WEST HOLLYWOOD, Calif. - (March 1st, 2007) - Citysearch, an operating business of IAC (NASDAQ: IACI), today announced that it has agreed to acquire Insider Pages, a leading reviews-based local search company located in Redwood City, California. Terms of the transaction were not disclosed.
Insider Pages helps people find the best local businesses through recommendations from their friends, community, and expert reviewers. The site has more than 600,000 merchant reviews on local businesses in 30 markets across the U.S., and nearly 3 million monthly unique users (comScore Media Metrix, January 2007). Through the acquisition, Citysearch will offer consumers over 1 million user reviews and local market directory information across more than 500 business categories - from restaurants and spas to plumbers and lawyers -- making Citysearch the #1 online provider of user reviews on local businesses.
"User reviews empower consumers to make informed decisions about where to spend their time and money, and our local merchants tell us that they are more likely to acquire a customer when user reviews are included as part of their online listing," said Peter Horan, Chief Executive Officer of IAC Media & Advertising. "Through this acquisition, Citysearch will strengthen our breadth of user-generated content across numerous business categories nationwide. Competitively, no company online or offline offers the depth of content about local markets as Citysearch does, making us the most useful and valuable way for merchants to connect with customers, and for consumers to find exactly what they're looking for. "
"Our valued user community has been extremely important in creating a new online culture of sharing rich and relevant information on local businesses nationwide. By joining forces with Citysearch, we will be able to work together to improve how consumers find local businesses," said Mitch Galbraith, CEO of Insider Pages.
When the acquisition is complete, Insider Pages will retain its distinct brand identity and positioning in the market, strengthening and complementing Citysearch's growing local reach. Insider Pages will move its current operations and team to Citysearch's San Francisco office.
Citysearch is a leading integrated local search, directory and media company that connects consumers and merchants through trusted content, local expertise and user-friendly tools. By delivering trusted content, including user reviews, editorial reviews and ratings on local businesses, Citysearch empowers users to make informed decisions about where to spend their time and money. Through its unique Local Pay For Performance (PFP) service, Citysearch enables businesses to capture their most relevant customers online while paying only for the leads received. Citysearch is both a leading provider of in-depth restaurant information and a local directory on the web, supplying information for every domestic zip code. Citysearch is an operating business of IAC (NASDAQ: IACI). For more information, visit: www.citysearch.com.