JuiceBoxJungle’s Mommy Blog Network Reaches As Many As 10 Million Online Users On Nearly Half Of The Nielsen Power 50 Mom Blog Sites
SAN FRANCISCO, CA - December 14, 2009 - Betawave (OTCBB:BWAV), the online media network that delivers highly attentive audiences to brand marketers, today announced JuiceBoxJungle has joined Betawave’s network as its newest publisher. JuiceBoxJungle is a new media network that uses highly-acclaimed original content running on a network of over 350 Mommy blogs to reach millions of Moms ages 25-44.
Betawave’s overall portfolio of websites reaches more than 30 million unique users monthly. JuiceBoxJungle’s addition bolsters Betawave’s women-focused and social media offering - the Betawave Lifestyle channel - to reach over 15 million people monthly. This is a 90% month-over-month growth rate.
Entertainment Weekly dubbed JuiceBoxJungle’s humorous, hip original content as “Sex and the City…with kids!” The company offers an online advertising unit - the “JuiceBox” - which integrates high-production video content and social ads, such as polls, e-cards and Facebook feeds, with brand messaging and standard media. Betawave will be JuiceBox’s exclusive outside sales representative for their advertising which will be displayed across the 350-strong Mommy blogs that form the Jungle Ad Network.
“We’re impressed that JuiceBoxJungle’s original content has managed to capture the voice of today’s modern Mom in a humorously honest and engaging manner,” said Tabreez Verjee, President of Betawave. “The JuiceBox ad units are an immediate and natural way for brands to interact with Moms. Betawave’s experience in delivering high attention media will further enhance the JuiceBox offering. This partnership is a major step towards our goal of being the leading digital media company for brand advertisers looking to capture the attention and build relationships with Moms 25-54.”
“The notion that people don’t want to deal with ads, but rather want to consume great content, is well understood”, said Philippa Smith, CEO of JuiceBoxJungle. “With this in mind, our interactive media unit distributes fresh original content across an influential group of top bloggers and actively engages viewers in social actions that involve the brand. Betawave is the perfect partner for us, as they not only have a strong offering of mom focused publishers, but they are also the industry experts in creating and selling high engagement media like ours.”
JuiceBoxJungle’s network has the potential to reach 10 million online users and is comprised of top Mommy blogs including almost half the Nielsen Power 50 blogs.
About JuiceBoxJungle
A highly acclaimed content brand, JuiceBoxJungle (JBJ) has now created a new type of online advertising unit, the “JuiceBox”, which turns ads into engaging content. The JuiceBox widget seamlessly integrates high quality video content and social ads (such as polls, ecards, Facebook feeds and more) with brand messaging and standard media.
The JuiceBox widget is prominently displayed on over 350 of the top mom blogs, forming the Jungle Ad Network. JBJ’s network has the potential to reach 10 million online users, and is comprised of top mommy blogs across categories, including almost half the Nielsen Power 50 blogs. For even greater engagement, brands combine the messaging in the JuiceBox with sponsored blog posts, or “Blog Fodder” about their product, making JBJ’s marketing solution a market-first.
For more information about JuiceBoxJungle, please contact:
Sarah Eisner
Chief Marketing Officer
sarah@juiceboxjungle.com
(650) 867-9450
About Betawave Corporation:
Betawave Corporation (OTCBB: BWAV) is an online media network that delivers highly attentive audiences online. The company reaches over 30 million U.S. unique users in high quality editorial environments. Betawave’s publishers are leading mid-tail publishers that capture substantial time spent per user each month.* The Betawave network of sites ranks at or near the top in total audience reach and time spent across the relevant demographics in five key categories: Teens, Kids Entertainment, Games, Lifestyles and Parenting. (*Source: comScore, November 2009.) Betawave is headquartered in San Francisco with sales offices in New York, Los Angeles and Chicago.
For more information about Betawave, please contact:
Stephanie Yang
PR Director
stephanie@betawave.com
(415) 978-3025
NEW YORK CITY, NY - November 23, 2009 - Betawave http://www.betawave.com/ (OTCBB: BWAV), the online media network that delivers highly attentive audiences to brand marketers, today announced the appointment of Mark Oltarsh, former Vice President and Group Publisher of Bauer Publishing’s In Touch Weekly and Life & Style magazines, as the company’s new chief revenue officer, reporting to the CEO Matt Freeman. Oltarsh will be responsible for organizing Betawave’s sales force and introducing Betawave’s products and publishers to untapped brand marketers and agencies.
Oltarsh brings to Betawave more than 10 years of sales and revenue experience, particularly in the publishing world. At Bauer Publishing and specifically for In Touch Weekly, the fastest growing magazine in the country, he increased ad revenue by over 150% over a three-year period. Prior to that, Oltarsh rose rapidly to sales leadership at Spin, Conde Nast’s Details and Vanity Fair, and Dennis Publishing’s Stuff and Maxim. His past two sales positions included responsibility for all digital revenue and major media deals in broadcast and print.
“We are delighted to welcome Mark to the company,” said Matt Freeman, CEO of Betawave. “He has a successful track record of taking on underdog businesses and challenger brands with strong points of view, consistently leading them to tremendous results. Mark’s passion for Betawave and excitement about our future make him a great addition.”
“I’m inspired to be joining the team, helping Betawave continue on its growth path,” said Mark Oltarsh. “In its mission to deliver the most attentive audiences to brands, Betawave has proven to me that its immersive ad campaigns transform natural audience attention into measureable brand engagement.”
Oltarsh will be based in the New York office.
For more information about Betawave, please contact:
Stephanie Yang
PR Director
415-738-8706
stephanie@betawave.com
September 9, 2009 - Betawave Corporation (OTCBB: BWAV, www.betawave.com), a media company that delivers the most attentive audiences online to brand marketers, is announcing its speaking engagements for the month of September.
