January 16, 2003
FOR IMMEDIATE RELEASE
DEALTIME® EXTENDS LEAD IN SHOPPING SEARCH WITH
RECORD ONLINE HOLIDAY SHOPPING SEASON
Annual Revenues Double, Driving GAAP Profitability
in 2nd Half
New York, NY - DealTime Ltd., the leading shopping
search engine, today reported record revenues for the
fourth quarter and calendar year. Revenues for the record-breaking
holiday shopping season were more than $11 million and
annual revenues were $29 million, exceeding previously
announced estimates and doubling for the third consecutive
year. DealTime also announced that it was profitable
in accordance with generally accepted accounting principles
(GAAP) for the second half of the year.
DealTime ranked as the third most popular online
shopping site throughout December 2002 according to
comScore Media Metrix . Visits to DealTime.com®
more than doubled in 2002, and the site ranked as
a top 10 Internet shopping destination throughout
the year according to Nielsen//NetRatings, attracting
more than 10.5 million US unique visitors in December
"2002 was a break-through year for DealTime,"
said Dan Ciporin, DealTime's Chairman and CEO. "Visits,
customer conversion rates and revenue-per-referral
grew dramatically throughout the year, culminating
in a tremendous gift-buying season. We were very pleased
to be able to provide consumers with the best online
shopping experience and our merchants with so great
a return on their investment."
Key Milestones Met
During 2002, DealTime achieved the following milestones:
· Doubled user visits, shopping searches and
referrals to merchants
· Tripled its merchant base to more than 1,500
online stores, including most online brand leaders.
· Delivered more revenue-per-referral than
the largest portal shopping channel and the leading
paid search provider, according to comScore Networks3
· Delivered more serious shoppers, person-for-person,
than the largest search engines and portal-affiliated
shopping channels, according to Nielsen//NetRatings4
· Delivered an extraordinary 13.3 percent conversion
rate to sale to merchants on DealTime referrals, according
to independent research reported in the Journal at
· Released version 3.0 of its proprietary search
technology, making it virtually effortless to compare
products and merchants online.
· Improved the site user experience by eliminating
pop-up and pop-under advertisements
The company expects further growth and profitability
in 2003, driven by increasing consumer adoption of
online shopping search engines and by DealTime's continued
leadership of the category.
"We will realize increasing revenue by continuing
to provide consumers with the best possible online
shopping experience," continued Mr. Ciporin.
"And we will gain market share by continuing
to providing merchants with the most targeted and
cost-effective means of reaching qualified buyers
on the Web."
DealTime is the world's leading online shopping search
engine, reaching millions of shoppers worldwide every
month. Through its Web sites, dealtime.com®, dealtime.co.uk
and other network sites (including AltaVista, Lycos
and Excite Network), shoppers compare products, prices
and stores across the Web. For merchants and manufacturers,
DealTime delivers qualified, in-market buyers and
lower customer-acquisition costs. For traffic aggregators,
portals and other partner sites, DealTime provides
a powerful search engine and superior shopping tools
that enable them to more easily monetize their traffic.
For consumers, DealTime supplies product information
and an easy way to find the right product at the best
price. DealTime Ltd. is a multi-national private company,
venture-backed by key strategic and financial partners
including Bertelsmann, AOL TimeWarner, Bank of America,
Bain Capital, Singapore Telecom and others.
DealTime, DealTime.com and the DealTime logo are registered
trademarks of DealTime Ltd.
# # #
|The Blueshirt Group, for DealTime
||SVP, Corporate Development
1 comScore Media Metrix: netScore
database December 2002
2 Nielsen/NetRatings shopping destinations report
3 comScore Networks, August 2002
4 Custom research by Nielsen/NetRatings during the
quarter ending November 30, 2002
5 Third-party case study conducted by Marketing Experiments
Journal during November 2002. See http://www.marketingexperiements.com/archives/dealtime.cfm