2008 June 4th
WhitePages.com Agreement to Acquire Snapvine
Frequently Asked Questions
About the Agreement
What were the terms of the deal and how much did WhitePages.com acquire Snapvine for?
Snapvine will join WhitePages.com to combine their powerful voice technology platform with WhitePages.com's robust database and search capabilities, but the exact terms of the deal have not been disclosed. WhitePages.com has contact information for more than 180 million adults in its website and the company's revenue has been on a rapid growth trajectory since incorporation. WhitePages.com also received a $45 million infusion of growth equity funding in 2005. Leaders of both companies report that the acquisition will favorably position the company for future growth.
What interest does WhitePages.com have in Snapvine?
Snapvine has proven itself as an innovative leader in connecting people through voice over IP (VoIP) technology. Their expertise and powerful platform will literally give a voice to WhitePages.com's 180 million people and play a vital role in WhitePages.com's mission to help individuals search, find and connect through privacy-protected communication. By joining the robust search tools from WhitePages.com with the proven voice products from Snapvine, not only will you be able to search for and find someone at WhitePages.com, you'll soon have the power to connect with them via voicemail, e-mail or SMS at no cost and without jeopardizing the privacy of either party's contact information.
Will this deal result in any layoffs for WhitePages.com or Snapvine?
Both WhitePages.com and Snapvine value the contribution of all of their employees but there are likely to be some redundancies at Snapvine in certain sales and marketing positions post closing. There will be no layoffs at WhitePages.com. We plan to provide displaced Snapvine employees severance packages. Both WhitePages.com and Snapvine are working closely with the affected Snapvine employees to ensure a smooth and stable transition.
How Will This Affect Our Products?
How soon can we expect to see changes to WhitePages.com that utilize Snapvine's technology?
New features are scheduled to be rolled out within the next six months, including free voicemail and e-mail relay services. Both services offer text message notifications to people's cell phones and allow individuals to be contacted through WhitePages.com without publicly displaying their phone number or e-mail address.
How will Snapvine's technology help WhitePages.com connect individuals without revealing personal contact information?
Using Snapvine's VoIP technology, WhitePages.com has initial plans to develop a system that will allow adults to create a free, private voicemail box where others can leave messages without disclosing the recipient's home or cell phone number. A similar e-mail relay service is also planned that will allow consumers to have e-mails sent to them through a WhitePages.com-hosted relay system that masks the recipient's e-mail address. Both services will include free notifications via text message to people when they receive a new e-mail or voice message.
Will registered Snapvine users automatically have their contact information listed on WhitePages.com?
How Will This Affect Our Business?
What role will Snapvine CEO Joe Heitzeberg have at WhitePages.com?
Joe will become vice president in charge of the new Communication Product Development Division, bringing along his existing developer team that will integrate the powerful Snapvine voice technology platform into WhitePages.com's products and services, and will explore new ways to help people connect with others through WhitePages.com. He will report to WhitePages.com founder and CEO Alex Algard. The Snapvine development team will remain in tact and report directly to Joe.
Will WhitePages.com explore the social media arena, an area where Snapvine has done extremely well?
Without question, social media is a powerful arena and Snapvine's expertise in the area will help WhitePages.com further-engage our consumers and expand our capabilities. While Snapvine will continue to offer its popular widgets and social media services, WhitePages.com's immediate focus will remain on finding and connecting people using phone, e-mail and physical address information.
How will this deal affect WhitePages.com advertisers?
Advertisers on WhitePages.com will not only receive the same quality exposure they've come to expect, but they will also benefit from the added services and advertising opportunities provided by WhitePages.com's new products.
Is WhitePages.com planning other acquisitions?
WhitePages.com always has a keen eye on how we can improve and grow our business, but we have no other immediate acquisition plans at this time.
Does this acquisition mean WhitePages.com is getting ready for an IPO?
No. The acquisition of Snapvine is directly related to the value of their technology platform and their expertise in VoIP technology, both of which are key components to our mission of connecting people. Any discussion of an IPO would be premature. WhitePages.com remains focused on providing great products for its users and the acquisition of Snapvine is a key piece in that strategy.
What is Snapvine?
Snapvine brings voice and mobility to social networks through a powerful voice communication platform. Using the Snapvine Voice Player, people are able to safely communicate with others in their own voices. Unlike similar services that require expensive handsets and complicated downloads, Snapvine's easy-to-use products work on any cell phone with any carrier. The Snapvine Voice Player launched in 2007 has over 6 million registered users, and is a top widget on MySpace. Over 400 million audio plays and 20 million calls have been processed through the Snapvine platform.
Why did Snapvine agree to be acquired by WhitePages.com?
Snapvine has turned down other acquisition offers in the past, but WhitePages.com's culture, vision and status as the leading provider of personal and business contact information make it the perfect partner for Snapvine to apply its technology on a grand scale and connect people in innovative new ways.
What will happen to the Snapvine brand and its services?
WhitePages.com has no immediate plans to alter the Snapvine brand or its services. Snapvine will continue to offer the award-winning services millions of people now enjoy.
How many employees does Snapvine have and how will they be integrated with WhitePages.com?
Snapvine currently has 25 employees. A majority of those employees which include their talented developer team will form WhitePages.com 's new Communication Product Development Division which will be a wholly owned subsidiary, and begin work soon after the acquisition is finalized.
Will Snapvine relocate their operation?
The current Snapvine office will close and Snapvine's staff will join the WhitePages.com team at their office in downtown Seattle.
For more information, press only:
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