In the first of its kind, Betawave will be hosting a panel called “Attention Convention” at this year’s Advertising Week in New York City. The inaugural event plans to be the first in a series of penetrating discussions about the pursuit of consumer attention in today’s media-saturated world through the lens of science, art and business. Some of the most successful purveyors of attention in the fields of entertainment, marketing and media, all on one stage, will share how they consistently earn consumer attention in their respective fields. Speakers include:
The “Attention Convention” takes place on Thursday, September 24th at The Times Center, NY.
Advertising Week is a week-long industry festival taking place in New York City every September. Here, the industry’s most influential and cutting-edge thinkers gather together and prognosticate about the future of online advertising.
Betawave’s CEO Matt Freeman will be speaking at the ROTH Media and Software Investor Event in New York City on an executive panel entitled The Evolution of Online Advertising moderated by Senior Research Analyst, Richard Ingrassia. Other panelists include Wenda Harris Millard, President of MediaLink, and former co-CEO and President, Martha Stewart Living Omnimedia; and Bant Breen, President of Initiative Media.
The ROTH panel takes place on Wednesday, September 16th at The Westin at Times Square, NY.
About Betawave Corporation:
Betawave Corporation (OTCBB:BWAV) is a digital media company that delivers the most attentive audiences online. The company reaches more than 32 million unduplicated online users domestically* in high quality editorial environments. Betawave’s publishers are leading mid-tail publishers that capture substantial time spent per user each month. Betawave works with its publishers to create advertising opportunities within the content that highly engages their audiences. The Betawave portfolio of publishers ranks at or near the top in total audience reach and time spent across the relevant demographics in five key categories: Teens, Kids Entertainment, Games, Lifestyles and Parenting. (*Source: comScore Media Metrix, June 2009, Unduplicated Audience.) Betawave is headquartered in San Francisco and New York with sales offices in Los Angeles and Chicago.
For more information about Betawave, please contact:
Stephanie Yang
PR Director
415-738-8706
stephanie@betawave.com
The Reincorporation will not result in any changes in the assets, operations or management of the Company. The Company will continue trading, uninterrupted, under its current ticker symbol ‘BWAV’ on the over-the-counter bulletin board and will retain its current CUSIP number. Stock certificates currently held by the Company's stockholders represent ownership of the same number of shares of the Delaware corporation (and the same percentage ownership of the company) as they had represented in the Nevada corporation prior to the reincorporation. Stockholders do not need to exchange their stock certificates for new stock certificates, but they may elect to do so. Stockholders interested in exchanging their stock certificates should contact the company’s transfer agent at: Continental Stock Transfer & Trust Company, 17 Battery Place, New York, NY 10004. Telephone: 212.509.4000; Fax: 212.509.5150, e-mail: cstmail@continentalstock.com.
“In less than two years, Betawave has grown to become the leading online company in terms of reach when compared to kids sites and number two in terms of time spent with women and moms when compared to lifestyles sites,” said Matt Freeman, CEO of Betawave. “As the company continues to grow, we felt it was time to avail ourselves of the highly developed and predictable Delaware corporate legal system and our shareholders were enthusiastic about this change.”
Betawave Corporation (www.betawave.com) (OTCBB:BWAV) is a digital media company that delivers the most attentive audiences online. The company reaches 33.5 million unduplicated online users domestically* in high quality editorial environments. Betawave’s publishers are leading mid-tail publishers that capture substantial time spent per user each month. Betawave works with its publishers to create advertising opportunities within the content that highly engages their audiences. The Betawave portfolio of publishers ranks at or near the top in total audience reach and time spent across the relevant demographics in five key categories: Teens, Kids Entertainment, Games, Lifestyles and Parenting. (*Source: comScore Media Metrix, August 2009, Unduplicated Audience.) Betawave is headquartered in San Francisco and New York with sales offices in Los Angeles and Chicago.
Safe Harbor Statement
This press release may contain forward-looking statements that involve risks and uncertainties, such as statements of Betawave’s plans, objectives, expectations and intentions. Forward-looking statements are generally identified by words, such as “projects,” “believes,” “anticipates,” “plans,” “expects,” “will,” and “would,” and similar expressions that are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results, performance or achievements of Betawave to be materially different from those expressed or implied by forward-looking statements. Actual events may differ materially from those mentioned in these forward-looking statements because of a number of risks and uncertainties. Discussion of factors affecting Betawave’s business and prospects is contained in Betawave’s periodic filings with the Securities and Exchange Commission, including Betawave’s Quarterly Report on Form 10-Q for the three months ended June 30, 2009, is on file with the Securities and Exchange Commission. Betawave undertakes no obligation to publicly update or revise any forward-looking statements or to make any other forward-looking statements, whether as a result of new information, future events or otherwise unless required to do so by the securities laws. Investors are cautioned that forward-looking statements are not guarantees of future performance and that undue reliance should not be placed on such statements.
Contact:
Stephanie Yang
PR Director
415-738-8706
stephanie@betawave.com
SAN FRANCISCO, CA - August 14, 2009 - Betawave Corporation (OTCBB: BWAV, www.betawave.com), the first attention-based digital media company, with a domestic reach of over 32 million unique users per month,* reported its results for the quarter ended June 30, 2009 today.
Company Highlights Highlights from the second quarter of 2009 include:
Total revenues increased 78% to $2,282,325 for the three months ended June 30, 2009 from $1,282,439 for the second quarter of 2008.
