InfoSpace, Inc. (NASDAQ:INSP) today announced strategic priorities as it transitions to a focused, online search company. These plans are designed to reduce costs, support growth, and enhance profitability.
“Over the past year, we have delivered significant value to InfoSpace’s shareholders by declaring over $500 million or over $15 per share in cash distributions. The initiatives announced today are part of our ongoing efforts to create value and capitalize on our strengths as a more focused online search company,” said Jim Voelker, Chairman and Chief Executive Officer of InfoSpace.
InfoSpace’s strategic priorities include:
InfoSpace, Inc. is a leading developer of metasearch products to help people easily search and discover the web. InfoSpace uses its proprietary metasearch technology that combines the top results from the leading search engines to power a portfolio of branded Web sites, including Dogpile (www.dogpile.com) and WebFetch (www.webfetch.com). For the second consecutive year, Dogpile ranked highest in customer satisfaction among search engines, according to JD Power and Associates. More information can be found at www.infospaceinc.com.
This release contains forward-looking statements relating to InfoSpace, Inc.’s proposed strategic priorities that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. The words “believe,”“expect,” “intend,”“anticipate,” variations of such words, and similar expressions identify forward-looking statements, but their absence does not mean that the statement is not forward-looking. Forward-looking statements include without limitation statements regarding the reduction of costs, the creation of value and the Company’s ability to capitalize on its strengths, planned significant product enhancements and new direct-to-consumer marketing efforts, the potential increase of traffic on the Company’s owned search sites, the Company’s distribution network and expected expansion through the broadening of the Company’s product set to include a new portal product and other value added offerings, and the prospects of InfoSpace’s online search business. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could affect InfoSpace’s actual results include general economic, industry and market sector conditions, the progress and costs of the development of our products and services, the timing and extent of market acceptance of those products and services, our dependence on companies to distribute our products and services, and the successful execution of the Company’s strategic and operational initiatives, including rationalizing costs. A more detailed description of certain factors that could affect actual results include, but are not limited to, those discussed in InfoSpace’s most recent Annual Report on Form 10-K and quarterly reports on form 10-Q as filed from time to time, in the section entitled “Risk Factors.” Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. InfoSpace undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.