HSW International Reports Increased Sharecare Value
June 16 2011 - 7:00AM
HSW International, Inc. (Nasdaq:HSWI), a leading developer and
operator of next-generation web publishing platforms combining
traditional web publishing with social media, has been informed
that Sharecare, Inc. has completed the sale of approximately 39,467
shares of preferred stock to an unrelated third party at a total
value of $8,750,000.
HSW International, a founding partner of Sharecare, owns shares
of common stock representing approximately 12% of Sharecare on a
fully diluted basis following this sale of equity. Based upon the
value of Sharecare established with the above-mentioned sale of
preferred equity, HSW International's ownership position in
Sharecare would be valued at approximately $28 million. As
previously disclosed, HSW International holds an option to increase
its ownership in Sharecare to a total of approximately 13% on a
fully diluted basis, which if exercised would result in its
ownership position in Sharecare being valued at approximately $31
million.
Launched in 2010 and based in Atlanta, GA, Sharecare's mission
is to greatly simplify the search for high-quality healthcare
information and answer the world's questions of
health. Sharecare was co-founded by Discovery Communications,
Dr. Mehmet Oz, Harpo Studios, HSW International, Jeff Arnold, and
Sony Pictures Television. HSW International provided the
technology development services to help create a Web 3.0 platform
for Sharecare featuring interactive question & answer based
content.
About HSW International
HSW International, Inc. (Nasdaq:HSWI) is a leading developer and
operator of next-generation web publishing platforms combining
traditional web publishing with social media. The company's Web 3.0
platform is revolutionizing the way people search and exchange
information over the Internet. HSW International's Web 3.0 platform
powers Sharecare, which provides a simple, easy way for consumers
to get high quality answers to the questions of health, provided by
trusted experts. HSW International is a co-founder of Sharecare
along with Dr. Mehmet Oz, Harpo Productions, Discovery
Communications, Sony Pictures Television and Jeff Arnold, the
founder of WebMD. HSW International is currently developing other
content areas that lend themselves to the Web 3.0 platform. HSW
International is also the exclusive licensee in China and Brazil
for the publication of translated content from Discovery
Communications' HowStuffWorks.com. For more information visit the
company's website at www.hswinternational.com.
Forward-Looking Statements
This press release contains "forward-looking statements," as
defined in Section 27A of the Securities Act of 1993, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements may be in the future tense, and often
include words such as "anticipate", "expect", "project", "believe",
"plan", "estimate", "intend", "will" and "may". These statements
are based on current expectations, but are subject to certain risks
and uncertainties, many of which are difficult to predict and are
beyond the control of HSW International. Relevant risks and
uncertainties include those referenced in HSW International's
filings with the SEC, and include but are not limited to: our
losses and potential need to raise capital; risks of Sharecare's
business and valuation, and illiquidity of HSWI's ownership in
Sharecare; successfully supporting the Sharecare platform; reliance
on third parties such as our largest shareholder Discovery
Communications, as well as Sharecare and its other founders and
contributors; restrictions on intellectual property under
agreements with Sharecare and third parties; challenges inherent in
developing an online business; reliance on key personnel; risks of
business in foreign countries, notably China and Brazil, including
obtaining regulatory approvals and adjusting to changing political
and economic policies; governmental laws and regulations, including
unclear and changing laws and regulations related to the internet
sector in foreign countries, especially China; general industry
conditions and competition; and general economic conditions, such
as advertising rate, interest rate and currency exchange rate
fluctuations. These risks and uncertainties could cause actual
results to differ materially from those expressed in or implied by
the forward-looking statements, and therefore should be carefully
considered. HSW International assumes no obligation to update any
forward-looking statements as a result of new information or future
events or developments, except as required by law.
CONTACT: Investor Relations Contact:
Stephanie Prince/Jody Burfening
Lippert/Heilshorn & Associates
T: 212-838-3777
sprince@lhai.com
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