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register.com (TM)
The first step on the web
Register.com Acquires Inabox Inc.;
Inabox's Proprietary Site Building Tools Enhances
Register.com's Offering to ISPs
NEW YORK, NY-- June 5, 2000 - Register.com, Inc. (Nasdaq: RCOM) today announced
that it has acquired Inabox Inc., a technology firm specializing in the design
and development of online building tools for Internet service providers (ISPs),
Web hosting companies and community sites. Under the terms of the agreement,
register.com acquired Inabox for $1 million cash, 260,000 shares of register.com
common stock, and up to an additional 40,000 shares contingent on certain
conditions being met by Inabox.
Inabox's sophisticated yet easy to install WebSiteNOW! (TM) software will add
value to register.com's product offering for the company's "indirect"
distribution channel, a network of co-branded and private label Web sites that
includes ISPs and web-hosting companies. Register.com's indirect distribution
partners will now be able to offer their customers a variety of online tools to
facilitate launching and managing a professional Web site. WebSiteNOW!(TM)
capabilities include private branding, multi-language support, easy upload of
images and documents, site maintenance features, security, search features and
comprehensive statistics and information to track customer usage patterns. By
using these tools, ISPs and Web hosting companies will be able to convert new
domain name registrants to additional value-added products and services.
"We're very excited about Inabox. The company has an awesome technology and
smart and dedicated professionals, all of whom we're proud to welcome to the
register.com team," said Richard Forman, President and CEO of register.com.
"Inabox's WebSiteNow!(TM) software provides our indirect distribution partners
the tools they need to attract and retain their own customers by allowing end
users to establish a presence on the Web quickly and easily. This acquisition
reinforces our commitment to the indirect distribution channel for domain name
register.com, inc.
575 Eighth Avenue, 11th Floor, New York, NY 10018 Phone: (212) 798-9100
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registration - an important part of register.com's strategy."
"By joining with register.com, a leader in the domain name registration arena,
we're creating a comprehensive solution for Web site registration and
development," said Rafael Collado, Chairman and CEO of Inabox. "This combination
will allow us to set a new standard for facilitating and expanding users' Web
presence."
Register.com currently utilizes Inabox software to power its FirstStepSite(TM),
a free, template-driven, three-page Web site offered through the company's
direct channel, www.register.com. Register.com intends to adapt and develop
Inabox's technology across additional applications and distribution channels.
As part of the acquisition, Inabox will be fully integrated into register.com,
and Inabox employees will become full-time employees of register.com. The
acquisition will be accounted for using the purchase method of accounting.
About register.com
Register.com, Inc. (www.register.com) provides domain name registration and
other Internet services for individuals and businesses that wish to have a
unique and branded identity on the Internet. Register.com was the first
registrar to compete in the domain registration market after the US government
deregulated the industry in 1999. In addition, the company was selected as one
of the first five "test bed" registrars accredited by ICANN, the Internet
Corporation for Assigned Names and Numbers.
Register.com was ranked among the top 100 Web sites by PC magazine in
July 1999 and listed as one of Fortune Magazine's 25 Products to Watch in
November 1999. Register.com was also ranked among the Top 25 Online Merchants by
Nextcard for January, February and March of 2000. The Company was founded in
1994 and is based in New York City. For investor information, visit our IR
website at http://investor.register.com.
About Inabox Inc. (www.inabox.com)
Prior to its acquisition by register.com, Inabox Inc. was a privately held
technology firm located in New York, focusing on web Commbuilding, developing
and integrating community communication tools (e.g., chat, buddy lists, threaded
messaging, etc.), and providing turn-key
register.com, inc.
575 Eighth Avenue, 11th Floor, New York, NY 10018 Phone: (212) 798-9100
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online public and private communities for ISPs, businesses and communities of
interest. Among its clients and strategic partners are telephone companies,
portals and online content sites, Web hosting companies and ISPs. Inabox is the
developer of WebSiteNOW!(TM), a leading, fully customizable online website
creation software (www.websitenow.com). Additional information about Inabox is
available by calling 212.666.1643 and through Inabox's website at
www.inabox.com.
Statements in this announcement other than historical data and information
constitute forward-looking statements that involve risks and uncertainties that
could cause actual results to differ materially from those stated or implied by
such forward-looking statements. The potential risks and uncertainties include,
among others, potential volatility in register.com's stock price, uncertainty of
future revenue and profitability, uncertainty of regulation related to the
domain registration business and the Internet generally, increasing competition
in the domain name registration business, customer acceptance of new products
and services offered by the company in addition to or as enhancements of its
registration services and the rate of growth of the Internet and online
commerce, and other factors detailed in our filings with the Securities and
Exchange Commission, including our Quarterly Report on Form 10-Q for the period
ended March 31, 2000 and our Registration Statement on Form S-1, as amended,
filed in connection with our initial public offering of common stock.
Public Relations contact: Investor Relations Contact:
Shonna Keogan Stephanie Marks
(212) 798-9149 (212) 798-9169
[email protected] [email protected]
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