Traffic and membership nearly double at Suite101.com
VANCOUVER, Aug. 23 /CNW/ - Suite101.com, Inc. (OTC BB: BOWG), a leading
Internet Best-of-Web Directory, announced today that traffic and membership
nearly doubled over the past year.
As of June 30, 1999 traffic to the site almost doubled over last year's
quarter, reaching 5.26 million page views, a 97% increase over 2.67 million in
the second quarter of 1998 and an increase of 16% or 4.54 million in the first
quarter of 1999. Membership at Suite101.com also increased substantially to
approximately 43,000, a 97% increase over 21,720 in the second quarter of 1998
and an increase of 15% over 37,229 in the first quarter of 1999.
``We are extremely pleased with Suite's continued growth during the
second quarter considering the fact that our marketing budget to date has been
literally zero,' said Peter Bradshaw, Chairman and Chief Executive Officer of
Suite101.com, Inc., ``However, the Company plans to invest $1.0 million in a
forthcoming marketing and public relations campaign to endeavor to bring Suite
to the attention of the estimated 180 million Internet users.'
The number of Contributing Editors, the guides who seek out the best of
the Web for Suite101.com's Best-of-Web Directory, also grew substantially over
the past year, to almost 700. By the end of July 1999, over 700 Contributing
Editors were searching the Internet for the best resources in 714 topic areas,
making Suite101.com the largest assembly of paid Web guides on the Internet
today.
Other Highlights
After closing a private placement in the second quarter that raised $5.0
million, Suite101.com is currently working with New York-based Doublespace
preparing a marketing and communications plan that is intended to further
increase membership and brand awareness.
The Company will invest $1.0 million in a marketing and public relations
campaign scheduled to launch at the end of the third quarter and run through
the fourth quarter and into 2000.
Suite101.com also announced that it has filed a Registration Statement
with the Securities and Exchange Commission (SEC) to register under the U.S.
Securities Act the shares of common stock and warrants sold in the Company's
recent private placement. A copy of the registration statement is available at
the SEC Web site at sec.gov.
About Suite101.com
Founded in 1996, Suite101.com: suite101.com is a leading
online community of ``Real People Helping Real People.' The Suite101.com
solution focuses on Web guides, called Contributing Editors, who scour the
Internet for the best Web sites in their areas of expertise. In essence, the
Contributing Editors do all the work so the Internet user doesn't have to.
Suite101.com attracts Membership by offering its ``Best-of-Web
Directory' free to all users. In addition, Suite101.com provides the
infrastructure and tools -- discussions, chat, polling, and personalized pages
-- for both visitors and Members to interact and communicate with each other,
fostering and creating community.
Suite101.com's revenue model will concentrate on electronic commerce
(``e-commerce'). Using a consensual marketing model, Suite101.com will offer
participating enterprises (``e-Vendors') with access to psycho-demographic
information on Suite101 Members who have consented to participate in the
program. e-Vendors will then be asked to pay a fee to market their products or
services directly to the participating Member. Revenue from these fees will be
shared between Suite101.com and its Members. As well, Suite101.com intends to
receive additional revenues by participating in completed transactions.
This Press Release contains statements which constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995, including statements regarding the plans, intentions, beliefs and
current expectations of the Suite101.com, Inc. (``Company'), its directors,
or its officers with respect to the future business activities and operating
performance of the Company, its marketing plans and growth in Members and page
views. Investors are cautioned that any such forward-looking statements are
not guarantees of future business activities or performance and involve risks
and uncertainties, and that the Company's future business activities may
differ materially from those in the forward-looking statements as a result of
various factors, including, among others, unexpected delays in the
implementation of its marketing plan, failure to achieve its target goal of
Members, failure to implement its e-commerce revenue model, and the inability
of the Company to raise such additional capital as may be necessary for the
fulfillment of its business plan. Additional important factors that could
cause such differences are described in the Company's periodic filings with
the Securities and Exchange Commission, including the Company's annual report
on Form 10-KSB, quarterly reports on Form 10-QSB, and current reports on Form
8-K, and annual report on Form 10-K. The filings may be viewed at
sec.gov.
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For further information: Nancy McLeod, Investor Relations
(604) 682-1400, Fax: (604) 682-3277, nancym@suite101.com
To request a free copy of this organization's annual report, please go to
www.newswire.ca and click on reports@cnw.
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