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Internet Marketing and Web Design News - Florida & Beyond
Wednesday, December 03, 2003
4:09 PM
Reuters | Latest Financial News / Full News Coverage
U.S. largest yellow-pages service gets bigger
Wed 3 December, 2003 16:21
PHILADELPHIA (Reuters) - FindWhat.com, a provider of Internet-marketing technology, says it has landed a contract with Verizon Communications to help the nation's largest telephone company expand its local, online yellow-pages advertising.
Verizon SuperPages.com, the largest online yellow pages directory service in the United States, said on Wednesday it would use FindWhat.com's technology to improve advertising options for businesses that market products and services to specific local markets.
FindWhat.com's stock surged $2.24, or 15 percent, to $17.10 on the Nasdaq amid news on the contract. Financial terms of the revenue-sharing licensing deal were not disclosed.
FindWhat.com's technology connects online advertisers with the businesses and consumers most likely to purchase their specific goods and services.
Advertisers bid against each other for particular keywords or phrases used in Web searches through an automated, bid-for-position system.
The advertisement of the Web site with the highest bid appears first, with all other advertisers listed in descending bid order. Web advertisers pay only for those prospects who click-through to their sites.
Verizon said it expects to launch an enhanced local SuperPages.com advertising service in early 2004.
Shares of New York-based Verizon shed 14 cents to trade at $32.43 on the New York Stock Exchange.