With the addition of several new publishers, the size of the Betawave Network grew to over 32 million domestic unique users per month. When ranked against the online properties in comScore Media Metrix, Betawave now places first in reach and in time spent in the Kids-Entertainment category and first in time spent and second in reach in the Family and Parenting-community and Lifestyles-community categories.*
Management Comment, Matt Freeman, CEO of Betawave
“Betawave offers brands the value and unduplicated reach of an ad network with the engagement and results of a premium branded publisher. Our impact advertising solutions for brand advertisers continue to outperform the competition and are drawing some of the largest advertisers in the world.”
*The following summarizes certain selected financial data of Betawave. *
| SELECTED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS DATA | For the Three Months Ended | |
| June 30, 2009 | June 30, 2008 | |
| Revenues | $2,282,325 | $1,282,439 |
| Total costs of revenues and expenses | $4,907,427 | $4,072,046 |
| Net loss | $(2,581,790) | $(3,562,052) |
| Net loss per share - basic and diluted | $(0.09) | $(0.14) |
| SELECTED CONDENSED CONSOLIDATED CASH FLOWS DATA | For the Six Months Ended | |
| June 30, 2009 | June 30, 2008 | |
| Net cash used in operating activities | $6,967,931 | $2,820,055 |
| Net cash used in investing activities | $74,049 | $566,810 |
| Net cash provided by financing activities | $914,421 | $2,754,949 |
| SELECTED CONDENSED CONSOLIDATED BALANCE SHEETS DATA | As of | |
| June 30, 2009 | December 31, 2008 | |
| Current Assets | $8,512,185 | $15,933,086 |
| Total Assets | $8,874,840 | $16,282,563 |
| Total Current Liabilities | $3,832,991 | $5,796,969 |
| Total stockholders’ equity | $5,041,849 | $10,485,594 |
| Total liabilities and stockholders’ equity | $16,282,563 | |
The financial statement information set forth in this press release should be read in conjunction with Item 2, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the unaudited consolidated financial statements and related notes thereto included in Betawave’s Quarterly Report on Form 10-Q for the three months ended June 30, 2009, which is expected to be filed today with the Securities and Exchange Commission (“SEC”) and will be available for review on the SEC’s website at www.sec.gov and Betawave’s Annual Report on Form 10-K for the fiscal year ended December 31, 2008 filed with the SEC on March 31, 2009.
Betawave Corporation (www.betawave.com) (OTCBB:BWAV), headquartered in San Francisco and New York with sales offices in Los Angeles and Chicago, is an attention-based digital media company that delivers more than 32 million unduplicated online users domestically* in high quality editorial environments. Betawave’s publishers are leading mid-tail publishers that capture substantial time spent per user each month. Betawave works with its publishers to create advertising opportunities within the content that highly engages their audiences. The Betawave portfolio of publishers ranks at or near the top in total audience reach and time spent in several key categories: Kids-Entertainment, Lifestyles-community and Parenting-community. *Source: comScore Media Metrix, July 2009, Unduplicated Audience.
*Safe Harbor Statement * This press release may contain forward-looking statements that involve risks and uncertainties, such as statements of Betawave’s plans, objectives, expectations and intentions. Forward-looking statements are generally identified by words, such as “projects,” “believes,” “anticipates,” “plans,” “expects,” “will,” and “would,” and similar expressions that are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results, performance or achievements of Betawave to be materially different from those expressed or implied by forward-looking statements. Actual events may differ materially from those mentioned in these forward-looking statements because of a number of risks and uncertainties. Discussion of factors affecting Betawave’s business and prospects is contained in Betawave’s periodic filings with the Securities and Exchange Commission, including Betawave’s Quarterly Report on Form 10-Q for the three months ended June 30, 2009, which is expected to be filed today with the Securities and Exchange Commission. Betawave undertakes no obligation to publicly update or revise any forward-looking statements or to make any other forward-looking statements, whether as a result of new information, future events or otherwise unless required to do so by the securities laws. Investors are cautioned that forward-looking statements are not guarantees of future performance and that undue reliance should not be placed on such statements.
Contact:
Betawave Corporation
David Lorie, 415-738-8706 (Investor Relations)
General Counsel
SAN FRANCISCO, CA - May 12, 2009 - Betawave Corporation (OTCBB: BWAV, www.betawave.com), the first attention-based digital media company, with a domestic reach of over 30 million unique users,* reported its results for the quarter ended March 31, 2009 today. The company’s continued growth follows its rebranding campaign launched in January 2009.
Betawave began as an alternative to the traditional youth destination sites with a focus on addressing one of the most pressing issues in online advertising today: While most digital media offers a choice between mass scale or deep engagement (e.g. portals or niche publishers), success in online advertising for most major brands requires both mass scale and deep engagement. Betawave is specifically designed to answer this challenge for major brands by providing a combination of mass scale and deep engagement. This is accomplished by offering solutions for brands that focus on context, emotional connections with consumers, and the currency of time, not impressions, as the basis for advertising. After expanding its demographic focus to include moms during 2008, in January of this year, Betawave launched a rebranding campaign and expanded its demographic focus to include all women with key additions to its publisher portfolio.
Other highlights from the first quarter of 2009 include:
Total revenues increased 111% to $1,388,420 for the three months ended March 31, 2009 from $657,150 for the first quarter of 2008.
With the addition of several new publishers, the size of the Betawave Network grew to 30 million unique domestic users per month for March 2009. When ranked against the networks and properties in comScore Media Metrix, Betawave now places first in reach to Kids and Parents, first in time spent with Moms and third in Entertainment for 18-34 year olds.*
Management Comment, Matt Freeman, CEO of Betawave
“Betawave offers brands a new solution; based not just on how many people we reach, but on how much interest we generate. Finding places to buy advertising inventory online is not difficult in a medium with virtually limitless inventory. Finding places to buy attention, however, is not easy - especially at a level of scale that brands require. We deliver key audiences at scale, and the market is responding favorably to what we offer.”
