Financial Media Group, Inc. Announces Launch of ForWant.com, a Free Classified Website
IRVINE, CA, Feb 20, 2009 (MARKET WIRE via COMTEX) -- Financial Media Group, Inc. (OTCBB: FNGP), an online web publisher focused on building 2.0 properties for integrated Ad Networks and eCommerce properties, announced today the launch of ForWant.com, an online free classified site that enables users to search for a variety of items specializing in the categories of Jobs, Housing, For Sale, Personals and Services. Advertisements for these categories can be uploaded for free. The Company believes its platform to be very strategic in nature, and with the continuing downturn in the economy and job markets, it presents a unique opportunity for web properties operating within this space.
The URL for the property is USA - ForWant.com
and the name implies the opposite of For Sale.
The property operates on a free model and is heavily augmented by advertising on both CPM and CPC and CPA based models.
The industry is currently dominated by four main players: Craigslist.org, Monster.com, Yahoo's HotJobs and CareerBuilder. The Company believes a free base model is a more strategic entry into this marketplace for the following reasons:
-- Craigslist.org claims to receive 12 billion page views and ranks the
property as one of the top 30 web properties in the world as per Alexa (An
Amazon company). Industry experts put the market cap conservatively at $1.0
to $1.5 billion. Their model has typically been free for the majority of
the universe and the company does not accept advertising regardless of
appeal of greater profitability.
-- Monster.com has approximately $1 billion in market cap. The site is
supported by job posting fees where a typical job advertisement cost is
-- CareerBuilder.com, another paid job classified, claims to have 400
million page views per month with advertisements typically charging $359.
-- HotJobs.com, a leading product of Yahoo with a typical job
advertisement costing $275.
About Financial Media Group, Inc. Financial Media Group, Inc. is an online web publisher focused on building 2.0 properties for integrated Ad Networks and eCommerce properties.