Friday November 5, 2:30 pm Eastern Time
Company Press Release
SOURCE: InsWeb Corporation
InsWeb Selects New, Larger Headquarters Facility
REDWOOD CITY, Calif., Nov. 5 /PRNewswire/ -- InsWeb (Nasdaq: INSW - news), the Internet's leading insurance marketplace, announced today that it has signed a multi-year agreement with Spieker Properties Inc. (NYSE: SPK - news) to lease a new, 160,000-square-foot headquarters in San Carlos, Calif.
(Photo: newscom.com )
Currently under construction, the two-building Skyway Landing complex is visible from the heavily traveled Highway 101 in Silicon Valley. InsWeb's new headquarters will be five miles from InsWeb's current location in Redwood City on the San Francisco Bay peninsula.
``Our new headquarters is a highly desirable location that will enable InsWeb to continue attracting Silicon Valley's best employees, and will accommodate our growth plans in coming years,' said InsWeb Chief Executive Officer Hussein Enan.
InsWeb has grown quickly over the past year. The company has rolled out new products and added more insurance companies to its market-leading insurance offering. InsWeb's revenues grew 39 percent to $7 million in the third quarter of 1999, compared to $5.1 million in the second quarter of 1999.
``Spieker Properties has done a wonderful job in designing this project to meet the technological needs of e-commerce companies and to provide a quality work environment,' said InsWeb Senior Vice President Sherie Dodsworth.
InsWeb's marketplace is revolutionizing the process of finding insurance by empowering consumers to compare, select and buy products from direct writers, exclusive agents, and independent agents at a single location -- a digital, one-stop shopping environment that does not exist today in the physical world.
About InsWeb
InsWeb, the leading online insurance marketplace ( insweb.com ), helps consumers save time and money by providing free, multiple insurance quotes sponsored by the nation's leading insurance companies. InsWeb's 46 participating insurers offer auto, health, homeowners, renters, term life insurance and pet insurance. InsWeb is accessible from more than 125 sites on the Internet, including Yahoo!, GO Network, Snap.com, LookSmart, Go2Net, ZDNet and E*TRADE. In addition, InsWeb provides real-time customer service, as well as interactive tools and research capabilities that assist consumers in making more informed decisions. InsWeb is rated the Internet's No. 1 insurance site by Gomez Advisors and Lafferty Group, two independent companies that rank online sites, and was recently ranked one of the ``50 Most Incredibly Useful Sites' by Yahoo! Internet Life. InsWeb is headquartered in Redwood City, Calif.
NOTE: ``INSWEB' is a registered service mark of InsWeb Corporation. All marks above are those of InsWeb Corporation, except for those of insurance carriers, brokers, agents, industry organizations, financial institutions, online partners, service providers, other mentioned companies and educational institutions, which are the marks of their respective entities.
SOURCE: InsWeb Corporation
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