TO ALL: Here is why CMGI and Lycos are moving UP!
Thursday January 15, 5:02 am Eastern Time
Company Press Release
Lycos enters into $16M Agreement with cybermeals
Local Restaurants Join the Lycos Community Through cybermeals, Adding
Restaurant Takeout and Delivery Services Online
FRAMINGHAM, Mass & SEATTLE--(BUSINESS WIRE)--Jan. 15, 1998-- Lycos,
Inc., ''Your Personal Internet Guide,'' and cybermeals, the world's
largest online restaurant ordering system, today announced a new
marketing and commerce agreement which will make cybermeals the
exclusive online restaurant takeout and delivery service on Lycos'
Shopping Network.
Throughout the duration of the four-year agreement, restaurant ordering
options will be integrated throughout the Lycos site, including areas
such as the Lycos Shopping Network and Lycos City Guides. Lycos will
receive guaranteed payment from cybermeals, along with a percentage of
revenues.
Lycos users will now be able to choose from more than 11,000 restaurants
nationwide for ordering takeout or delivery online quickly and easily
through the cybermeals network of restaurants. The ease and convenience
of this service is available free of charge, and offers Lycos users the
ability to locate restaurants in their own neighborhoods, and order from
full menus and specials as far as three months in advance.
cybermeals integrates a comprehensive restaurant database with
large-scale geo-positioning software, Apple's WebObjects, MapQuest data
and other proprietary technology to bring customers fast access to
participating restaurants in their own areas.
Tim Glass, co-founder, president, and chief executive officer of
cybermeals, said ''With the exponential growth of the Internet, online
ordering of takeout and delivery meals is the natural evolution to phone
and fax orders. With recent research showing that 60% of Internet users
are willing to order meals online (USA TODAY/Intelliquest Scoring the
Web survey), our partnership with Lycos offers cybermeals the
opportunity to reach millions of hungry consumers through one of the
premiere and most trafficked sites on the Internet.''
''Lycos continues to increase its attraction to the mainstream consumer,
as evidenced by our broad advertiser base which now includes
approximately 80% consumer brands,'' stated Jeff Crown, vice president
of business development. ''The Lycos service will continue to expand so
that Lycos can have a more dramatic impact, a top-of-mind presence, on
consumers? everyday lives. The cybermeals offering is a perfect
complement to our business strategy, as it drives e-commerce revenues,
and offers a fabulous prepared food delivery service to both
professionals at work, and consumers at home to make their lives
easier.''
About Lycos, Inc. (http://www.lycos.com)
Founded in 1995, Lycos, Inc. (NASDAQ: LCOS - news) is a free, global
Internet navigation and community network located at
lycos.com  . Lycos -- ''Your Personal Internet Guide'' -- is
dedicated to helping each online user locate, retrieve and manage
information tailored to his or her individual interests by providing
ease-of-life information tools to enrich each online experience.
Headquartered in Boston, Mass., Lycos maintains U.S. offices in New York
City, Pittsburgh and San Francisco, and international offices in
Germany, Italy, France, the U.K., Spain, Belgium and The Netherlands.
CMG Information Services, Inc. (NASDAQ: CMGI - news) is a majority
shareholder in Lycos, Inc. through its strategic investment and
development business unit, CMG@Ventures. CMGI is a leading provider of
direct-marketing services investing in and integrating advanced
Internet, interactive media and database management technologies.
About cybermeals (http://www.cybermeals.com)
cybermeals, the world's largest online ordering system, offers consumers
the opportunity to order takeout or delivery meals from restaurants in
their neighborhood free of charge. Since its December 1996 beta test in
Boston, New York, San Francisco and Seattle, the service has become
available nationwide, with more than 11,000 restaurants under contract
and plans to expand internationally in 1998. cybermeals has been named
the exclusive online ordering service for both America Online, Inc., the
nation's largest Internet service provider, and Excite, a leading online
service, and has been exclusively endorsed by the National Association
of Pizza Operators and the Restaurant Delivery Services Association for
online ordering for their respective members. |
