[02-03-00 02:37 PM ET] ON THE HEELS OF ANNOUNCING PROJECTED ~800% CONTINUING OPERATIONS REVENUE GROWTH FY 99 V. FY 98 NEWKIDCO LEAPFROGS ITS COMPETITORS AND ESTABLISHES SUBSTANTIVE SHAREHOLDER VALUE AND CRITICAL MASS INFRASTRUCTURE WITH TODAYs ANNOUNCEMENT OF A MAJOR INTERNET KIDS PORTAL[1.] DOVETAILING WITH FEB 1 ISSUE OF INTERNET WORLDs (THE VOICE OF BUSINESS AND INTERNET TECHNOLOGY) FRONT COVER FEATURE "CLICKING WITH KIDS- A MULTIBILLION-DOLLAR MARKET NOBODYs CRACKED"[2.]...
NEWKIDCO INTERNATIONAL INC. AND KAON INTERACTIVE COMPANY, LLC FORM INTERNET-BASED JOINT VENTURE
NEWKIDGAMES.COM TO DELIVER INTERACTIVE VIDEO GAMES FOR YOUNG CHILDREN ON THE WEB
Burlington, MA and Cambridge, MA - February 3, 2000 -NewKidCo International Inc. (OTC BB: NKCIF; TSE: NKC), a leading children's video game publisher ("NewKidCo") and Kaon Interactive Company, LLC ("Kaon"), a developer and application service provider of shared, interactive "turnkey 3D" content on the web, today announced the formation of a new company, NEWKIDGAMES.COM, to deliver children's video games and entertainment on the web.
NEWKIDGAMES.COM plans to develop an interactive video game web site and portal specifically designed for young children (under 12). The site, expected to launch in the second half of the year, is being created to offer very high quality 3D interactive single and multi-player games. NEWKIDGAMES.COM plans to be a place where the content is "safe" and kids can have fun. The site will only carry games, advertising and products that are "wholesome" enough for young children and will not carry any violent or mature content. While the core attraction of the site will be games, as the user base grows, it is anticipated that the site will become more of a kids' portal with other online site features.
NEWKIDGAMES.COM'S competitive advantage is expected to be two fold - a unique 3D technology coupled with an expertise in creating kids' video games based on well-known characters. NEWKIDGAMES.COM has an exclusive perpetual license to use Kaon's HyperActive, a 3D interactive technology. HyperActive allows very high quality, single and multi-player, 3D interactive games to be played over the Internet within standard browsers, without the bandwidth constraints and huge downloads required by other technologies. The Kaon HyperActive technology allows for a rich interactive video game experience over a dial-up modem that Kaon believes cannot currently be duplicated by any competitor.
NewKidCo and Kaon have each made an equal capital investment in the new company and will provide technology, management and marketing expertise to NEWKIDGAMES.COM.
Richard Rabins, CEO of NewKidCo commented, "In the U.S. alone, there are approximately 43 million children in the under 12 year old marketplace. Analyst projections are that this age group's use of the Internet will grow from the current 25% in 1999 to over 50% by 2003. In addition, the market outside the U.S. will, over time, be even larger. As a publisher of video games for kids, we know that kids have a huge appetite for video games that we believe will translate to the web. NEWKIDGAMES.COM will serve as an excellent complement to our console-based video gaming business."
Richard Silton, President and CEO of Kaon added, "We view our alliance with NewKidCo in developing NEWKIDGAMES.COM as strategic in that we will be entering the children's game market with an experienced partner that already has the expertise and critical relationships in place. By combining these strengths with our breakthrough HyperActive technology, our objective is to become a dominant children's game site very quickly..." [emphasis added] Source: NewKidCo 02/03/00 Company Press Release newkidco.com
[2.] INTERNET WORLD February 1, 2000 Front Cover Feature Clicking With Kids A Multibillion-dollar Market Nobody's Cracked. Understanding The Net's Toughest Customer. Why It's Worth Targeting Those Elusive 13-And-Unders. pp. 67-75. www.internetworldnews.com
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