Cybergold Completes itarget.com Acquisition; Membership Soars to More Than Seven Million.Business Editors & Internet Writers OAKLAND, Calif.--(BUSINESS WIRE)--March 29, 2000 Cybergold, Inc. (Nasdaq:CGLD), the leading Internet incentives and payment technology company that rewards consumers with cash, today announced that it has completed its acquisition of itarget.com, Inc., bringing the company's combined total membership to more than seven million. In early March Cybergold's membership reached more than five million. itarget.com currently has 1.8 million members, with an acquisition rate in excess of 10,000 per day and detailed demographic information captured on more than 70 percent. itarget.com, based in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , is a permission e-mail marketing Email marketing is a form of direct marketing which uses electronic mail as a means of communicating commercial or fundraising messages to an audience. In its broadest sense, every email sent to a potential or current customer could be considered email marketing. company that rewards its members with premium products delivered on-line, including free long-distance service. "Our advertisers and members alike will benefit from the exciting new offers and programs we'll be providing through the expanded company," 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. , chief executive officer and president of Cybergold. "We're offering consumers two of the most desirable incentives in the marketplace today -- cash and free long distance. This choice of incentives as well as our enhanced programs offer even greater motivation for our members to act and also provide improved ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). for our partners." Along with increased membership, the acquisition adds key marketing talent to the Cybergold executive management roster. Jonathan Weisz, itarget.com's founder and chief executive officer, joins Cybergold as vice president of database marketing. The itarget.com acquisition was announced on Feb. 28, 2000 and was completed today as a pooling of interests Pooling of Interests An accounting method, used in mergers and acquisitions, where the balance sheet items of the two companies are simply added together. Notes: The opposite of pooling of interests is the purchase acquisition method. . It was the second Cybergold acquisition in a four-month period. Cybergold acquired SmartFrog.com, a privately held Internet company that specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. in cash-back rewards for online shoppers, in November 1999. About Cybergold Cybergold, Inc. (Nasdaq:CGLD) pioneered Internet incentives by rewarding consumers with cash for responding to ads and programs. Cybergold's more than seven million members can spend their cash rewards online or at the sites of 65 merchants that have adopted Cybergold's payment technology. Members can also spend their cash rewards offline by transferring it to a VISA card or a bank account. 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-TRADE, Quintel and Autobytel. Cybergold is headquartered in Oakland, and counts Intel among its corporate investors Noun 1. corporate investor - a company that invests in (acquires control of) other companies company - an institution created to conduct business; "he only invests in large well-established companies"; "he started the company in his garage" . For more information, visit www.cybergold.com Statements in this press release regarding Cybergold, Inc.'s business which are not historical facts are 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 Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the Company's expectations, beliefs, hopes, intentions or strategies regarding the future. Forward-looking statements include statements regarding future revenue and market growth. All forward-looking statements included in this document are based upon information available to the Company as of the date hereof, and the Company assumes no obligation to update any such forward-looking statement. Actual results could differ materially from the Company's current expectations. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's registration statement on Form S-1, as amended. |
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