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Snapfish.com Earns Coveted Award for Innovative Business Model from Internet World Magazine

SAN FRANCISCO - April 13, 2000 - Snapfish.com today announced that the company earned the "Most Innovative Business Model from a Startup in 1999" award at Spring Internet World 2000. Snapfish.com is the only end-to-end photo service that offers free processing, printing, digitizing and online storing and sharing. Chosen by the editors of Internet World magazine, a Penton Media publication, the Spring Internet World 2000 Industry Awards recognize the people and the companies who have pioneered Internet business.

Snapfish.com's unique business model differentiates the company within the online photography market. The company offers traditional 35 mm film camera users the ability to process, print, digitize, store and share their images online for free. For every roll of 35mm film, members receive a free set of 4-by-6 inch prints on Kodak paper, their negatives and free online sharing. Snapfish.com also caters to the growing market of digital camera users, making uploading, printing, sharing and storing their images fast and effortless.

Snapfish.com pioneered a new model of 'leveraged commerce,' in which Snapfish.com generates multiple transactions from a single source - in this case, a photograph. Snapfish.com earns revenue when members order reprints and enlargements of their favorite photos, without the hassle of sorting the negatives, taking them to a photo lab and driving back to pick up the prints. When members select the option to share the photos with friends and family, those users can view the photos and order prints direct from Snapfish.com.

Soon, members will be able to create high-quality personalized gifts such as coffee mugs, t-shirts and picture frames featuring their favorite images. An extensive network of sponsors who provide targeted, unobtrusive advertising on the site also supports the revenue model.

"The Snapfish.com business model revolves around the viral and personal nature of photographs," said Raj Kapoor, CEO and co-founder of Snapfish.com. "Our members want to share their photos with friends and family - and each time they do, Snapfish.com gains several new members and revenue potential based on leveraged commerce."

About Snapfish.com
Snapfish.com is positioned to dramatically redefine the consumer photography market by providing the first complete photo service that offers film developing, printing, storing and sharing online, all for free. Snapfish.com will provide both film-based and digital camera users with the ability to seamlessly and effortlessly share, store and order reprints with unsurpassed security.

Privately held and backed by @Ventures, the affiliated venture capital arm of CMGI, Mayfield Fund and private investors, Snapfish.com is headed up by a management team of seasoned, second-generation Internet leaders from companies such as Excite@Home and Cisco Systems.

Snapfish.com has a strategic partnership with District Photo, the nation's largest mail order photo finishing lab, with more than 50 years of experience in the market. Snapfish.com uses Kodak (NYSE: EK) paper and materials for all of its processing.

With consumer photography representing a $14.20 billion market in the U.S. alone, Snapfish.com is poised to provide consumers with breakthrough benefits in online photography and reinvent an enormous consumer category in the process. The company is based in San Francisco, California. Additional information is available at the company's Web site at http://www.snapfish.com.

About Internet World
Internet World is the business-to-business trade publication of the Internet industry. The magazine covers the intersection of business strategy and Internet technology, delivering decision-support information to business and technical executives and managers who drive their companies' e-business initiatives. In addition to the U.S. edition with a controlled circulation of 175,000 Internet professionals, Internet World has eight international editions, which are read by Internet professionals in 20 countries, on five continents. Internet World is a BPA-audited and Intelliquest-measured publication.

About Penton Media
Internet-related Penton properties include Internet World magazine and Internet World events worldwide, ISPCON, Boardwatch and CLEC magazines. Penton Media, Inc. (NYSE: PME) is a leading diversified business media company that publishes magazines and electronic information products, produces trade shows and conferences, and provides marketing and business development products and services, including direct mail lists, research and custom publishing. Penton serves the Internet/IT; design/engineering; electronics; food/retail; government/compliance; leisure/hospitality; management; manufacturing; mechanical systems/construction; and supply chain/aviation markets.

 
 
 
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