The following summarizes certain selected financial data of Betawave.
| CONSOLIDATED STATEMENTS OF OPERATIONS DATA | For the Three Months Ended | |
| March 31, 2009 | March 31, 2008 | |
| Revenues | $1,388,420 | $657,150 |
| Total costs of revenues and expenses | $5,806,599 | $4,272,216 |
| Net loss | $(4,413,667) | $(4,179,398) |
| Net loss per share - basic and diluted | $(0.15) | $(0.17) |
| CONSOLIDATED CASH FLOWS DATA | For the Three Months Ended | |
| March 31, 2009 | March 31, 2008 | |
| Net cash used in operating activities | $4,647,942 | $641,002 |
| Net cash used in investing activities | $18,520 | $561,606 |
| Net cash provided by (used in) financing activities | $(85,579) | $210,000 |
| CONSOLIDATED BALANCE SHEETS DATA | As of | |
| March 31, 2009 | December 31, 2008 | |
| Current Asset | $9,470,302 | $15,933,086 |
| Total Assets | $9,894,218 | $16,282,563 |
| Total Current Liabilities | $2,978,375 | $5,796,969 |
| Total stockholders’ equity | $6,915,843 | $10,485,594 |
| Total liabilities and stockholders’ equity | $9,894,218 | $16,282,563 |
The financial statement information set forth in this press release should be read in conjunction with Item 2, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the unaudited consolidated financial statements and related notes thereto included in Betawave’s Quarterly Report on Form 10-Q for the three months ended March 31, 2009, which was filed today with the Securities and Exchange Commission (SEC) and is available for review on the SEC’s website at www.sec.gov.
*Source: comScore Media Metrix, March 2009, Unduplicated Audience. Rankings based on the following categories: Kids, Lifestyle, Family and Parenting and Entertainment.
Betawave Corporation (www.betawave.com) (OTCBB:BWAV), headquartered in San Francisco and New York with sales offices in Los Angeles and Chicago, is an attention-based digital media company that delivers more than 30 million unduplicated online users domestically* in high quality editorial environments. Betawave’s publishers are leading mid-tail publishers that capture substantial time spent per user each month. Betawave works with its publishers to create advertising opportunities within the content that highly engages their audiences. The Betawave portfolio of publishers ranks at or near the top in total audience reach and time spent across the relevant demographics in five key categories: Teens, Kids, Games, Lifestyles and Parenting.
*Source: comScore Media Metrix, March 2009, Unduplicated Audience.
Safe Harbor Statement
This press release may contain forward-looking statements that involve risks and uncertainties, such as statements of Betawave’s plans, objectives, expectations and intentions. Forward-looking statements are generally identified by words, such as “projects,” “believes,” “anticipates,” “plans,” “expects,” “will,” and “would,” and similar expressions that are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results, performance or achievements of Betawave to be materially different from those expressed or implied by forward-looking statements. Actual events may differ materially from those mentioned in these forward-looking statements because of a number of risks and uncertainties. Discussion of factors affecting Betawave’s business and prospects is contained in Betawave’s periodic filings with the Securities and Exchange Commission, including Betawave’s most recent Quarterly Report on Form 10-Q for the three months ended March 31, 2009 filed with the Securities and Exchange Commission on May 12, 2009. Betawave undertakes no obligation to publicly update or revise any forward-looking statements or to make any other forward-looking statements, whether as a result of new information, future events or otherwise unless required to do so by the securities laws. Investors are cautioned that forward-looking statements are not guarantees of future performance and that undue reliance should not be placed on such statements.
Contact:
Betawave Corporation
David Lorie, 415-738-8706 (Investor Relations)
General Counsel
SAN FRANCISCO, CA - March 31, 2009 - Betawave Corporation (OTCBB: BWAV, www.betawave.com), the first attention-based digital media company, with a domestic reach of over 25 million unique users*, reported its results for the year ended December 31, 2008 and announced a 270% increase in total revenues compared to the year ended December 31, 2007.
Betawave made tremendous strides during what was a challenging year and an extremely difficult fourth quarter for many companies. Significant achievements during 2008 included the official launch of its digital publisher network in February, the midyear hiring of prominent ad industry exec, Matt Freeman, as CEO, and the closing of a $22.5 million financing in December. Financial metrics also trended positively. Highlights are:
Total revenues increased 270% to $7,701,599 for the year ended December 31, 2008 from $2,081,182 for the previous year. Total revenue in the fourth quarter increased 7% from the prior quarter despite the severe downturn in the economy.
The size of the Betawave Network grew to 25 million unique domestic users per month at the end of 2008. According to comScore ratings for February 2009, Betawave ranked #2 in the Kids Entertainment category, behind Viacom/Nickelodeon. Betawave also performed exceptionally well against women and moms as compared to the top competitors in the Lifestyles category, rivaling the Glam Network and NBC’s iVillage.com for domestic reach. On time spent per visit, Betawave beat out the top 5 entities in the category, which included Yahoo!’s Shine and AOL Lifestyle and Living, by more than 70% for moms and 40% plus for women age 25 to 54.
Management Comment, Matt Freeman, CEO of Betawave
“Betawave endured a tough macroeconomic environment in 2008 and registered strong numbers for the year. Our portfolio of sites grew both in terms of the number of unique users and the quality of our environments. Our immersive, attention-based media approach brings greater accountability and better results for brands at a time when, more than ever, marketers are demanding greater return on their advertising investment.”
