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Mall Networks Announces Record Revenues for Fiscal Year 2008
Market leader in merchant-funded loyalty shopping triples revenue with 16 new clients
LEXINGTON, Mass. - May 28, 2008 - Mall Networks, the leading provider of merchant-funded loyalty shopping solutions, today announced record revenues for fiscal year 2008, which ended March 31, 2008. Mall Networks acquired 16 new customers, more than doubling the customer base and tripling company revenue. Fiscal 2008 was highlighted by incredible revenue growth and client adoption, innovative product releases, differentiated client launches, numerous awards, and key management hires.
Fiscal 2008 Highlights:
- 16 new clients including Chase, Verizon, Spirit Airlines, and Virgin Healthmiles.
- Launch of Chase Rewards Plus, a best-in-class merchant-funded online shopping program reaching millions of cardmembers across Chase's rewards card portfolios, including Chase Freedom.
- Launch of new in-store loyalty shopping offerings that enable credit card issuers, financial institutions and other loyalty programs to offer their customers and members the opportunity to earn bonus rewards whenever they shop at hundreds of national, regional and local merchants and retailers.
- Expansion of merchant network to more than 600 leading online merchants, 200+ leading in-store and catalog merchants with more than 100,000 locations, and 8,000 restaurants.
- Record-setting traffic and sales at Cybermonday.com with 1.5 million visitors on the Monday after Thanksgiving, in partnership with shop.org, the online retail federation.
- Industry recognition and awards including: 2007 Product of the Year Awards from Customer Interaction Solutions and Communications Solutions; Bank Technology News' One of The Top 10 Tech Companies to Watch; Web Marketing Association WebAward for Excellence in Non-Profit Web Sites, and WebAward for Excellence in Online Shopping Sites; Venture Summit East AlwaysOn Northeast 100 Top Private Company Award; and 2008 CRM Excellence Award from Customer Interaction Solutions Magazine.
- Key management hires with experience at American Express, MBNA, Kessler Group, Epiphany, Siebel, Unica, and Razorfish.
- Relocation to new global headquarters to accommodate rapid and ongoing growth and expansion.
"Our record-setting revenues reflect the incredible adoption of our solutions and the success of our clients," said Dave Andre, president and CEO of Mall Networks. "We head into fiscal 2009 with clear product leadership, a world-class management team, a blue chip roster of clients and tremendous overall momentum."
About Mall Networks
Mall Networks is the leading provider of merchant-funded loyalty shopping solutions that increase revenue, strengthen customer loyalty, and improve member engagement for a range of industries including financial services, card issuers, airline and hospitality, affinity organizations and loyalty programs. Featuring an integrated network of more than 700 world-class online and bricks-and-mortar merchants, Mall Networks' multi-channel shopping solutions and flexible, on-demand platform power personalized online and in-store shopping programs for more than 30 million consumers. Industry leaders including JPMorgan Chase, Upromise, Verizon, Shop.org, Spirit Airlines, Virgin, and NASCAR rely on Mall Networks to build loyal, profitable customer relationships. Mall Networks is headquartered in Lexington, Mass. For more information, visit www.mallnetworks.com.
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Mall Networks Contact:
Amy Paladino
PalPR
Phone: 781.772.1005
Email: amypal@comcast.net
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