USA Networks, Inc. and Styleclick, Inc. Launch Newly-Formed Company
Enhanced Commerce Services Provider is Division of
USA Information and Services (USAIS)
NEW YORK and LOS ANGELES, Aug. 1 -- USA Networks, Inc. (Nasdaq: USAI - news) and
Styleclick, Inc. (Nasdaq: IBUYD - news) today announced completion of the merger
of USAi's Internet Shopping Network (ISN) and Styleclick.com, and the launch of
newly-formed Styleclick, Inc. Majority-owned by USAi, Styleclick is an enhanced
commerce services provider, operating a highly scalable transaction based
technology platform for businesses across more than 90 product categories. The
Company also offers one of the largest merchandising and fulfillment
infrastructures leveraging the scale of the USAIS companies Home Shopping
Network and Precision Response Corporation.
Styleclick's core technology platform features highly automated interface and
design tools, merchandising and content management, transaction processing,
database architecture, and patented rendering capabilities. Styleclick's
scalable platform enables seamless operation for clients including USAi
companies. Additionally, Styleclick's proprietary technologies, including
contextually merchandised stores, auctions, and Web-based rendering, may be
added to the business models and offerings of third party clients. Styleclick
generates fee-based and transactional revenue based upon its strategic service
business model.
Styleclick's online commerce technology has been combined with ISN's strategic
merchandising capabilities, First Auction's dynamic pricing innovations and
product categories, and the resources of USA Networks, Inc., to position the new
company as a leader within the commerce services industry. The Company has built
upon its twelve year history as a leading technology provider and offers
enhanced commerce services including:
Electronic Commerce Solutions
Web design and development; Online auctions and interactive dynamic pricing;
Comprehensive tracking, reporting and analysis; User-friendly navigation
technologies including dedicated search and "mix & match" engines; Interactive
imaging technologies including flash animation, rendering, enhanced resolution
viewing (pan and zoom); photo realistic branded stores via immersion imaging
(photo bubble); Digital photography with embedded descriptions and editorial,
and full-service rich media, the next-generation vehicle for merchandising and
contextually selling consumer product online.
Strategic Merchandising
Consumer product aggregation for branded Web sites; online distribution; and
contextually merchandised online shops relevant to clients' target audiences;
Electronic cataloguing and automated content management integrating editorial
and product information embedded with digital product images.
Online Product Distribution
Positioning clients' merchandise exactly where consumers congregate and buy
online; Access to distributing client's consumer merchandise to more than 25
million consumers for direct selling within today's top online Sites.
Fulfillment and Customer Care
Through USAi companies Home Shopping Network and Precision Response Corporation,
Styleclick utilizes a million sq. foot warehouse/shipping facility and call
centers integrated with e-commerce technologies and services for round-the-clock
customer care. Secure order payment and processing.
"We look to the future quite differently from other media companies, and we have
organized our company to reflect that unique perspective, emphasizing targeted
transactional revenue throughout our businesses," said Jon Miller, President and
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CEO, USAIS. "Styleclick represents tremendous growth potential in the
information and services arena, as it joins profitable enterprises such as
Ticketmaster Online, Match.com and Hotel Reservations Network, already operating
in the coordinated unit and positioned to service USAi's online commerce
initiatives and those of our third party clients."
"Styleclick now emerges with a transactional technology platform combined with
far-reaching assets of its parent and sister companies to create, implement, and
manage online commerce initiatives across virtually any industry," said Maurizio
Vecchione, CEO, Styleclick, Inc. "The Internet services market is expected to
grow to a $44 billion dollar industry by 2004 and is lead by increasing commerce
transaction volume. We've created highly automated online processes to enable
our clients to immediately monetize their online initiatives and rapidly realize
their return on investment. Utilizing our in-house resources and those of our
sister companies within USAIS, we are able to lead with cost-effective offerings
unlike any other CSP."
Styleclick operates as part of USA Information and Services (USAIS), an
operating unit of USAi which coordinates the efforts of the Company's businesses
engaged in various forms of transactional interactivity. The USAIS business unit
handles more than $3 billion dollars worth of consumer transactions annually,
all of it interactive and one-third and growing online. USAIS companies include
Styleclick, Ticketmaster, Ticketmaster Online- Citysearch, Inc. (Nasdaq: TMCS -
news), Match.com, Hotel Reservations Network (Nasdaq: ROOM - news); Precision
Response Corporation, and USA eSolutions and Fulfillment Services. Together
these companies operate at scale with a centrally-managed teleservicing
operation.
Styleclick's Board of Directors consists of veteran industry executives
including: Victor Kaufman, Vice Chairman, USA Networks, Inc.; Michael Sileck,
CFO, USA Networks, Inc.; Mark Bozek, President and CEO, Home Shopping Network,
Inc., a division of USAi; Jon Miller, President and CEO, USA Information and
Services (USAIS), an operating unit of USAi; Dara Khosrowshahi, Executive VP,
Operations and Strategic Planning, USA Networks, Inc.; Maurizio Vecchione, CEO,
Styleclick, Inc.; Larry Jacobson, President and COO, Ticketmaster; Jon Tinker,
Founder and Managing Partner of Steamer Capital, a fund focusing on public
investments in the Internet, media and telecommunications industries; Hamilton
South, former Group President and Chief Marketing Officer of Polo Ralph Lauren;
and Leslie Saleson, President and COO of Abbott Resource Group.
About Styleclick, Inc.
Styleclick, Inc. provides enhanced commerce services bringing businesses online
for sales transactions. Leveraging its core technology platform, highly
automated to offer scalability, the Company represents businesses across more
than 90 product categories including over 100,000 consumer products aggregated
from more than 300 national brands. Styleclick services include Web design and
development, strategic merchandising, product distribution, fulfillment and
customer care. A majority-owned subsidiary of USA Networks, Inc., Styleclick
operates as part of USA Information and Services (USAIS), which coordinates the
efforts of USAi's businesses engaged in various forms of transactional
interactivity.
About USA Networks, Inc.
USA Networks, Inc. (Nasdaq: USAI - news) is focused on the new convergence of
entertainment, information and direct selling. Formed in February 1998, the
Company is organized into three distinct but interrelated units which include
the following assets: USA Entertainment's USA Network, SCI FI Channel, TRIO,
NWI, Studios USA, USA Films, USA Broadcasting and Interactive Entertainment; USA
Electronic Retailing's HSN, HSN International, HSN Interactive; and USA
Information and Services' Ticketmaster, Ticketmaster Online-Citysearch (Nasdaq:
TMCS - news), Match.com, Hotel Reservations Network (Nasdaq: ROOM - news),
Electronic Commerce and Services, Internet Shopping Network and Precision
Response Corporation.
This press release contains forward-looking statements about Styleclick, Inc.
Except for historical information, the matters discussed in this press release
are forward-looking statements that are subject to certain risks and
uncertainties that could cause the actual results to differ materially from
those planned or projected.
Media inquiries please contact, Bonnie Poindexter, 310-751-2142, or Lisa
Germani, 310-751-2182, or Investors, Gail Laguna, 310-751-2100, all for
Styleclick.com Inc.; or Media, Adrienne Becker, 212-314-7254, or Investors,
Roger Clark, 212-314-7400, both for USA Networks, Inc.
