Cybergold Launches Cash-Back Shopping; 60 Name-Brand Merchants Become Part of Cybergold's Shopping Site
OAKLAND, Calif.--(BUSINESS WIRE)--Nov. 23, 1999--Now, anyone on the Internet can earn instant cash rebates of up to 10% from 60 name-brand merchants such as L.L. Bean, Lands' End, Toys "R" Us, JCPenney and Dell Computer at www.cybergold.com -- just in time for the holidays. Cybergold, Inc. (NASDAQ: CGLD) announces the latest addition to its Earn & Spend(TM) community: Cybergold Plaza(TM).
Cash rebates are automatically credited to the shopper's Cybergold account whenever those shoppers make a purchase. Shoppers who are not yet Cybergold members are prompted to open a secure account free of charge. Members can redeem their rebates for cash by transferring it to a checking account or applying it to their Visa card.
"What makes Cybergold Plaza different is that consumers get cash back when they shop," said Nat Goldhaber, president and CEO of Cybergold. "Shoppers go through Cybergold to the same merchants they would shop at anyway -- but now they get real cash-back in addition to any specials the merchant may be running."
More than 34 million Americans will make at least one purchase online this holiday season, according to eMarketer. They estimate that the average online shopper will spend more than $200 through the end of the year.
"With so many people using the Internet to shop, and so many shopping portals to chose from, you have to give consumers a reason to visit your site," said Jeff Lefkowitz, president and CEO of NewYorkFirst.com, an online department store. "Through affiliations like the one with Cybergold, consumers can do their holiday shopping from the comfort of their homes with the added bonus of getting some of their hard-earned money back."
In a related move, Cybergold announced last week that it acquired the assets of SmartFrog.com, a "frequent-buyer" loyalty program that pays shoppers cash rebates.
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 more than 3.5 million members can spend their cash rewards online at "Cybergold Spend" or at the site of more than 50 merchants who have adopted Cybergold's micropayment technology. They can also spend their cash rewards offline by transferring it to a VISA card or a bank account. Cybergold consistently ranks among the 100 most visited Web sites, according to PC Data Online. Cybergold's partnerships include Visa USA, MBNA, AOL, EarthLink, E*TRADE, Xoom, Quintel and Autobytel. Cybergold is headquartered in Oakland, California and counts Intel among its corporate investors. For more information, visit www.cybergold.com
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CONTACT:
Cybergold
Ted Price, 510/836-8700 x153
tprice@cybergold.com |
