InterSearch Group Launches Banks.com
April 02 2007 - 8:45AM
Business Wire
InterSearch Group, Inc. (AMEX: IGO), a leading operator of industry
specific destination portals and provider of Internet search
services announced today that it has rolled out the enhanced
edition of its marquee personal finance online property,
www.Banks.com. Banks.com is an online consumer finance marketplace
aggregating information on a broad range of products and fees
including: mortgages, credit cards, auto loans, college financing,
debt management, retirement, and more. The online property now also
features a wealth of resources and advice on personal finance
topics in a convenient user format. Banks.com generates revenues
through a hybrid model combining pay-per-click and affiliate
arrangements with advertisers and paid search. �We acquired
Banks.com in September 2006 to create a preeminent online consumer
banking one-stop marketplace built around a domain name that is
synonymous with that offering. We�ve now completed the initial
stage of its integration into our business platform,� said Dan
O�Donnell, Chairman and CEO of InterSearch Group. �We are already
seeing a sharp increase in traffic to the site and click through
rates, further validating our strategy of locating attractive
acquisition targets and transforming them into successful online
businesses.� After acquiring the property in 2006, InterSearch
Group undertook a number of initiatives aimed at making Banks.com
more attractive to online users, including enhancement of content,
the addition of loan calculators and better usability. InterSearch
Group also integrated the site into its network of advertising and
paid search partnerships. Continued Dan O�Donnell, �The
high-quality content and relevant advertisements drive traffic to
Banks.com through free inclusion in algorithmic search as well as
paid search initiatives whereby our partners direct traffic to us
in order to leverage our premier advertising relationships. We are
confident that Banks.com will become the preferred destination for
personal finance and consumer banking, generating meaningful
revenue for our company.� Financial Services is the largest
Internet advertising vertical constituting about 12% of overall
online advertising. According to eMarketer, online ad spend by
financial services firms is expected to grow at a compound annual
growth rate of 18 percent through 2010. InterSearch Group expects
to leverage favorable market trends and believes that Banks.com
will be a material revenue contributor in 2007 and beyond. About
InterSearch Group, Inc. InterSearch Group is a leading operator of
industry specific destination portals and provider of Internet
search services through a combination of traffic aggregation and
proprietary websites, such as www.Banks.com, www.IRS.com and
www.Camps.com. InterSearch Group operates in the fastest growing
segments of Internet commerce including paid search, direct
navigation and online marketing driving high quality traffic to
advertisers and providing users with quick access to pertinent
products and services. Through its corporate services division,
InterSearch Group also provides Internet technology related
professional services to large corporations, predominantly in the
Financial Services industry. InterSearch Group is headquartered in
San Francisco, California at 222 Kearny Street, Suite 550, and can
be reached via telephone at 415-962-9700. More information about
InterSearch Group can be found at: www.intersearch.com. Forward
Looking Statements This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 that involve substantial risks and
uncertainties, including statements regarding our expected
financial results for the fourth quarter of 2006. Forward-looking
statements, which are based on management�s current expectations,
are generally identifiable by the use of terms, such as
�anticipates,� �believes,� �could,� �estimates,� �expects,�
�intends,� �may,� �plans,� �possible,� �potential,� �predicts,�
�projects,� �should,� �would� and similar expressions. The
forward-looking statements in this press release including
statements regarding: our strategy of locating attractive
acquisition targets and transforming them into successful online
businesses; our belief that Banks.com can become the preferred
destination for personal finance and consumer banking, generating
meaningful revenue; the expected growth rate of online ad spend by
financial services firm; our expectations to leverage favorable
market trends; and our belief that Banks.com will be a material
revenue contributor in 2007 and beyond. The potential risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied herein include, among others,
inability to successfully develop and integrate newly acquired
domains; lack of acceptance of the banks.com business model by
consumers; unanticipated slowdown in the financial services
vertical; slower than anticipated growth rate of online ad spend;
and dependence on our search providers, as well as those risks and
uncertainties included in our SEC filings, including our Annual
Report on Form 10KSB for the year ended December 31, 2006 under the
heading �Management�s Discussion and Analysis or Plan of Operation�
and our Current Reports on Form 8-K. Except as required by law, we
assume no obligation to update these forward-looking statements
publicly, even if new information becomes available in the future.
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