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AUTOWEB.COM INC (NASDAQ: AWEB)
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News June 15, 08:03 Eastern Time
Autoweb.com and Yahoo! Sign Multi-Year Agreement; Autoweb.com to Become Sole Premier Non-Manufacturer Auto Merchant
SANTA CLARA, Calif., Jun 15, 1999 (BUSINESS WIRE via COMTEX) -- Yahoo! Inc. (Nasdaq: YHOO), a global Internet media company, today announced a premier merchant agreement with Autoweb.com (Nasdaq: AWEB), a leading consumer automotive Internet service, designed to provide Yahoo!(R) users direct access to Autoweb.com's (www.autoweb.com) comprehensive new and pre-owned automotive-buying service.
The agreement, which includes promotions beginning in September 1999, will be fully implemented by January 2000.
Yahoo!'s audience size, market position and brand name provide Autoweb.com with targeted reach to generate traffic and create additional site visibility. In turn, Autoweb.com provides Yahoo! users with direct access to an extensive source of automotive content, commerce and community offerings.
"This is truly a dynamic opportunity for Autoweb.com and Yahoo!," said Dean DeBiase, president and chief executive officer, Autoweb.com. "By aligning Autoweb.com with an Internet leader and strong brand like Yahoo!, we are accelerating our position as a leading consumer automotive Internet site. Also, we are introducing our service to millions of new consumers, offering them a comprehensive online automotive experience to assist with all stages of vehicle ownership."
"This premier merchant agreement is a result of Yahoo! and Autoweb.com's commitment to continue working together to provide the best service, content and convenience for our huge audiences," said Anil Singh, senior vice president of sales, Yahoo! "Autoweb.com has always shared our vision of making the Internet the first place consumers go to research, purchase or sell a vehicle."
The companies have agreed to implement the program featuring the
following elements:
-- As the sole premier non-manufacturer auto merchant on Yahoo!,
Autoweb.com will have a fixed placement in all automotive pages
of Yahoo!, including Yahoo! Autos, Yahoo! Classifieds, Yahoo!
Auctions, Yahoo! Yellow Pages and other Yahoo! automotive related
properties;
-- Autoweb.com's inventory of pre-owned vehicles will receive
priority listing on all of Yahoo!'s pre-owned automobile search
result pages in Yahoo! Classifieds; this will provide consumers
and dealers selling pre-owned cars increased visibility to
potential buyers;
-- Yahoo! will feature Autoweb.com in front page promotions on
Yahoo!'s main site (www.yahoo.com), such as automotive
give-aways, driving consumers to the Autoweb.com site;
-- Autoweb.com will be the sole premier non-manufacturer auto
merchant in the Yahoo! EZ Wheels program, an incentive-based,
direct marketing program designed to generate purchase requests
for Autoweb.com; and,
-- Autoweb.com will have major presence through banner and other
advertisements throughout the Yahoo! site, extending the
Autoweb.com brand to millions of Yahoo! consumers.
The new agreement expands Autoweb.com's current premier merchant program and integrates elements of Yahoo!'s Fusion Marketing Online(TM) (FMO) program. The FMO approach to online marketing offers "one stop shopping" for companies seeking to secure a measurable presence on the World Wide Web. It offers clients a full range of marketing options from targeted advertising, promotions and direct marketing to actually enabling a business to conduct online commerce, provide merchandising services, and support loyalty programs.
About Autoweb.com, Inc. Autoweb.com is a leading consumer automotive Internet service. With an extensive collection of automotive related community, content and commerce offerings, Autoweb.com guides consumers through every stage of vehicle ownership from browsing and buying, to enjoying, maintaining or selling. As a trusted intermediary, the Autoweb.com process connects mass market consumers to real-world buying alternatives through an extensive network of Member Dealers andother commerce partners, and ensures the consumer experience is faster, better andeasier.
About Yahoo! Yahoo! Inc. is a global Internet media company that offers a branded network of comprehensive information, communication and shopping services to 60 million users worldwide. As the first online navigational guide to the Web, www.yahoo.com is the leading guide in terms of traffic, advertising, household and business user reach, and is one of the most recognized brands associated with the Internet. The company's global Web network includes 19 world properties. Yahoo! has offices in Europe, the Asia Pacific, South America, Canada and the United States, and is headquartered in Santa Clara, Calif.
Conference call Autoweb.com will hold a conference call today, June 15th at 6 a.m. (please call in 10 minutes prior to the start of the call). Pacific Time. To participate in the call, please dial 312/470-7162. There will be a replay available for 48 hours at 402/280-9925.
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995
This news release contains forward-looking statements or predictions. These statements represent our judgment as of this date and are subject to risks and uncertainties that could cause actual results or event to differ materially from those expressed in such forward-looking statements. Potential risks and uncertainties include, without limitation, those associated with economic conditions, government regulations and delays or other problems with product development. These and other factors are discussed in more depth in both companies' filings with the SEC, copies of which may be accessed through the SEC's World Wide Web site at sec.gov.
Note to Editors: Yahoo!, Fusion Marketing Online, and the Yahoo! logo are trademarks and/or registered trademarks of Yahoo! Inc. All other names are trademarks and/or registered trademarks of their respective owners.
Copyright (C) 1999 Business Wire. All rights reserved.
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CONTACT: Yahoo! Inc.
Sarah Ross, 408/530-5172
sross@yahoo-inc.com
or
NRW Public Relations for Yahoo!
Blaise Simpson, 650/827-7065
blaise@nrwpr.com
or
Autoweb.com
Colby Grimes, 408/330-4744
colbyg@autoweb.com
or
Copithorne & Bellows for Autoweb.com
Laurie Anne Lassek, 415/975-2236
laurieanne.lassek@cbpr.com
or
Stapleton Communications for Autoweb.com (IR)
Ellen Brook, 650/470-4205
ellen@stapleton.com
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