Graphic consumer application developer IncrediMail Ltd. (Nasdaq:MAIL) has extended its agreement with Google Inc. (Nasdaq: GOOG) for two more years.
IncrediMail has been using Google AdSense since 2006, allowing it to share in ad revenue generated from users clicking on Google sponsored links, in response to a search query conducted across IncrediMail properties. IncrediMail reported in May 2009 that about 70% of its revenue is generated from its search model.
IncrediMail CEO Josef Mandelbaum said, “The new agreement provides the basis for a more extended relationship and I am looking forward to working closely with Google to grow our existing business with them and to find other areas of cooperation that will further strengthen our partnership.
He added, "This agreement also marks the beginning of a new era of transparency for consumers. As we previously announced, part of our new strategy is to create products that are simple, safe and useful and it starts with building trust with our consumer. As such we fully embrace and support Google’s effort to enhance and protect the user’s experience.”
IncrediMail's share price rose 3.8% on Nasdaq today to $7.37, giving a market cap of $71.2 million.
Published by Globes, Israel business news - www.globes-online.com - on December 27, 2010
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