) is a new media company, recognized as an industry leader in developing innovative sponsorship and commerce relationships that match the desire of marketers to reach women with the needs of iVillage.com members for relevant information and services. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: iVillage Inc. has included in this press release certain "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of the Private Securities Litigation Reform Act of 1995 concerning iVillage's business, operations and financial condition. The words or phrases "can be", "expects", "may affect", "may depend", "believes", "estimate", "project" and similar words and phrases Words and Phrases® A multivolume set of law books published by West Group containing thousands of judicial definitions of words and phrases, arranged alphabetically, from 1658 to the present. are intended to identify such forward-looking statements. Such forward-looking statements are subject to various known and unknown risks and uncertainties and iVillage cautions you that any forward-looking information provided by or on behalf of iVillage is not a guarantee of future performance. Actual results could differ materially from those anticipated in such forward-looking statements due to a number of factors, some of which are beyond iVillage's control, in addition to those discussed in iVillage's other press releases, public filings and statements by iVillage's management, including (i) the volatile and competitive nature of the Internet industry, (ii) changes in domestic and foreign economic and market conditions, (iii) the effect of federal, state and foreign regulation on iVillage's business, and (iv) the impact of recent and future acquisitions on iVillage's business and financial condition. All such forward-looking statements are current only as of the date on which such statements were made. iVillage does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events. |
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