FOR IMMEDIATE RELEASE
CNET Networks and Edmunds.com Ally To Transform the Delivery of Automotive Information
Edmunds.com to Extend Auto Industry Meta-Channel Using Proven CNET Tools
SAN FRANCISCO and SANTA MONICA, Calif., Sept. 28 /PRNewswire/ -- CNET Networks, Inc. (Nasdaq: CNET - news), the trusted source of information for buyers, sellers and suppliers, and Edmunds.com, (www.Edmunds.com) the Web's leading resource for unbiased automotive information, today announced that they have entered into a long-term strategic alliance intended to transform the way that automotive information is delivered within the automotive industry.
Along with a financial investment, CNET Networks, and its subsidiaries, CNET Data Services and mySimon, will provide Edmunds.com with proprietary technology to help Edmunds.com further its development as the premier meta- channel for the automotive industry.
As part of the agreement, Edmunds.com will license CNET Data Services' (CDS) proprietary technology to form the foundation of a uniform automotive database containing new and used vehicle pricing, specification and incentive information. CDS is fast becoming the industry standard for information powering the computer and electronics sales and distribution channels. Where standardized, consistent, and reliable information previously did not exist in the automotive industry, Edmunds Data Services (EDS) will now be empowered to provide a universal standard database to vehicle manufacturers and leasing companies.
Also through this alliance, Edmunds.com will become the exclusive provider of automotive content and purchase functionality for CNET Networks-owned mySimon. mySimon's mission is to be the ultimate destination for comparison shopping across multiple categories. This partnership with Edmunds.com will allow it to launch the auto category during the fourth quarter of 2000.
Additionally, CNET Network's CEO, Shelby Bonnie, will join the Board of Directors of Edmunds.com.
"CDS now has more than 100 worldwide site licenses for its Transactive Product Data(TM) and it catalogs more than 400,000 products," said Shelby Bonnie, CEO of CNET Networks, Inc. "The success of CDS in the technology category is evidence that standardized, detailed product information is the power behind commerce. Our partnership with Edmunds.com is designed to help them create a similar standard for the automotive industry."
"As one of the most established and innovative Internet companies, CNET has validated the concept that content powers marketplaces," said Peter Steinlauf, president and CEO of Edmunds.com. "Using CNET's tested business practices and expertise will help us quickly and efficiently move our business forward, guided by CNET's proven success."
About CNET Data Services (CDS)
CNET Data Services (CDS), http://www.cnetdata.com, is the industry standard for information powering the computer and electronics sales and distribution channels. CDS now has more than 100 site licenses worldwide for the database. The service catalogs more than 400,000 product SKUs worldwide, and continues to add thousands more each week. CDS' multi-lingual functionality, which currently includes up to 16 languages and 23 countries, enables customers to deliver locally focused information on a global scale.
About CNET Networks, Inc.
CNET Networks, Inc. (Nasdaq: CNET - news), is the trusted source of information for buyers, sellers, and suppliers around the world. CNET Networks, Inc. is a platform for two Internet brands, a computer product database, and television and radio programming for people and businesses. CNET, www.cnet.com, is an indispensable source of knowledge about computers, the Internet and technology, serving millions of users each day. CNET's Web content has been localized for nine Asia Pacific markets: Hong Kong, Singapore, Malaysia, Japan, Korea, China, Taiwan, Australia and India. CNET's award-winning television and radio programs are broadcast in 100 countries worldwide, as well as on CNBC and other national distribution in the U.S. mySimon, www.mysimon.com, offers its users a valuable online buying guide that covers more than 200 categories and over 2000 merchants. CNET Data Services is the primary provider of information powering the computer and electronics sales and distribution channels. CNET Networks, Inc. currently has investments in cash and marketable securities valued at more than a half-billion dollars.
Headquartered in Santa Monica, CA, Edmunds.com (http://www.edmunds.com) is the Internet's pioneer and leader in providing free, third party automotive information, tools and services for consumers. Edmunds.com empowers, educates, and engages visitors by providing them with straightforward information on key aspects of buying, selling, and owning a vehicle. Users are provided automobile pricing data, extensive automobile reviews, consumer information, safety updates, incentive and rebate news, expert analysis of developments in the automotive world, and the Town Hall, an interactive community of more than 500,000 active members. Edmunds.com was ranked number one in the Survey of Car-Shopping Web Sites as reported by The Wall Street Journal, rated number one automotive and second overall web site in the Dialscore loyalty study above Yahoo!, Amazon and Mapquest, was named as one of Yahoo! Internet Life's 50 Most Incredibly Useful Sites, one of Money's 50 Most Useful Financial Websites, and is regularly mentioned as a valuable resource in these and other publications.
SOURCE: CNET Networks, Inc.; Edmunds.com