Wasting no time in snatching up a company, Cybergold Inc. acquired SmartFrog.com Inc., a privately-held
Net company specializing in cash-back rewards for frequent-buyers.
SmartFrog.com is Cybergold’s first business acquisition, following less
than two months after Cybergold’s (CGLD)
initial public offering.
SmartFrog.com brings Cybergold the technology and expertise behind its
innovative cash back program at more than 100 online shopping sites
including jcrew.com, CDNOW, and borders.com.
SmartFrog.com co-founders Peter Bauert and Scott Lenet will both join
Cybergold’s executive team.
“This acquisition reinforces our commitment to help advertisers offer the
best deals to consumers,” said Nat Goldhaber, president and CEO of
Cybergold Inc.
“Cybergold’s cash incentives are proven and cost-effective
for drawing new customers to products and Web sites. SmartFrog extends our
cash-reward model to include cash rebates for purchases made from more than
a hundred retailers. We respect the innovative work done by SmartFrog and
decided to make them a part of the family.”
Cybergold is a leading provider of Net-based direct marketing and
advertising solutions, including incentive programs
which reward consumers with cash for responding to ads and programs.