The following summarizes certain selected financial data of Betawave for the years ended, and as of, December 31, 2008 and 2007.
| CONSOLIDATED STATEMENT OF OPERATIONS | For the years ended | |
| December 31, 2008 | December 31, 2007 | |
| Revenues | $7,701,599 | $2,081,182 |
| Total costs of revenues and expenses | $22,508,017 | $17,330,015 |
| Net loss | $(16,969,985) | $(16,377,858) |
| Net loss per share - basic and diluted | $(0.66) | $(0.68) |
The financial statement information set forth in this press release should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the audited consolidated financial statements and related thereto included in Betawave’s Annual Report on Form 10-K for the fiscal year ended December 31, 2008, which was filed today with the Securities and Exchange Commission (SEC) and is available for review on the SEC’s website at www.sec.gov.
*Source: Comscore Media Metrix, February 2009, Unduplicated Audience
Betawave Corporation (www.betawave.com) (OTCBB:BWAV), headquartered in San Francisco and New York with sales offices in Los Angeles and Chicago, is a leading digital entertainment and media company focused on brand immersion experiences that reach consumers in a deeply engaged state of mind. Betawave specializes in aggregating and distributing premium content on a large network of quality sites for which Betawave is the exclusive brand advertising monetization partner. The Betawave portfolio of publishers reaches 25 million unduplicated online users domestically.* It ranks as the second largest online U.S. youth opportunity and a top five ‘mom’ opportunity for blue-chip advertisers.
*Source: Comscore Media Metrix, February 2009, Unduplicated Audience.
Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties, such as statements of Betawave’s plans, objectives, expectations and intentions. Forward-looking statements in this press release are generally identified by words, such as “projects,” “believes,” “anticipates,” “plans,” “expects,” “will,” and “would,” and similar expressions that are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results, performance or achievements of Betawave to be materially different from those expressed or implied by forward-looking statements. Actual events may differ materially from those mentioned in these forward-looking statements because of a number of risks and uncertainties. Discussion of factors affecting Betawave’s business and prospects is contained in Betawave’s periodic filings with the Securities and Exchange Commission, including Betawave’s most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2008 filed with the Securities and Exchange Commission on March 31, 2009. Betawave undertakes no obligation to publicly update or revise any forward-looking statements or to make any other forward-looking statements, whether as a result of new information, future events or otherwise unless required to do so by the securities laws. Investors are cautioned that forward-looking statements are not guarantees of future performance and that undue reliance should not be placed on such statements.
Contact:
Betawave Corporation
David Lorie, 415-738-8706 (Investor Relations)
General Counsel
dlorie@betawave.com
or
George H. Simpson Communications
George Simpson, 203-521-0352 (Press)
george@georgesimpson.com
SAN FRANCISCO, CA - February 27, 2009 - Betawave Corporation (OTCBB: BWAV) (www.Betawave.com, formerly known as GoFish Corporation) announces that effective Friday, February 27, 2009, the ticker symbol for the company’s common stock will change from “GOFH” to “BWAV.” The company has also received a new CUSIP number (08660F 100) for its common stock. This follows the company’s name change from GoFish Corporation to Betawave Corporation previously announced in January 2009 and the completion of a $22.5 million financing in December 2008.
Stockholders may exchange their current stock certificates for stock certificates reflecting the new company name and new CUSIP number, but are not required to do so. Stockholders interested in exchanging their stock certificates should contact the company’s transfer agent at: Continental Stock Transfer & Trust Company, 17 Battery Place, New York, NY 10004. Telephone: 212.509.4000; Fax: 212.509.5150, e-mail: cstmail@continentalstock.com.
Betawave Corporation (www.betawave.com) (OTCBB:BWAV), headquartered in San Francisco and New York with sales offices in Los Angeles and Chicago, is a leading entertainment and media company focused on brand immersion experiences that reach consumers in a deeply engaged state of mind. Betawave specializes in aggregating and distributing premium content on a large network of quality sites for which Betawave is the exclusive brand advertising monetization partner. The Betawave portfolio of publishers reaches over 25 million unduplicated online users domestically and 69 million worldwide.* It ranks as the third largest online U.S. youth opportunity and a top five ‘mom’ opportunity for blue-chip advertisers.
*Source: Comscore Media Metrix Media Trend (with duplication), December 2008.
Contact:
Betawave Corporation
David Lorie, 415-738-8706 (Investor Relations)
General Counsel
dlorie@Betawave.com
SAN FRANCISCO, CA - February 17, 2009 - Betawave Corporation (OTCBB: GOFH, www.Betawave.com), the first attention based digital media company, with a domestic reach of over 25 million unique users, announced today the premiere of Betawave TV, an ad-supported video platform. Betawave TV has launched on several publishers within the Betawave portfolio, and will also be available to select partners not in the Betawave publisher network. The product features advertiser-safe, family-friendly programming including quality animation, youth-oriented news, action sports, movie and video game information, special events, celebrity interviews, fashion, and health and beauty segments. Betawave TV offers marketers a scalable video advertising and distribution solution and enables them to extend their relationship beyond display media and immersive integrations. The universal player is customized for each publisher’s look and feel and is incorporated into the navigation of each site ensuring a high level of consumer adoption. Sponsorship opportunities include the ability to feature messages before and after professionally produced video programming, as well as through overlays at appropriate points in the viewing experience.
“Broadband advertising represents a growing share of online revenues despite the fact that there is a shortage of programming in environments that conform to high editorial standards. Betawave TV allows us to provide advertisers and publishers high-quality video programming,” said Matt Freeman, CEO of Betawave. “Given the quality of our publishers and content providers, we see the introduction of Betawave TV as a safe and scalable solution unlike anything currently in the marketplace. This is one more example how Betawave continues to deepen its relationship with its partners.”
