QuinStreet and AutoWeb Announce Strategic Relationship to Support Car Buyers
Collaboration Designed to Enable Consumers to Minimize Total Cost of Car Ownership
Foster City, Calif. – October 7, 2020 – QuinStreet, Inc. (Nasdaq: QNST), a leader in performance marketplace products and technologies, and AutoWeb, Inc. (Nasdaq: AUTO), a robust digital marketing platform providing digital advertising solutions for automotive dealers and OEMs, today announced a strategic relationship to provide AutoWeb’s visitors with access to QuinStreet’s online car insurance search capabilities and solutions, enabling consumers to easily compare and shop for the best auto insurance policies for the cars they are interested in buying. The solutions leverage QuinStreet’s best-in-class insurance information and provide car shoppers with real- and near-time access to insurance products to optimize the cost of car insurance. The companies plan to expand the relationship over time to include comparison shopping for loans, credit cards and other relevant products.
Historically, car buyers have shopped online or in-person to research the best value on an auto purchase, then conducted an entirely separate research process to locate the best insurance coverage for that car. Failing to factor auto insurance into the cost of car ownership can result in overall expenses that are higher than expected. Insurance rates can vary greatly, based upon factors including a driver’s ZIP Code, age, driving history and vehicle make and model. Now, prospective car buyers using AutoWeb digital properties can easily access QuinStreet’s auto insurance marketplace products to research and compare options when they identify a vehicle of interest.
“As we are constantly evolving our product offerings to support the needs of dealers, OEMs and consumers, we can add real value to the car-buying process by supplying as much relevant information as possible when shoppers research potential purchases,” explains Dan Ingle, COO of AutoWeb. “By seamlessly providing the information shared when requesting vehicle pricing, we are able to facilitate convenient access to QuinStreet’s leading car insurance comparison tool.”
“AutoWeb provides an engaging and informative user experience for consumers during the car-buying process,” notes Brett Moses, QuinStreet’s senior vice president, publisher media. “Incorporating access to QuinStreet’s car insurance shopping products enhances customer service and facilitates a shift in insurance purchase decision-making so that the cost is factored in at the front end, rather than as an afterthought.”
About QuinStreet, Inc.
QuinStreet, Inc. (Nasdaq: QNST) is a pioneer in delivering online marketplace solutions to match searchers with brands in digital media. QuinStreet is committed to providing consumers and businesses with the information and tools they need to research, find and select the products and brands that meet their needs. To learn more about integrating QuinStreet marketplace products, contact Adrian Lee at email@example.com or complete a Contact Us form here: https://www.quinstreet.com/our-products/
About AutoWeb, Inc.
AutoWeb, Inc. provides high-quality consumer leads, clicks and associated marketing services to automotive dealers and manufacturers throughout the United States. The company also provides consumers with robust and original online automotive content to help them make informed car-buying decisions. The company pioneered the automotive Internet in 1995 and has since helped tens of millions of automotive consumers research vehicles; connected thousands of dealers nationwide with motivated car buyers; and has helped every major automaker market its brand online.
Forward-Looking Statements Disclaimers
This press release and its attachments contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 that involve risks and uncertainties. Words such as "estimate", "will”, "believe", “expect”, "intend", “outlook”, "potential", “promises” and similar expressions are intended to identify forward-looking statements. These forward-looking statements include the statements in quotations from management in this press release, as well as any statements regarding the Company's anticipated financial results, growth and strategic and operational plans. The Company's actual results may differ materially from those anticipated in these forward-looking statements. Factors that may contribute to such differences include, but are not limited to: the impact from risks and uncertainties relating to the COVID-19 pandemic; the impact of changes in industry standards and government regulation including, but not limited to investigation or enforcement activities of the Federal Trade Commission and other regulatory agencies; the Company’s ability to maintain and increase client marketing spend; the Company's ability to maintain and increase the number of visitors to its websites and to convert those visitors and those to its third-party publishers' websites into client prospects in a cost-effective manner; the impact of the current economic climate on the Company's business; the Company's ability to access and monetize Internet users on mobile devices; the Company's ability to attract and retain qualified executives and employees; the Company's ability to compete effectively against others in the online marketing and media industry both for client budget and access to third-party media; the Company's ability to identify and manage acquisitions; and the impact and costs of any alleged failure by the Company to comply with government regulations and industry standards. More information about potential factors that could affect the Company's business and financial results are contained in the Company's annual report on Form 10-K and quarterly reports on Form 10-Q as filed with the Securities and Exchange Commission ("SEC"), including the Company's annual report on Form 10-K for the fiscal year ended June 30, 2020 filed with the SEC on August 28, 2020. The Company does not intend and undertakes no duty to release publicly any updates or revisions to any forward-looking statements contained herein.
The statements contained in this press release that are not historical facts are forward-looking statements under the federal securities laws. Words such as “anticipates,” “could,” “may,” “estimates,” “expects,” “projects,” “intends,” “pending,” “plans,” “believes,” “will” and words of similar substance, or the negative of those words, used in connection with any discussion of future operations or financial performance identify forward-looking statements. In particular, statements regarding expectations and opportunities, new product expectations and capabilities, projections, statements regarding future events, and our outlook regarding our performance and growth are forward-looking statements. These forward-looking statements, including, that Quinstreet and AutoWeb plan to expand the relationship over time to include comparison shopping for loans, credit cards and other relevant products, are not guarantees of future performance and involve assumptions and risks and uncertainties that are difficult to predict. Actual outcomes and results may differ materially from what is expressed in, or implied by, these forward-looking statements. AutoWeb undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ materially from those expressed in, or implied by, the forward-looking statements are changes in general economic conditions; the financial condition of automobile manufacturers and dealers; disruptions in automobile production; changes in fuel prices; the economic impact of terrorist attacks, political revolutions or military actions; failure of AutoWeb’s internet security measures; dealer attrition; pressure on dealer fees; increased or unexpected competition; the failure of new products and services to meet expectations; failure to retain key employees or attract and integrate new employees; actual costs and expenses exceeding charges taken by AutoWeb; changes in laws and regulations; costs of legal matters, including, defending lawsuits and undertaking investigations and related matters; and other matters disclosed in AutoWeb’s filings with the Securities and Exchange Commission. Investors are strongly encouraged to review the company’s Annual Report on Form 10-K for the year ended December 31, 2019 and other filings with the Securities and Exchange Commission for a discussion of risks and uncertainties that could affect the business, operating results or financial condition of AutoWeb and the market price of the AutoWeb’s stock.
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