September 30, 1999 18:47
infoUSA Selects Cooley Godward LLP for Restructuring and Potential Spin-Off of Internet Division, infoUSA.com
OMAHA, Neb.--(BUSINESS WIRE)--Sept. 30, 1999--infoUSA (NASDAQ: IUSAA) (NASDAQ: IUSAB) today announced that it has retained the law firm Cooley Godward LLP to facilitate the potential spin-off of its profitable Internet Division, infoUSA.com. infoUSA.com is the leading provider of proprietary online business and consumer databases and Internet white and yellow page directory services. Its small business portal, www.infousa.com, has over 330,000 registered users and receives approximately 15 million page views per month, and this number is steadily increasing. Its revenues are derived from four sources: content sales, advertising, licensing fees and e-commerce.
Bill Chasse, president, infoUSA.com, said, "Cooley Godward has successfully launched many Internet companies. We are very pleased to be working with such an experienced and dedicated team."
Alan Mendelson, Senior Partner, Cooley Godward, said, "We selectively commit our resources to the finest Internet opportunities, and are very excited to add infoUSA.com to our client list. We believe that infoUSA.com's profitable operating history and superior business model make it a perfect fit for our firm."
Vinod Gupta, chairman and chief executive officer, infoUSA, said, "We are the leaders in providing content across all channels and we intend to leverage this content for many different applications. Our content has tremendous value which may be maximized by pursuing spinoffs of divisions such as infoUSA.com and VideoYellowPagesUSA.com. We are committed to working with Cooley Godward and our other financial partners in unlocking shareholder value, which we believe is not currently reflected in our stock price." |