Jim Moloshok, Executive Chairman of Betawave added: “Our holistic programming approach leverages the unique attributes of each environment. We have been thoughtful in how the player is integrated into individual sites. Prominent navigation and editorial support will ensure that we are able to build audience quickly as users seamlessly migrate from video to publisher content areas and back again. This is unique in the marketplace, and enables brands to be woven into the fabric of the consumer experience. Betawave TV is a prime example of our commitment to deliver attention based media.”
Upon its premiere, Betawave TV will be integrated into sites including Cartoon Doll Emporium, Minyanland, Hallpass, GameGecko and others. Additional publishers inside and outside of the Betawave Network will be added post launch, increasing the reach for the sites carrying the broadband video platform to over 6.0 million unique users per month by the end of the first quarter of operation. This compares favorably against established video and TV network sites such as NBC.com with 7.3M users, ABC.com with 8.8M users, CBS.com with 4.7M users and Hulu with 5M unique users per month, according to comScore Media Metrix for January 2009.
Following its debut, Betawave TV will premiere original made-for-online branded content headlined by celebrities like Raven Symone, star of “That’s So Raven”; and high-profile programming such as the star-filled weekly show “Live from the Red Carpet” from Entertainment Premieres, Inc. These opportunities are designed for brand inclusion and will leverage the unique capabilities of various publisher sites with experiences that extend beyond video programming into gaming and virtual world integrations.
“We are thrilled about the upcoming launch of Betawave TV. The type of premium programming available through the product is in high demand by our visitors and the revenue implications of video ad formats is very meaningful,” says Evan Bailyn, CEO of Cartoon Doll Emporium. “We are also looking forward to the original programming opportunities that will be introduced, as I believe these will tap into the greatest strengths of Cartoon Doll Emporium. Imagine engaging a qualified audience of movie goers and influencers with both broad distribution of behind the scenes video segments and dress-up games customized around key characters from the film.” The programming appearing in Betawave TV in the first half of the year includes:
Betawave Corporation (www.betawave.com) (OTCBB:GOFH - News), headquartered in San Francisco and New York with sales offices in Los Angeles and Chicago, is a leading entertainment and media company focused on brand immersion experiences that reach consumers in a deeply engaged state of mind. Betawave specializes in aggregating and distributing premium content on a large network of quality sites for which Betawave is the exclusive brand advertising monetization partner. The Betawave portfolio of publishers reaches over 25 million unduplicated online users domestically and 69 million worldwide.* It ranks as the third largest online U.S. youth opportunity and a top five ‘mom’ opportunity for blue-chip advertisers.
*Source: Comscore Media Metrix Media Trend (with duplication), December 2008.
Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties, such as statements of Betawave’s plans, objectives, expectations and intentions. Forward-looking statements in this press release are generally identified by words, such as “projects,” “believes,” “anticipates,” “plans,” “expects,” “will,” and “would,” and similar expressions that are intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results, performance or achievements of Betawave to be materially different from those expressed or implied by forward-looking statements. Betawave undertakes no obligation to publicly update or revise any forward-looking statements or to make any other forward-looking statements, whether as a result of new information, future events or otherwise unless required to do so by the securities laws. Investors are cautioned that forward-looking statements are not guarantees of future performance and that undue reliance should not be placed on such statements.
Contact:
Betawave Corporation
David Lorie, 415-738-8706 (Investor Relations)
General Counsel
dlorie@betawave.com
Or
George H. Simpson Communications
George Simpson, 203-521-0352 (Press)
george@georgesimpson.com
SAN FRANCISCO (January 19, 2009) Following a $22.5 million financing last month, GoFish Corporation reported today that it is relaunching as Betawave Corporation (OTCBB: GOFH, www.betawave.com), the industry’s first attention based media company. The name change to Betawave, a cognitive term for the mind state of active concentration, reflects the company’s belief that consumer attention will become the new economic basis for brand media.
Betawave focuses exclusively on the highest attention span media environments as measured by time spent per month, time spent per page and receptivity to brand advertising. This approach, coupled with an emphasis on immersive advertising products, allows Betawave to weave brands into the fabric of consumer experiences and deliver measurable results that far exceed industry norms.
“Historically, the portals have been the only options for big brands to reach big audiences online,” says Betawave CEO, Matt Freeman. “Unfortunately, the portals have largely devolved into utility environments that offer reach rather than engagement - more tonnage than attention. We want to create an alternative for brand advertisers who are seeking both scale and attention - at a price that isn’t artificially inflated.
”Betawave’s transparent portfolio of casual gaming, virtual world, social play and entertainment publishers delivers scale with a unique monthly audience of 25 million domestically and 69 million worldwide, and attention with an average audience engagement of more than 54 minutes per month*.
As measured by minutes of consumer attention, Betawave is the world’s largest pure play digital media company for Youth (6-17) and Moms and a rapidly growing force in 18-34 demographics.
Betawave’s platform is specifically designed to support highly-innovative and entertaining campaigns (ones that consumers actually enjoy rather than ignore) like advergames, virtual world integrations, rich media and video at a level of scale and accountability that befits major marketers. “The basic idea is to aggregate audiences that are relaxed and paying attention, and then help brands make an attention grabbing contribution to that consumer experience,” says Mr. Freeman. “We offer brand advertisers a simple solution based not just on how many people we reach, but on how much interest we generate,” concludes Mr. Freeman. “Brand advertisers deserve the same level of accountability as direct marketers. We are simply applying that same performance focus to brand-friendly media environments.”
