Cybergold Acquires SmartFrog.com; First acquisition adds frequent-buyer program to Cybergold's cash incentives.OAKLAND, Calif.--(BUSINESS WIRE)--November 18, 1999-- Cybergold, Inc. (Nasdaq:CGLD) has acquired the assets of SmartFrog.com, Inc., a privately held Internet company specializing in cash-back rewards for "frequent-buyers." SmartFrog.com represents a new milestone for Cybergold: its first business acquisition, following less than two months after Cybergold's initial public offering. SmartFrog.com brings Cybergold the technology and expertise behind its innovative cash back program at more than 100 online shopping sites including jcrew.com, CDNOW, and borders.com. "This acquisition reinforces our commitment to help advertisers offer the best deals to consumers," said Nat Goldhaber A. Nathaniel ("Nat") Goldhaber - An Internet entrepreneur and longtime associate of the Maharishi Mahesh Yogi, was the Natural Law Party nominee for Vice President in 2000 on the ticket headed by John Hagelin. , president and 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. of Cybergold, Inc. "Cybergold's cash incentives are proven and cost-effective for drawing new customers to products and websites. SmartFrog extends our cash-reward model to include cash rebates for purchases made from more than a hundred retailers. We respect the innovative work done by SmartFrog and decided to make them a part of the family." SmartFrog.com co-founders Peter Bauert and Scott Lenet will both join Cybergold's executive team in Oakland, CA. "There is going to be a big shift in the way advertising is done and Cybergold is in a great position to take advantage of it," said Bauert and Lenet. "We are thrilled to join the leader in pay-per-action advertising." Financial terms of the deal were not disclosed. About SmartFrog.com Based in Austin, Texas, the company specializes in providing shoppers with cash rewards at familiar online stores including 1-800-FLOWERS, Avon, Barnes&Noble.com, CDNOW, ESPRIT ESPRIT - European Strategic Programme for Research in Information Technology , FTD FTD Financial Times Deutschland (German sister newspaper of the Financial Times) FTD Frontotemporal Dementia FTD Fitted FTD Federal Tax Deposit FTD Flight Training Device FTD Fastest Time of the Day , jcrew.com, Publisher's Clearing House Publishers Clearing House (or PCH) is a multi-channel direct marketing company, that offers discounted magazine subscriptions and household merchandise to consumers with the chance to enter to win one of many ongoing sweepstakes. , sharperimage.com and The Disney Store Online. Founded in 1998, SmartFrog.com was the first company to offer cash back on purchases at more than 100 Internet merchants. To learn more, visit www.smartfrog.com. About Cybergold Cybergold, Inc. (Nasdaq:CGLD) is a leading provider of Internet-based direct marketing and advertising solutions, including incentive programs which reward consumers with cash for responding to ads and programs. Cybergold's 3.5 million members can spend their cash rewards both online and offline, when they transfer their earnings to a credit card or a bank account. Cybergold consistently ranks among the 100 most visited Web sites, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. PC Data Online. Cybergold's partnerships include Visa USA, MBNA MBNA Monument Builders of North America MBNA Mercedes-Benz North America MBNA Maryland Bank, National Association MBNA Maryland Bank North America MBNA Mount Baker Nurses Association (Bellingham, Washington) , 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. , EarthLink, E RADE, Xoom, Quintel and Autobytel. It counts Intel among its corporate investors. Cybergold is headquartered in Oakland, California. For more information, visit www.cybergold.com |
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