FRAMINGHAM, Mass.--(BUSINESS WIRE)--April 29, 1997--
Top Internet navigation center launches new initiative to
facilitate -- and participate in -- Web-based commerce
Leading Internet navigational center Lycos, Inc. (NASDAQ: LCOS), today announced the appointment of F. David Chesnik as Director of Electronic Commerce.
As Retail Marketing Manager at Valvoline, a division of Ashland Oil, Inc., Chesnik was responsible for sales, marketing, promotional, and product aspects of three of the top-ten national account customers of the company. Chesnik has extensive experience in selling through multiple distribution channels including direct, national account, and distributor sales, in addition to major experience implementing EDI-based systems.
"According to major market analysts, the Internet commerce market is estimated to reach $8-10 billion by the year 2000," said Business Development Director Jeff Crown, who will also take a leading role in developing Lycos' commerce strategy. "Lycos has unique competencies in understanding user behavior and Internet navigation, and these strengths will factor strongly into our ability to partner with major players to drive aggressive commerce and online retailing initiatives."
Crown will continue to manage strategic business development accounts and will also apply experience in developing strategy and creating powerful business alliances as he initiates new commerce opportunities for Lycos. Chesnik will contribute extensive research, analysis and business planning skills to the process, leveraging his knowledge of consumer shopping habits to facilitate transactional opportunities on lycos.com .
"We are very pleased to bring on board a professional like Dave," added Jan Horsfall, VP of Marketing at Lycos. "His background in consumer marketing and in facilitating the buyer-seller relationship will stimulate Lycos' ability to implement a highly advanced strategy, in both the short- and long-terms. The strategic platform he and Jeff Crown bring us will serve as the foundation for our future transactional steps. This third revenue stream will extend our already positive trends in advertising sales and in licensing our content and technology."
Lycos, Inc. (NASDAQ: LCOS) is an ever-expanding global Internet navigation center excelling in finding and managing relevant information on the Internet and World Wide Web. Besides the world-renowned Lycos search and spidering technology covering over 70 million URLs, Lycos offers 18 Lycos WebGuides -- Internet activity centers within the Lycos service where users can choose from an exciting range of information resources. Other Lycos navigational-assistance services include Lycos Top 5%, award-winning reviews of popular web sites voted #1 by Internet World Magazine; Lycos StockFind, Lycos PeopleFind, Lycos International City Guides, Lycos Road Maps, GTE Yellow Pages, Lycos/Dun & Bradstreet CompaniesOnline -- and other ease-of-life information tools. Lycos can be found on the Web at http://www.lycos.com/. Headquartered in Framingham, Massachusetts, Lycos has U.S. offices in New York City, Pittsburgh, San Francisco and an international office in Munich, Germany.
CMG Information Services, Inc. (NASDAQ: CMGI) is a majority shareholder in Lycos, Inc. through its strategic investment and development business unit, CMG@Ventures. CMGI is a leading provider of direct marketing services investing in and integrating advanced Internet, interactive media and database management technologies. -0-
Lycos (c). All rights reserved. Lycos is a registered trademark of Carnegie Mellon University. All other product or service marks mentioned therein are those of respective owners.
CONTACT: Lycos, Inc.
Sarah Garnsey
508-424-0400
sgarnsey@lycos.com
or
Mullen Public Relations
Erin Flynn
508-468-1155
eflynn@mullen.com
or
Lycos, Inc.
Jeff Crown
508-424-0400
jcrown@lycos.com
or
F. David Chesnik
508-424-0400
dchesnik@lycos.com
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