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| MWW | 8.92 | 0.47 |
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Monster Expands Presence in Online Advertising and Education Markets with Acquisition
NEW YORK--(BUSINESS WIRE)--May 9, 2006--Monster Worldwide, Inc. (NASDAQ: MNST), the parent company of Monster, the leading global online careers and recruitment resource, today announced that it has acquired PWP, LLC. PWP, a leading publisher of directory websites in the educational field, will be integrated into Monster Worldwide's Internet Advertising and Fees business segment, alongside FastWeb, Monsterlearning, and other online media and education-related properties. Monster intends to leverage its advertising sales operations, ad serving platform and existing client relationships to further grow PWP's directory businesses which connect prospective students with schools and colleges.
PWP owns thousands of education-related domain names and generates more than one hundred thousand 'student to school/college' referrals per month as well as having more than one million unique users per month who visit for the highly-relevant content and extensive listings of colleges and courses across a wide range of educational subjects and locations. PWP generated approximately $5 million in revenue in 2005 and was profitable - largely on the strength of its leading directory brands such as ArtSchools.com, BusinessSchools.com and CookingSchools.com.
Mark Stoever, SVP, General Manager of Monster's Internet Advertising and Fees business, said, "This transaction presents a tremendous opportunity to increase our presence in the education vertical, currently Monster's largest consumer advertising segment. The combination of PWP with Monster's FastWeb and learning products is expected to generate additional high-quality lead generation volume to our growing client base. We believe the acquisition is very timely given PWP's development. Joining Monster will provide extra resources to accelerate growth and more fully monetize traffic with an expanding list of advertisers. This acquisition highlights Monster's commitment to grow the Internet Advertising and Fees segment."
About Monster Worldwide
Founded in 1967, Monster Worldwide, Inc. is the parent company of Monster(R), the leading global online careers and recruitment resource. The company also owns TMP Worldwide, one of the world's largest Recruitment Advertising agency networks. Headquartered in New York with approximately 4,800 employees in 25 countries, Monster Worldwide (NASDAQ: MNST) is a member of the S&P 500 Index and the NASDAQ 100. More information about Monster Worldwide is available at www.monsterworldwide.com.
Special Note: Except for historical information contained herein, the statements made in this release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve certain risks and uncertainties, including statements regarding the Company's strategic direction, prospects and future results. Certain factors, including factors outside of our control, may cause actual results to differ materially from those contained in the forward-looking statements, including economic and other conditions in the markets in which we operate, risks associated with acquisitions, competition, seasonality and the other risks discussed in our Form 10-K and our other filings made with the Securities and Exchange Commission, which discussions are incorporated in this release by reference.
CONTACT: Monster Worldwide, Inc. Investors: Robert Jones, 212-351-7032 robert.jones@monsterworldwide.com or Media: David Rosa, 212-351-7067 david.rosa@monsterworldwide.com SOURCE: Monster Worldwide, Inc.
