Findwhat (NASDAQ:FWHT)
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New Name for Online Search Pioneer Underscores Reach of Global
Network and Commitment to Helping Businesses Grow
The Board of Directors of FindWhat.com, Inc. (NASDAQ: FWHT) today
announced the Company will change its name to MIVA, Inc., as it fully
integrates and creates a single brand around the businesses it has
brought together over the last 18 months. The combined global Company
is the largest independent Performance Marketing Network.
The Company's ticker symbol will be changed to NASDAQ: MIVA, on
June 13, 2005; the Company expects the re-branding to be complete by
the end of June 2005.
The re-branding -- which has been under development for
approximately nine months -- is designed to unify the Company's
divisions under one global name, business strategy and vision for
Performance Marketing. MIVA, Inc., and its subsidiaries will operate
under three divisions:
-- MIVA Media, formerly the FindWhat.com and Espotting brands,
will manage the Company's advertising networks -
Pay-Per-Click, Pay-Per-Call and AdRevenue Xpress (U.S. only) -
as well as all private label initiatives.
-- MIVA Small Business, formerly Miva Corporation, will focus on
developing integrated marketing and business solutions based
on the MIVA Merchant e-commerce platform that includes
merchant storefronts, payment processing, logistics management
and professional services.
-- MIVA Direct, formerly Comet Systems, will focus on helping
businesses develop one-to-one relationships with customers by
providing desktop consumer software such as private-branded
toolbars and improve site performance through a suite of
search-related applications.
"Unifying these divisions under the single brand MIVA will help
current and prospective clients more fully understand and appreciate
the complete range of services the Company offers to both large and
small advertisers," said Greg Sterling, program director with the
Kelsey Group. "The new, consolidated brand will also raise the
Company's profile and strengthen its presence in the marketplace."
"As our Company moves forward as a multi-dimensional enterprise
and as we work to take Performance Marketing to the next level, we
believe 'MIVA' better represents our core business vision," said Craig
Pisaris-Henderson, chairman and chief executive officer of MIVA. "MIVA
is inspirational and provides clear focus to our team, advertisers and
partners, as we seek to define the future of Performance Marketing."
Pisaris-Henderson said, "We were also very fortunate that the new
brand takes its name from one of our assets, 'Miva Corporation,'
creator of the popular Miva Merchant storefront development and
management system that we acquired in January 2004." Miva Corporation
will now become the MIVA Small Business division.
"We help businesses grow in three different ways - we help
advertisers grow their customers, we help publishing partners grow
their revenue and we help small-to-medium-size businesses grow online.
This is reflected in our new logo," said Seb Bishop, chief marketing
officer. "The 'a' in the MIVA logo represents one of our core values,
infinite growth." To view the new MIVA logo and the evolution of the
growth symbol please go to www.miva.com.
As part of its strategy to announce its new positioning and
underscore its commitment to its customers and distribution partners,
MIVA is planning a global marketing campaign, covering the U.S., U.K.,
Germany, France, Italy and Spain. The campaign includes print
advertising, online advertising and direct mail. In the U.S., a series
of ads will appear in The New York Times, AdWeek, MediaWeek,
Advertising Age, B-2-B Magazine and DM News beginning June 13, 2005.
One ad highlights MIVA's vision of performance marketing, while
another explains why web publishers should partner with a truly
independent company like MIVA.
"With MIVA, online publishers have a choice of partnering with an
independent Company that remains 'behind the scenes' and focuses on
helping them maximize their Internet real estate, rather than one that
regularly vies for visitors and customers, but is in fact a
competitor," said Bishop. "MIVA is a true strategic partner in every
sense of the word and our marketing will serve to communicate that
powerful message."
The Company anticipates all new products will be released under
the new MIVA brand, and the Company's new website will be available at
http://www.miva.com by the end of June, 2005.
About MIVA(R), Inc.
MIVA is the largest independent Performance Marketing Network,
dedicated exclusively to helping businesses grow. MIVA connects
millions of buyers with millions of sellers at exactly the right place
and time. MIVA delivers qualified leads to advertisers, maximizes
revenue for partners, facilitates commerce for online merchants and
provides relevant information to customers. The Company has
relationships with more than 100,000 customers, spanning North
America, Europe and Asia.
Forward Looking Statements
This press release contains certain forward-looking statements
that are based upon current expectations and involve certain risks and
uncertainties within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Words or expressions such as "plan,"
"intend," "believe" or "expect'" or variations of such words and
similar expressions are intended to identify such forward-looking
statements. These forward-looking statements are not guarantees of
future performance and are subject to risks, uncertainties, and other
factors, some of which are beyond our control and difficult to predict
and could cause actual results to differ materially from those
expressed or forecasted in the forward-looking statements including
without limitation (1) our ability to successfully develop a new brand
image, (2) our ability to successfully execute upon our corporate
strategies, (3) our ability to integrate our recent acquisitions with
our other operations, and (4) our ability to develop and successfully
market new products and services. Additional key risks are described
in FindWhat.com's reports filed with the U.S. Securities and Exchange
Commission, including the Form 10-K/A for fiscal 2004, and the most
recently filed quarterly report on Form 10-Q. FindWhat.com undertakes
no obligation to update the information contained herein.
(R)Registered trademark of MIVA, Inc.