InterSearch Group Launches Banks.com
Enhances Content and Revenue Model of Marquee Personal Finance and Consumer Banking Site
SAN FRANCISCO — 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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