SAN FRANCISCO, May 29, 2003 - CNET Networks, Inc. (Nasdaq: CNET) today announced that it's CNET Channel business (www.cnetchannel.com) won the prestigious 2003 Wharton Infosys Business Transformation Award's (WIBTA) "Jury's Recognition Award," presented last night during a ceremony at the Waldorf Astoria hotel in New York. CNET Channel received this recognition for its success in transforming the IT supply channel through its standardized electronic product data, which enables efficient, seamless commerce across the IT supply chain.
The WIBTA (http://www.infy.com/WIBTA/default.htm) honors organizations that have transformed their business or industry through the creative application of technology. Cutting across industries, these awards showcase best practices of using technology to create new business paradigms. The WIBTA is presented by the William and Phyllis Mack Center for Technological Innovation at the Wharton School of the University of Pennsylvania and Infosys Technologies.
"CNET Channel is a wonderful example of a company that uses IT to enhance its basic offerings," said Esther Dyson, chairman of EDventure Holdings and one of seven judges for the award. "In the past five years, while many 'B2B commerce' companies were trying to build software solutions for companies who had already figured out how to do business for themselves, CNET understood that what the market lacked was not software but standardized product data that could support efficient, seamless commerce across the IT supply chain. Today, CNET Channel is one of the few e-commerce players who have established standards for an industry. Its data -- standardized, up-to-date product information -- has become the language of trade for tech resellers and distributors worldwide, removing enormous friction from the sales process."
CNET Channel is the only independent source of structured, standardized, multi-market and multilingual product information for electronic product catalogs in the IT industry. Its content-centric solutions are based on a unique database of technology product specifications containing over 1.5 million product units from more than 5,000 vendors in 40 markets and 12 languages. Today, the leading computer manufacturers, distributors, resellers, portals, and e-tailers rely on CNET Channel solutions. It is estimated that more than 150 million buyers and users, responsible for billions of dollars in high-tech expenditures, make use of CNET Channel's database of product specifications each month.
"This recognition by the business experts at Wharton and Infosys, and their prestigious jury, is a high-caliber endorsement of our success as a key enabler in the IT supply channel," said Neil Ashe, CNET Networks senior vice president, strategy and development, who oversees CNET Channel. "We're extremely pleased with this outcome."
About CNET Networks, Inc.
CNET Networks, Inc. (Nasdaq: CNET, www.cnetnetworks.com) is an interactive media company that builds brands for people and the things they are passionate about, such as gaming, music, entertainment, technology, business, food, and parenting. The Company's leading brands include CNET, GameSpot, TV.com, MP3.com, CHOW, ZDNet and TechRepublic. Founded in 1992, CNET Networks has a strong presence in the US, Asia, and Europe.