Greenfield Online, No. 1 Internet-Based Marketing Research Firm, Bought By Management

Business Wire, May 26, 1999

WESTPORT, Conn.--(BUSINESS WIRE)--May 26, 1999--

The management team of Greenfield Online Inc. has purchased the company from Andrew Greenfield, it was announced today by Rudy Nadilo, president and chief executive officer.

Details of the private transaction were not disclosed.

Funding for the buyout included the support of a blue-chip investment group led by the respected New York venture firm of InSight Capital Partners. The group includes Forrester Research; Burt Manning, former chairman and CEO of J. Walter Thompson Advertising; Stephen Friedman, former chairman of Goldman, Sachs & Co.; UBS Capital and Wexford Management LLC.

Founded in 1994, Greenfield Online is the acknowledged pioneer in using the Internet for marketing research. The company has grown to more than 50 employees with offices in Westport and San Francisco, Revenue for 1999 is growing by roughly 30 percent per quarter and is running at an annual rate of more than $10 million.

"With this transaction, Greenfield Online now has the financial strength to further enhance their leading-edge systems, attract and retain outstanding people and to continue their advanced work in online marketing research," said Jeffrey Horing, senior partner at InSight Capital.

"Now more than ever, we are dedicated to -- and capable of -- delivering extraordinary Internet-based marketing research solutions. Our unique services keep us on the cutting edge of what we call the Research Revolution(TM), enabling us to provide our clients with the best, fastest, richest, most accurate and most actionable information," Nadilo stated.

He pointed out that the new funding will also be used to expand the Greenfield Online Internet-user panel into Europe, Asia and other international markets. "That way we can serve the vital marketing research needs of global clients in consumer goods and industrial products, as well as the growing numbers of businesses directly involved with generating revenue through the Internet," Nadilo said.

"Greenfield Online is delivering right now what was once only a dream: To gather marketing data with the speed and cost-efficiency of the Internet," said Burt Manning, former chairman and CEO, J. Walter Thompson Advertising.

George Colony, president and CEO, Forrester Research notes that Greenfield Online has "solid expertise in marketing research, leading-edge technology, a great track record and an even-brighter future."

Concluding his comments, Greenfield Online CEO Nadilo said: "With the critical additional support we now have, we are able to move ahead with 100 percent dedication to focus on building our leadership position in Internet-based research for virtually any marketer. We look forward to serving our hundreds of blue-chip clients with the speed, efficiency and quality of information they know Greenfield Online is uniquely structured to provide."

About Greenfield Online

Greenfield Online Inc. is the pioneer marketing research firm conducting marketing research on the Internet as a faster, better way to gather facts and opinions. Established in 1994, the company is headquartered in Westport with an office in San Francisco.

The management team is headed by Nadilo and includes: Stephen J. Cook, senior vice president -- client development, and the following vice presidents: Brin Bell, business development; Alastair Bruce, client development; Hugh Davis, cool technology, and Susan Rosovsky, client services.

In addition to custom client research, Greenfield Online conducts the following ongoing marketing research studies: -0-

--   Digital Consumer(TM) Shopping Index. A quarterly measurement of
     the percentage change in types of products, services, channels
     and general patterns in online shopping activities tracked by
     specific items and consumer profiles.
--   Digital Living Room Consumer Survey. Reveals how lifestyles and
     household habits are changing as digital technology becomes more
     pervasive in the home.
--   Pulsefinder(TM) On-Campus Market Study. Taps the largest college
     student marketing research database in America to study brand
     loyalties, media habits and newfound buying power of 14  million
     college students.
--   Lesbian & Gay Market Study. Taps the largest lesbian and gay
     online marketing research database in America for current
     demographics, lifestyles and attitudes of this large and
     important consumer market.

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For additional information about Greenfield Online and its services, please call Liana Hawes at Phase Two Strategies 212/530-7542 or visit the company's Web site at http://www.greenfieldcentral.com.