CNN Interactive and Captivate Network Sign Content Alliance

Business Wire, Oct 2, 2000

Business/Technology Editors

WESTFORD, Mass.--(BUSINESS WIRE)--Oct. 2, 2000

CNN Interactive Content Will Reach More Than 1.5 Million Business

Professionals Through Captivate's Office Tower Elevator Network

CNN Interactive and Captivate Network, Inc., a new media company that delivers content and advertising via wireless Internet technology to elevators, have signed an alliance that enables Captivate's growing network of elevator screens to display select news and information from CNN's award-winning Web site, CNN.com.

"CNN Interactive is committed to continuing to provide unparalleled global news coverage anytime and anywhere that it is convenient for users," said Scott Woelfel, president and editor in chief of CNN Interactive. "This alliance with Captivate allows CNN Interactive to deliver news content with the highest journalistic standards to an even larger audience."

"Captivate is thrilled to offer CNN Interactive's powerful content on its nationwide network of elevator screens," said Michael DiFranza, president and chief executive officer of Captivate Network, Inc. "Companies are seeking innovative new ways to reach business professionals throughout the day and feel that `elevator time,' the 20 to 30 minutes per week that many professionals spend traveling in the elevator to and from the office, enables them to gain greater access to this valuable demographic. By providing quality news and information from sources business professionals trust such as CNN, Captivate can bridge the gap during this time."

Captivate is deploying a network of high-resolution flat panel silent screens that can be seen in the elevators of Class A office towers nationwide. Almost 80 buildings have the screen installed in Boston, Chicago, Dallas, Houston, Los Angeles, New York City, San Francisco, and Stamford, Conn., and 420 more are under contract across the country. When the network is fully deployed, Captivate will reach 3 million to 4 million people and deliver 66 million impressions daily.

The editors at Captivate Network's production center format materials supplied by content providers to create each Captivate screen. The company's Intelligent Building Server(TM) pulls the content and advertising addressed to a particular location, and programming is delivered to the elevators via a wireless network. Each image is on a Captivate screen for l0 seconds, and information is updated every 20 minutes throughout the day. Captivate has developed patented, proprietary hardware and software, and uses state-of-the-art components and newly available technology to edit and deliver content. For those wanting more information on what is displayed in the elevators, Captivate Network recently launched a Web site, Captivate.com

CNN Interactive is responsible for the award-winning news site CNN.com, as well as 12 other Web sites and the distribution of CNN news content via other platforms such as mobile phones. The CNN sites, which include eight international sites, are among the world's leading news and information destinations and are ranked the most trusted by Internet users worldwide. The CNN sites rank number one in Gross Usage Minutes among all online news sites. Gross Usage Minutes are an industry metric derived by multiplying unique users by time spent per user. The CNN Web sites produced 130,691,000 Gross Usage Minutes for August 2000.

Captivate Network, Inc. (http://www.captivatenetwork.com), the new media company that is bringing the Internet to the elevator, was founded in October 1997 and is privately held. Dedicated to providing business professionals with quality programming and advertising though its network of class A office towers nationwide, the company has secured approximately 500 buildings to date. Current venture capital investors include ABS Capital Partners, Advent International, Olympic Venture Partners, Primus Venture Partners, Inc., AEW Capital Management, as well as several of the nation's largest commercial real estate companies. The company is headquartered in Westford, Mass., and currently employs 120 people, with plans to expand to 155 by year-end.