GATOR AND IAB TO ADDRESS ONLINE ADVERTISING OPPORTUNITIES
Gator to Work With IAB Members to Discuss Future Versions of Companion Pop-Up Banners That Support Web Publishers
REDWOOD CITY, CA/NEW YORK, NY - November 28, 2001 - Gator and the Interactive Advertising Bureau (IAB) have jointly announced that they have tabled their ongoing differences and will cooperatively work together as Gator develops a new version of it's Companion Pop-Up Banner. To this end, the IAB will arrange meetings with leading IAB member companies, to help Gator create a new version of their Pop-Up Banner, one that will support Web publishers" efforts.
Gator filed a lawsuit Aug. 27 in federal district court against the IAB to protect Gator"s use of its newest advertising vehicle, the Companion Pop-up Banner window - an ad vehicle that follows recent consumer behavior to deliver a targeted banner advertisement on some web pages. Gator and the IAB have agreed to extend various deadlines relating to the lawsuit; thereby enabling ongoing discussions to focus on the positive ways Gator, the IAB and publishers can work together. To that end, both parties have agreed that they will only comment on future Gator/IAB developments as they occur.
"As a leader in desktop behavioral marketing with 10 million active users and over 200 advertisers, we feel we have proven that behavioral targeting works," said Jeff McFadden, president and CEO of Gator. "Now as a gesture of good faith in our ongoing discussions, Gator has agreed to stop selling the Companion Pop-up Banner vehicle in its current form. We will put this product on hold as we talk with IAB members to co-develop a new version that is more publisher friendly, designed to create a revenue stream for them by monetizing unused banner inventory."
"We are confident that the next generation Gator Pop-up Banner advertising vehicle and programs can better balance the needs of Gator"s advertisers and consumers with those of the publishers," continued McFadden. "We will honor all existing contracts through 2001 and expect to re-launch the next generation Pop-up Banner vehicle in early 2002 in concert with web site publishers."
"We are in the midst of an extremely crucial period in the growth of the online advertising industry and should not allow ourselves to be sidetracked by differences of opinion when we can work together for the benefit of all," said IAB president and CEO Greg Stuart. "I commend Gator for its willingness to work with the IAB and its members to develop a new version of its banner product that could provide direct revenue to our member companies. While we both regret that these discussions didn"t happen earlier, I believe that we can arrange for Gator and IAB member companies to meet and discuss their various points of view and arrive at a solution that works for all. We all are directed towards growing the online ad business and these discussions may very well help the cause."
"We will also announce at our Annual Meeting on December 4th in New York the formation of a committee to study emerging interactive advertising technologies and how they impact consumers, publishers and advertisers, and will invite Gator to participate in these discussions," Stuart concluded.
Gator produces a suite of software that enriches the Internet experience for millions of users, and has built one of the world"s largest in-context behavioral marketing networks. Gator is a publisher of a top #25 rated web property according to Jupiter Media Metrix, and has quickly become the leader in the online companion software space, assisting users over 100 million times at over 700,000 unique web sites each month. Gator"s enterprise clients include the leading Fortune 500 advertisers in Automotive, Financial Services, Travel, Entertainment, Retail and Consumer Package Goods. Gator is a privately held company based in Redwood City, CA - http://www.Gator.com
About the IAB
Founded in 1996, the IAB is the industry's leading interactive advertising association and represents companies that sell over 70% of online advertising, including AOL, CNET, MSN, Yahoo, DoubleClick and many others. Its activities include evaluating and recommending standards and practices, fielding research to document the effectiveness of the interactive medium and educating the advertising industry about the use of interactive advertising. Membership includes companies that are actively engaged in the sale of interactive advertising.
Marla Nitke IAB
Niehaus Ryan Wong