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FindWhat to Purchase Miva
Posted on September 3, 2003
FindWhat to Purchase
FindWhat.com to Purchase Miva Corporation
September 3, 2003 -- Pay-Per-Click
(PPC) search engine FindWhat.com (findwhat.com) said
today it planned to acquire Miva Corporation, a provider
of online merchant services to small and medium-sized
businesses.
FindWhat.com said it intends to purchase
the firm for $5.5 million, plus the assumption of approximately
$2.5 million in notes and other liabilities.
The company said the move was the
first step in an effort to help small businesses not
only locate customers, but retain them as well. FindWhat.com
also said it believed the combination could provide
more opportunities to Miva's Web hosting partners, as
Miva has signed up more than 1,100 hosting and technology
firms to offer its products to clients.
According to FindWhat, Miva has a
base of over 70,000 registered users for its Miva Merchant
product, and over 85,000 storefront registrations. The
company has added approximately 2,000 new merchant registrations
per month over the past 24 months.
FindWhat.com currently has a base
of 25,000 active advertisers that pay for targeting
Web site traffic on a per-click basis. FindWhat.com's
distribution network includes CNET's Search.com, Excite,
Webcrawler, MetaCrawler and Dogpile. In June, the company
announced plans to merge with Espotting Media Inc.,
a popular European PPC search engine.
PPC advertising
opportunities have become a popular value-added service
among Web hosting firms this summer. Both Interland
and 1&1 Internet recently introduced promotions
that offer credit with Google's AdWords product, another
popular PPC system.
Editor Note: Miva has been dodging
bankruptcy for over two years now. With FindWhat's continued
failing business model, it is recommended that if your
site is using Miva Merchant that you switch providers.
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