Merger Set To Revolutionize Internet Search In NZ

Media Release 4 April 2007

MERGER SET TO REVOLUTIONIZE INTERNET SEARCH IN NEW ZEALAND

APN Infomedia and finda have merged to create New Zealand’s leader in local search, with a highly localised and searchable database of nearly a quarter of a million Kiwi businesses and more than 600,000 unique visitors each month.

Together, these locally grown businesses are positioned to dominate the local search market and overtake the traditional, Yellow Pages-style online directories.

The new company, apnfinda Ltd, will be 50% owned by Shane Bradley, the founder of finda.co.nz, and 50% owned by APN, one of New Zealand’s largest media companies.

As apnfinda’s Chief of Products, Mr Bradley will use his industry knowledge and entrepreneurial flair to further develop the company’s already advanced search engines and associated online products.

Dwayne Alexander will serve as CEO, utilising the vast media resources of APN to improve and promote the apnfinda web properties.

apnfinda will operate three websites with a business-to-consumer focus: finda.co.nz, a community-focused business site that provides free advertising listings and reviews for users; the award-winning wises.co.nz map site; and the business-to-business directory UBD.co.nz. apnfinda also owns the business database apndata.co.nz. Combined, the search engines own more than 220,000 listings, making the business database the most comprehensive in New Zealand. With its consolidation of online products, apnfinda now services more than 600,000 unique visitors each month.

Mr Alexander said that part of the impetus for the joint venture was that New Zealanders had not received adequate service from existing providers. “All over the world there’s a shift towards specialized local or vertical search that provides more relevant results .We found in our research that the existing online media players in New Zealand weren’t meeting this demand.

“For users, the size of our database will produce better and more relevant search results, and for businesses, the broad appeal of our sites will deliver the results they want. It’s a win/win for business and consumers.”

The international trend towards local search was prompted by general search’s failure to accommodate the human element, Mr Alexander said. “Local search allows for greater nuance and detail. In talking to internet users, we have found that when people are trying to find something on the internet, ‘where’ is often as important as ‘what’.”

“Local search is the next big thing in the internet, and apnfinda is bringing this to the New Zealand market in the same way that TradeMe successfully introduced internet auctions”, Mr Bradley said. “Offshore companies are recognizing the enormous opportunities in the New Zealand online sector,” he added, “but as a local home-grown company, apnfinda has the advantage of existing strong relationships with New Zealand business.”

Mr Alexander said that apnfinda was a true online company that was creating a new market in New Zealand. The internet is moving far ahead of other media in terms of innovation, technology, and providing fast service at low cost, he said, with apnfinda leading the charge in New Zealand.

“The marketplace is in a state of flux right now with the recent sale of Yellow Pages, so there’s quite a shakedown happening. The online business is all about taking opportunities, and with the big players consolidating and moving offshore, the time is right for us to present ourselves to New Zealanders.”

apnfinda’s unique strength was in its combination of the successful Wises and apndata services with Finda’s fighter-brand, entrepreneurial spirit, Mr Bradley said. “What this means for business and consumers is that we can offer a better product than our competitors at significantly extra value through the rate card, with increased exposure for advertisers.”

apnfinda would dominate the competition in the local online market by rolling out new products and improving the features and functionalities of existing sites over the coming months, Mr Bradley said. He noted that the joint venture had created a simplified, best-of-breed IT platform to build from, with an innovative, evolving interface in which anything can be searched for and found.

The apnfinda team is preparing for a booming 2007, with the first wave of developments being a roll-out of new products in May. “We’re also looking to grow our relationships with New Zealand business,” Mr Alexander said. “We’ve just sponsored the Marketing Association, and we’re also a major sponsor of the Small Business Expo in Auckland.

“Both APN and Finda have always had a strong ethos of helping business to reach and serve consumers, and with the founding of the new company we’re looking forward to taking that to the next level.”

-ends-

About apnfinda

apnfinda Ltd, a joint venture with APN Online established in February 2007, owns the business directory, mapping and data services sites www.finda.co.nz, www.wises.co.nz, www.UBD.co.nz, and www.apndata.co.nz. The sites have an online audience of more than 600,000 unique visitors per month. apnfinda’s business database is the most comprehensive in New Zealand, with 220,000 listings.

© Scoop Media