Ilife.com Names Elisabeth DeMarse CEO; Former Bloomberg and Hoover's Executive Takes Helm of Top Financial Services Site as Sales and Traffic Reach Record Levels.
NORTH PALM BEACH, Fla.--(BUSINESS WIRE)--May 1, 2000
Ilife.com (NASDAQ:ILIF) today named Elisabeth DeMarse president and chief executive officer of ilife.com and its leading bankrate.com brand. DeMarse joins ilife.com from Hoover's Inc., which owns and operates Hoover's Online, where she most recently served as executive vice president of international operations. Previously, she was a group executive at Bloomberg L.P., where, as a member of the executive management team, she helped grow the company to $1.5 billion from $50 million in revenue.
"The CEO appointment of such a prominent business information leader as Elisabeth is a milestone in the strategic re-alignment of ilife.com's business," said Jeff Cunningham, chairman of the board of directors. "Elisabeth relishes the challenge of building ilife.com into a profitable Internet company and leveraging its brands on the Internet and beyond. Her extensive experience with building and running both financial services and Internet businesses will be key to developing our core strengths in delivering targeted advertising, sponsorships and e-commerce transactions in the personal finance markets."
Ms. DeMarse joins the company just as ilife.com delivers record revenues and record traffic. The company recently announced revenue of $3,931,000 in the first quarter of 2000, up 77% from $2,226,000 in the first quarter of 1999. Online publishing revenue grew 120% from the comparable quarter last year and represented 77% of total revenues in the recent first quarter, compared to 62% in the first quarter of 1999. In addition, the company recently added two key appointments to its board of directors: Jeff Cunningham, formerly of Forbes and CMGI, and Bill Martin, founder of Alta Vista's Raging Bull.
"I look forward to leading ilife.com and its family of sites at this pivotal time," said Ms. DeMarse. "With its diversified revenue streams, increasing traffic metrics and exceptional team dedicated to creating new revenue opportunities, ilife.com is poised to lead the coming wave of Internet banking services. Ilife.com's loyal user base, combined with the site's targeted approach, already yields one of the highest CPM's of any personal finance Web site, and we will devote ourselves to growing this targeted category. The banking sector is ready to explode on the Web in the coming year, particularly with the new emphasis on savings, interest rates, and value spending. It will soon engage a large, online commerce-oriented demographic that is substantially larger than the standalone stock trader demographic previously synonymous with the finance category. With a renewed focus on our core bankrate.com site, we will produce a very successful and profitable Internet business."
"Elisabeth's creativity, enthusiasm and experience in our market adds a new dimension to ilife.com that our entire team feels is the key ingredient to achieving the incredible financial promise of this business," said Cotter Cunningham, former interim CEO, who will now hold the position of senior vice president - marketing & product development.
DeMarse worked with Hoover's, Inc., the successful businessperson's portal, since February 1999. Prior to Hoover's, she spent ten years at Bloomberg L.P. in a leadership position where she led the start-up of eight businesses and founded Bloomberg's e-commerce and i-commerce divisions. At Bloomberg, she arranged more than 20 major deals and new business ventures and redefined the company's brand to extend beyond professional financial services to a broader range of personal service offerings. Prior to Bloomberg, she served four years at Citibank's Information Business, and four and one half years at Western Union marketing telecommunications services.
DeMarse holds an AB with Honors from Wellesley College where she majored in History and an MBA from Harvard with an emphasis on Marketing.
Based in North Palm Beach, Fla., ilife.com (NASDAQ:ILIF) is an industry leader in providing and syndicating personal finance infrastructure for the online consumer public through a broad portfolio of demographically targeted Web sites, print publications and broadcast segments. The company's leading personal finance site, bankrate.com, features original content that deals with financial planning, taxes, insurance, investing and banking. Our gateway site, www.ilife.com serves as an introduction to ilife.com's family of Web sites, including the award-winning bankrate.com, Pivot.com (insurance e-commerce - www.pivot.com), theWhiz.com (planning content - www.thewhiz.com), IntelligentTaxes.com (tax planning - www.intelligenttaxes.com), Consejero.com, (Spanish-language personal finance - www.consejero.com) CPNet.com (college lifestyle - www.cpnet.com) and GreenMagazine.com (investing - www.greenmagazine.com). Content from ilife.com is published on co-branded Internet sites through more than 120 distributors, including Snap (NASDAQ:NBCI), Yahoo! (NASDAQ:YHOO), America Online (NYSE:AOL), CNN and Smart Money. The company's original research is also distributed through more than 120 national and state publications. Ilife.com sites have approximately one million unique visitors per month, according to Media Metrix.
This press release may contain "forward-looking statements" relating to ilife.com, Inc. Prospective investors and shareholders are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth in ilife.com's Annual Report on Form 10-K for the year ended December 31, 1999. Ilife.com undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results.