NEW YORK, NY - December 13, 2002 - LivePerson, Inc. (NASDAQ: LPSN), a leading provider of technology facilitating real-time online customer interaction, today announced that it had retained Genesis Select Corp. to initiate a comprehensive institutional investor relations program. Based in Boulder, Colorado, Genesis Select will work closely with LivePerson to attract portfolio managers, buy-and sell-side analysts and the investment community at large to the company's business potential, based upon the company's growing market opportunity and solid cash position. Genesis will communicate to Wall Street the company's investment merits driven by a growing recurring revenue stream that distinguishes LivePerson from its peers.
"Genesis Select has developed a solid track record of performance in the institutional arena by finding interested portfolio managers and analysts for their portfolio clients," said Robert LoCascio, CEO of LivePerson. "They have demonstrated the ability to attract institutional investors to micro-cap companies with improving fundamentals and a strong management team. LivePerson fits those criteria well."
"We are delighted to work with LivePerson," said Budd Zuckerman, president of Genesis Select Corp. "LivePerson provides real-time software solutions for online sales, customer service and marketing. The company's high-margin suite of products drive compelling ROIs for a blue chip customer base in the financial services, retail and telecommunications industries. The company has growing revenues and has been EBITDA positive since December of 2001. Companies that offer clients an immediate payback by increasing sales while reducing service costs are of great interest to the investment community."
LivePerson ( www.liveperson.com ) is a leading Application Service Provider (ASP) of technology facilitating real-time sales, customer service and marketing solutions for companies doing business on the Internet. The LivePerson service enables online businesses to communicate with Internet users in real time, thereby enhancing the online experience. LivePerson offers clients the opportunity to increase sales, reduce customer service costs and increase responsiveness to customer needs. The company serves EarthLink, QVC, eBay, Ameritrade, American Airlines Credit Union and over 3,000 other clients. LivePerson is headquartered in New York City, with R&D facilities in Tel Aviv, Israel.
About Genesis Select Corp.
Genesis Select Corporation ( www.genesisselect.com ) is an independent investment advisory and financial communications firm that specializes in micro through mid-capital public companies. The firm's senior professionals integrate knowledge and expertise gained over 60 years at prominent Wall Street firms. Genesis Select works closely with clients to maximize shareholder value through strategic institutional investor relations and financial communications programs.
Forward Looking Statements:
Statements in this press release regarding LivePerson, Inc. that are not historical facts are forward-looking statements and are subject to risks and uncertainties that could cause such statements to differ materially from actual future events or results. Any such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. It is routine for our internal projections and expectations to change as the quarter progresses, and therefore it should be clearly understood that the internal projections and beliefs upon which the Company bases its expectations may change prior to the end of the quarter. Although these expectations may change, we are under no obligation to inform you if they do. Our company policy is generally to provide our expectations only once per quarter, and not to update that information until the next quarter. Actual events or results may differ materially from those contained in the projections or forward-looking statements. The following factors, among others, could cause LivePerson's actual results to differ materially from those described in a forward-looking statement: our possible delisting from the Nasdaq Small Cap Market; the limited history of providing the LivePerson services; our limited historical annual revenue and history of losses; the possible unavailability of financing as and if needed; an unproven business model; our dependence on the success of the LivePerson chat service; continued use by our clients of the LivePerson services; potential fluctuations in our quarterly and annual results; risks related to adverse business conditions experienced by our clients; our dependence on key employees; risks related to our international operation, particularly our operations in Tel Aviv, Israel, and the current civil and political unrest in that region; competition both for qualified personnel and in the market for real-time sales and customer service technology; building awareness of the LivePerson brand name; technology systems beyond LivePerson's control and technology-related defects that could disrupt the LivePerson services; our dependence on the growth of the Internet as a medium for commerce and the viability of the infrastructure of the Internet; and responding to rapid technological change. This list is intended to identify only certain of the principal factors that could cause actual results to differ from those discussed in the forward-looking statements. Readers are referred to the reports and documents filed from time to time by LivePerson with the Securities and Exchange Commission for a discussion of these and other important risk factors that could cause actual results to differ from those discussed in forward-looking statements.
For further information, please contact: Media, Jennifer Regnault of LivePerson, Inc., +1-212-609-4213, firstname.lastname@example.org; or Stephen Laird of Genesis Select Corp., +1-203-342-0214, email@example.com
SOURCE: LivePerson, Inc.
CONTACT: Younjee Kim, +1-212-609-4222, firstname.lastname@example.org
Web site: http://www.genesisselect.com/
Web site: http://www.liveperson.com/