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IAC Consumer Applications & Portals Acquires StarNet Interactive
Tuesday, May 20, 2008
GirlSense(TM) Acquisition Brings IAC CAP Further into the Forefront of Virtual Teen Fashion and Social Networking
WHITE PLAINS, N.Y., May 20 /PRNewswire-FirstCall/ -- IAC Consumer
Applications & Portals, Inc. (IAC CAP), makers of Zwinky - one of the world's
largest teen-oriented virtual worlds - today announced the acquisition of
Israeli-based StarNet Interactive, producers of GirlSense.com, a virtual
community that offers teen girls a place to develop social networks around
fashion.
IAC CAP is one of the fastest growing divisions of IAC/InterActiveCorp.
The IAC CAP product portfolio centers on properties that enhance online
communication and social networking through self-expression. The company
features such successful teen-targeted properties as Zwinky, a virtual world
with more than 6 million unique users in March according to ComScore,
SmileyCentral and Webfetti, a social network profile customizer that attracted
more than 5.2 million users in March. With the addition of the GirlSense site,
IAC CAP will expand its focus on the teen girl market around the world.
"Part of our growth strategy includes acquisition of products and
companies that complement our core competencies," said John Park, president
and CEO of IAC Consumer Applications & Portals, Inc. "Adding Girlsense.com to
our existing teen targeted product portfolio provides us with broader teen
mindshare, and access to the coveted tween demographic."
GirlSense offers highly customizable tools that allow girls to create
their own virtual fashion boutiques. Since its inception, GirlSense primarily
grew its user base through word of mouth and viral networking to 13 Million
registered users. The site was spun-off from Gteko in November 2006 after the
company was acquired by Microsoft Corp. " We are excited to join IAC CAP, a
leader in Internet products and services, and to mutually benefit from the
synergies of being a part of their consumer platform" said Cathy Glazer, CEO
and Founder of GirlSense. "We believe that the experience, scale and market
share IAC brings will help expand and enrich the GirlSense community."
GirlSense(R)
With nearly 13 million registered users, GirlSense.com is an ingenious
fashion community for tween and teen girls that blends social networking with
an artistic, inspired, virtual fashion world. GirlSense offers girls a place
to develop a social network around a common interest, fashion. Members can
design their own fashions, sell them in their own virtual boutique that they
have created, advertise them throughout the site, and schedule them for live
auctions. Bidders have an opportunity to see the virtual fashions up for
auction, view current bids and place their own, chat safely with other bidders
in the auction room and see when the item has been sold.
About IAC Consumer Applications & Portals, Inc. ("IAC CAP")
IAC CAP, a wholly owned business of IAC/InterActiveCorp (Nasdaq: IACI), is
a leading web developer of consumer applications and portals, which enable
users to creatively and visually express themselves online. IAC CAP brands
include Zwinky(TM), which s one of the largest teen-focused virtual worlds on
the Internet with approximately 15 Million registered members; 6 Million
monthly unique visitors and a 70 percent female user-base. Webfetti is social
network profile customizer that attracted more than 5.2 million users in
March. Additional properties include Smiley Central(R), Webfetti(TM),
IWON(R), Popular Screensavers(TM), MyFunCards(TM), Cursor Mania(TM), as well
as the Excite(R) and MyWay(TM) portals.
About StarNet Interactive:
StarNet Interactive produces GirlSense and strives to provide members with
on-line experiences that are safe, unique, innovative and fun. GirlSense is
COPPA compliant (COPPA compliance) requiring site operators to maintain the
confidentiality, security and integrity of all members' personal information
12-years-old or younger.
StarNet Interactive was spun off from Gteko Ltd., which was acquired by
Microsoft Corp. in November 2006, with funding led by Leo Capital holdings,
LLC and additional funding by such investors as Pitango Venture Capital.
For more information, please contact:
Deborah Szajngarten
IAC Consumer Applications and Portals
914-826-2153
Deborah.szajngarten@IACcap.com
SOURCE IAC Consumer Applications & Portals, Inc.
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