Betawave Corporation (www.betawave.com) (OTCBB:GOFH - News), headquartered in San Francisco and New York with sales offices in Los Angeles and Chicago, is a leading entertainment and media company focused on brand immersion experiences that reach consumers in a deeply engaged state of mind. Betawave specializes in aggregating and distributing premium content on a large network of quality sites for which Betawave is the exclusive brand advertising monetization partner. The Betawave portfolio of publishers reaches over 25 million unduplicated online users domestically and 69 million worldwide.* It ranks as the third largest online U.S. youth opportunity and a top five ‘mom’ opportunity for blue-chip advertisers. *Source: Comscore Media Metrix Media Trend (with duplication), December 2008.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include statements relating to Betawave’s expected growth in future periods and other statements identified by words, such as “projects,” “believes,” “anticipates,” “plans,” “expects,” “will,” and “would,” and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Betawave to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and that undue reliance should not be placed on such statements. Actual events may differ materially from those mentioned in these forward-looking statements because of a number of risks and uncertainties. Discussion of factors affecting Betawave’s business and prospects is contained in Betawave’s periodic filings with the Securities and Exchange Commission. Betawave undertakes no obligation to publicly update or revise any forward-looking statements or to make any other forward-looking statements, whether as a result of new information, future events or otherwise unless required to do so by the securities laws. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in the Betawave’s filings with the Securities and Exchange Commission. These filings are available on a website maintained by the Securities and Exchange Commission at www.sec.gov.
Contacts:
Betawave Corporation
David Lorie
General Counsel (Investor Relations)
415-738-8706
dlorie@betawave.com
Or
George H. Simpson
203-521-0352 (Press)
george@georgesimpson.com
SAN FRANCISCO (December 15, 2008) GoFish Corporation (OTCBB: GOFH, www.gofishcorp.com), a leading digital media company reported today that an element of an immersive campaign for Mead, the biggest maker of school supplies, featuring customized integration into gaming and virtual communities, resulted in over 10 million plays of a Five Star® Classroom Pilot Game. The game, created exclusively for Mead by GoFish, rang up over 40 million minutes of quantifiable interaction for its notebooks. The average time spent playing the game was over 4 minutes.
The objectives of the campaign were two-fold: to create awareness and engagement around the new Five Star®, Five Star Advance®, and Flex® notebook products; and to drive the target audience to a “Battle of the Beats” promotion. The custom elements of the campaign included integration into gaming and virtual communities. The experiences were supported through extensive editorial promotion plus high impact and targeted media.
“I am delighted with the overwhelming response to the 2008 GoFish Back to School online media campaign for Five Star. The customized elements of the campaign were immediately and continually engaging to Five Star’s core teen target,” says. Cheryl Holliday, Senior Brand Manager for Mead Five Star. “This online effort was one of the largest and most successful Back-to-School campaigns in our history with GoFish, and we could not be more thrilled to have partnered with them to drive further engagement with the Five Star brand in 2008.”
Digitized branded assets created by GoFish for Mead could be adopted and used by WeeMee avatars throughout the WeeWorld community, a part of the GoFish portfolio of sites. The audience was encouraged to adopt assets to win points redeemable throughout the experience. Relevant editorial events such as the annual “Best Dressed for Back-To-School” contest also encouraged user engagement.
In both cases, media supporting or positioned around the immersive experiences outperformed other placements by as much as 11 to 1.
“We are pleased that Mead recognizes the value of our approach and chose to launch its campaign on our platform,” says Matt Freeman, CEO of GoFish. “These experiences capture the attention of visitors and create a relationship with audiences benefitting both advertisers and publishers. These results are characteristic of what we commonly see through the immersive experiences available on our publishers. They go beyond click through and ensure brand marketers true accountability.”
Heather Fogarty, Supervisor of Touchpoint Integrated Communications, adds, “The response rates we saw were exceptional compared to other partners on our 2008 Back to School Mead Campaign.”
GoFish Corporation (www.gofishcorp.com) (OTCBB:GOFH - News), headquartered in San Francisco and New York with sales offices in Los Angeles and Chicago, is a leading entertainment and media company focused on brand immersion experiences that reach consumers in a deeply engaged state of mind. GoFish specializes in aggregating and distributing premium content on a large network of quality sites for which GoFish is the exclusive brand advertising monetization partner. The GoFish Network of sites reaches over 25 million unduplicated online users domestically and 69 million worldwide.* It ranks as the third largest online U.S. youth opportunity and a top five ‘mom’ opportunity for blue-chip advertisers. The company recently announced $22.5 million in a private placement financing led by Panorama Capital, Rustic Canyon Partners and Rembrandt Venture Partners.
*Source: comScore Media Metrix Media Trend (with duplication), October 2008.
]]>SAN FRANCISCO- December 4, 2008 - GoFish Corporation (OTCBB: GOFH, www.gofishcorp.com), a leading digital media company, today announced that it has secured $22.5 million in a private placement financing led by Panorama Capital, Rustic Canyon Partners and Rembrandt Venture Partners.
The company will use the proceeds to retire its debt, further accelerate the growth of its immersive media solutions and continue expansion of its sales and marketing team.
With audience share growth that has outpaced its peers by 300%, GoFish now reaches a monthly average of 69 million unique visitors globally and 25 million domestically. The third quarter of 2008 marked the second consecutive quarter of approximately 100% revenue growth over the prior quarter.
GoFish has rapidly become a trusted partner and a 'must buy' for brand advertisers based on its uniquely immersive media environments. The GoFish audience spends an average of 68 minutes within high attention experiences such as gaming, entertainment and virtual worlds.
Michael Jung of Panorama, Mark Menell of Rustic Canyon and Richard Ling of Rembrandt join the GoFish Board of Directors.
"We're thrilled to have the backing of such well respected partners," said Tabreez Verjee, President of GoFish. "This has been a year of significant growth and achievement. Our new capital reinforces our solid position in the marketplace and provides for continued growth of capacity, products and revenue. We have built considerable momentum and increased share thus far with a small team and we believe we're poised to continue our growth in 2009."
