E-mail-based direct marketer MessageMedia Inc., Boulder, CO, reported revenue of $753,527 for the first quarter of 1999. This is an increase of 168% over revenue of $280,669 for the same quarter last year.
The first quarter ended March 31.
The company attributed the increase in revenue over last year to “its strategic focus on its Internet-based e-mail messaging business,” according to a published statement. The company signed contracts with Mail.com and Standard & Poor’s during the first quarter.
Net loss for the first quarter of 1999 was $7 million, including a restructuring charge of $1.02 million related to merger integration and relocation of the company’s headquarters from San Diego to Boulder, and $3.1 million in amortization of goodwill associated with the acquisition of Email Publishing and Distributed Bits in 1998. These results compare with a net loss of $3.4 million for the first quarter of 1998.
In another development, MessageMedia has been chosen to electronically deliver targeted messages to GeoCities’ four million members each month.
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