MQST news
FedEx, Walgreens and Cendant Select MapQuest.com Technology and Services
Business Wire - August 03, 1999 14:33
NEW YORK--(BUSINESS WIRE)--Aug. 3, 1999--
Fortune 500 Companies Continue to Choose MapQuest.com's Quality, Reliability and Flexibility in Mapping Services--
MapQuest.com, Inc. (NASDAQ: MQST), a leader in advanced mapping systems, today announced the commencement of new partnership agreements with FedEx, Walgreens and Cendant. These leading businesses will incorporate MapQuest.com's mapping technology into their Web sites, corporate Intranets or enterprise networks.
"We are proud to announce these new additions to our long list of Fortune 500 business customers," commented Mike Mulligan, president and CEO of MapQuest.com. "These companies all recognize the importance of the Internet to support and augment their ongoing operations. Our customers are turning to MapQuest.com solutions to add value to their online and offline strategies"
Federal Express
Federal Express Corp. (NYSE: FDX), the world's largest express transportation company, has licensed MapQuest.com's software to guide the planning of package deliveries and pick-ups. The new web-based Intranet application is replacing FedEx's older standalone mapping and driving directions system designed to improve package delivery service to FedEx customers.
Walgreens
Walgreens selected MapQuest.com's Web-enabled mapping content to direct traffic from its Web site to its retail locations. MapQuest.com's technology will help Walgreens' customers throughout the United States locate the closest store and obtain door-to-door driving directions via the Walgreens' Web site.
Cendant
Cendant Corporation is a global provider of consumer and business services and is the world's leading franchisor of hotels, rental car agencies, tax preparation services and real estate brokerage offices. MapQuest.com currently provides the mapping and driving direction technology for Cendant's real estate, lodging and rental car divisions for such prominent brands as Century 21, Coldwell Banker, Avis, Howard Johnson's, Days Inn and many others.
About MapQuest.com
MapQuest.com, Inc. is a leader in advanced mapping systems. The Company launched its popular Web site (www.mapquest.com) on February 5, 1996. Today, MapQuest.com is receiving more than 3.7 million unique visitors monthly(1) to its consumer Web site. As part of their business-to-business services, MapQuest.com helps businesses integrate maps and driving directions into their Internet, intranet and call center applications for improved marketing and customer service functions. MapQuest.com has developed a diverse network of more than 500 business partners, including: Yahoo (YHOO), Lycos (LCOS), Infoseek (SEEK), Excite (XCIT), AOL Digital City (AOL), CitySearch (TMCS), Travelocity (TSG), Bank of America (BAC), MasterCard, Kinko's, Blockbuster, and Dayton Hudson (DH).
In addition to Web-enabled mapping services, MapQuest.com also provides high-quality print maps to leading brands of reference books, travel guides and textbooks. It also provides the underlying mapping and driving direction technology and components to a variety of vertical industries, such as corporate travel, hotels, real estate and retailers.
MapQuest.com is listed on the Nasdaq; the ticker symbol is MQST.
MapQuest.com has included in this press release certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 concerning MapQuest.com's business, operations and financial condition. Such forward-looking statements are subject to various known and unknown risks and uncertainties and MapQuest.com cautions you that any forward-looking information provided by or on behalf of MapQuest.com is not a guarantee of future performance. Actual results could differ materially from those anticipated in such forward-looking statements due to a number of factors, including (i) the volatile and competitive nature of the Internet industry, (ii) changes in domestic and foreign economic and market conditions, (iii) the effect of federal, state and foreign regulation on MapQuest.com's business, (iv) the development of competitive Web sites and businesses; (v) MapQuest.com's relative mix of Internet and traditional and digital mapping businesses, (vi) MapQuest.com's ability to protect its intellectual property rights and (vii) the effect of any future acquisitions. Investors are also directed to consider the other risks and uncertainties discussed in MapQuest.com's Securities and Exchange Commission filings. All such forward-looking statements are current only as of the date on which such statements were made. MapQuest.com does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
"MapQuest.com is a privately owned company backed by Trident Capital, L.P., Highland Capital Partners and Weston Presidio Capital.
(1) Media Metrix, June 1999
CONTACT: MapQuest.com
Jeff Wolf, 212/904-0400
HYPERLINK mailto:Rpalmer@mapquest.com
jwolf@mapquest.com
or
Wilson McHenry Company
Marta Levison, 650/356-5226
mlevison@wmc.com
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