"We have an exciting new model for brand marketers, an exceptionally talented team and a fantastic marketplace opportunity," said Matt Freeman, CEO of GoFish. "We are well positioned to challenge the incumbents of traditional media and the portals with more imaginative, immersive and highly accountable campaigns."
Michael Jung, Partner at Panorama Capital said, "GoFish has taken a unique approach to serving the needs of major brand advertisers struggling to capture attention of desirable audiences in an increasingly fragmented media landscape. They have demonstrated consistent execution and exceptional results over the past year."
Richard Ling, Partner at Rembrandt Venture Partners said, "GoFish represents an exceptional opportunity in the online advertising space, particularly at this time. Advertisers across the board will be uncompromisingly looking for efficiency and quality in the properties in which they will be willing to spend their limited resources. The team at GoFish represents a unique blend of talent and relationships that has built the type of solution we believe advertisers want to see."
"In a very short period of time, GoFish has established itself as a leading online partner for brand advertisers seeking to reach one of the most sought after audiences," said Mark Menell, Partner at Rustic Canyon Partners. "The company has a proven business model with some of the most experienced thought leaders in the digital media ecosystem at the helm."
Under the terms of the financing, the investors have committed to invest $22.5 million with an option to invest an additional $2.5 million over the next few weeks. The investors will purchase newly created Series A Preferred Stock convertible at a per common share equivalent price of $0.20 per share. The investors also will receive warrants to purchase common stock at $0.20 per share. GoFish will use a portion of the proceeds to repay all of its outstanding debt and to cancel outstanding warrants. In connection with the repayment of the company's debt, holders of 36% of the company's outstanding convertible debt have elected to convert their debt into Series A Preferred Stock. The holders of the company's subordinated debt converted all of their debt into Series A Preferred Stock and exchanged their common stock warrants into common stock at a ratio of one share of common stock for every 10 warrant shares. Holders of an additional 11% of the company's convertible senior debt have the option to convert their debt into Series A Preferred Stock in the next few days. Assuming the investment of $22.5 million and conversion of 36% of the company's outstanding convertible debt (and excluding any conversion by holders of the additional 11% of the company's convertible debt into Series A Preferred Stock), the company will issue Series A Preferred Stock convertible into approximately 152 million shares of common stock, approximately 3.6 million shares of common stock and issue warrants to purchase approximately 61 million shares of common stock. More details of the financing will be reported when the company files its Current Report on Form 8-K with the U.S. Securities and Exchange Commission.
About Panorama Capital
Panorama Capital is a venture capital firm based in California's Silicon Valley that invests in passionate entrepreneurs who are building leading companies in technology and life sciences. Founded in late 2005 as the successor to the venture capital program of JPMorgan Partners, the Panorama team takes a hands-on, highly collaborative approach to investing, bringing to each portfolio company the extensive experience of a seasoned group of investors who collectively possess more than 140 years of broad experience as investors, executives, entrepreneurs, engineers and physicians. Panorama has been a successful investor in the digital media sector with portfolio companies like Federated Media. For more information about Panorama Capital, visit www.panoramacapital.com.
About Rustic Canyon Partners
Rustic Canyon Partners is an early stage venture capital firm that invests in exceptional entrepreneurs building transformational companies. The investment team works collaboratively, drawing on a diverse set of experiences as successful entrepreneurs, managers, and strategic and financial advisors. With over $900 million in funds under management, Rustic Canyon is one of the largest firms based in Southern California, with strong presence in Silicon Valley and Seattle. Key investment themes include Internet/media convergence, clean technology, technology-enabled services, information services, and wireless and wireline broadband.
About Rembrandt Venture Partners
Rembrandt Venture Partners (RVP) was established in 2004 to provide private equity capital to early stage technology companies. Rembrandt invests in a variety of sectors including Internet infrastructure, application software delivered as a service, communications, next generation wireless sectors and new media convergence. Vision: As many venture funds have dramatically increased in size, and angel investment activity has declined over the past few years a void has developed in the market. Rembrandt believes there is a substantial opportunity for a fund focused on early company building.
About GoFish Corporation GoFish Corporation (www.gofishcorp.com) (OTCBB:GOFH - News), headquartered in San Francisco and New York with sales offices in Los Angeles and Chicago, is a leading entertainment and media company focused on brand immersion experiences that reach consumers in a deeply engaged state of mind. GoFish specializes in aggregating and distributing premium content on a large network of quality sites for which GoFish is the exclusive brand advertising monetization partner. The GoFish Network of sites reaches over 25 million unduplicated online users domestically and 69 million worldwide.* It ranks as the third largest online U.S. youth opportunity and a top five 'mom' opportunity for blue-chip advertisers.
*Source: Comscore Media Metrix Media Trend (with duplication), October 2008.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include statements relating to GoFish's expected growth in future periods and other statements identified by words, such as "projects," "believes," "anticipates," "plans," "expects," "will," and "would," and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of GoFish to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. Investors are cautioned that forward- looking statements are not guarantees of future performance and that undue reliance should not be placed on such statements. Actual events may differ materially from those mentioned in these forward-looking statements because of a number of risks and uncertainties. Discussion of factors affecting GoFish's business and prospects is contained in GoFish's periodic filings with the Securities and Exchange Commission. GoFish undertakes no obligation to publicly update or revise any forward-looking statements or to make any other forward-looking statements, whether as a result of new information, future events or otherwise unless required to do so by the securities laws. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in the GoFish's filings with the Securities and Exchange Commission. These filings are available on a website maintained by the Securities and Exchange Commission at www.sec.gov.
Contact:
GoFish Corporation
David Lorie, 415-738-8706 (Investor Relations)
General Counsel
dlorie@gofishcorp.com
Or
George H. Simpson Communications
George Simpson, 203-521-0352 (Press)
george@georgesimpson.com