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Czech company Geewa on its way to becoming a YouTube for online casual games

Czech technology company Geewa has received the Red Herring 100 Europe award, whose previous winners include the likes of Google, Skype and YouTube. The award is due, in part, as recognition of the unique video pre-roll ad space offered by Geewa online games. The advertising space is sold by Nova, the largest Czech commercial TV station.

Malta, 16th April, 2008 — Geewa, the Czech casual online games portal, has been recognized as a Red Herring 100 Europe award winner in Malta for 2008. The award was issued by the influential American new technology business magazine, Red Herring. The editorial team analyzes hundreds of progressive technology based companies of which a hundred are presented with the award. When selecting winners, Red Herring consider not only the technology involved, but also the economic results and management quality of the company. Previous recipients of the award include Google, YouTube and the Czech antivirus developer Grisoft.

It is great to receive an award whose past winners include Google and YouTube. This will help our expansion into major international markets, said the Geewa CEO, Milos Endrle.

TV Nova CEO Petr Dvořák adds: We like to cooperate with promising projects such as Geewa. We congratulate Geewa and are happy about the award. It clearly demonstrates how even a locally developed idea and product can bring a valuable service for users and advertisers alike.

Online casual games are becoming increasingly popular among users of all ages and both genders

Geewa develops and publishes multiplayer games on its portal Geewa.com and also supplies content to major regional portals like Seznam.cz, Atlas.cz, Zoznam.sk, TV MarkĂ­za in Slovakia, the biggest Hungarian portal Origo.hu and the ICQ instant messaging client. In addition, Geewa works with mobile operators T-Mobile and O2. In fact, thanks to its partnership with Geewa, T-Mobile Czech was the first operator to offer simultaneous cross platform multiplayer gaming via a cell phone and internet browser.

The portal contains casual games like Word Soccer, a multiplayer version of Solitaire, Sudoku and many others. The games are available for free and work in an ordinary web browser with no need for download. Geewa.com recently launched video advertising and indeed the majority of revenue from the portal comes from advertising. Video advertising on the internet is set for fast growth with an eMarketer study forecasting total revenue from this medium to reach $4.3 billion in the United States alone (http://www.emarketer.com/Article.aspx?id=1005193). In the Czech Republic, Geewa pre-game video advertising is currently sold by TV Nova to their advertising clients.

Geewa excels in providing community features on their multiplayer game portal. Social networking features like real-time global and private chat, a buddy list, player profiles and a top players table help make Geewa a true social gaming experience. Women make up more than 50% of the total player base, however, the portal appeals to wide range of users, across many age groups. Importantly for advertisers, the economically active 30+ age group is heavily represented on Geewa.

In good company

This years impressive list of winners demonstrates Europes emergence as a major player in the global technology sector, said Red Herring Editor-in-Chief, Joel Dreyfuss. The exceptional accomplishments of European technology companies and entrepreneurs are a testament to the rapid advancements being made in building the European innovation ecosystem.

Red Herrings lists of top private companies are an important part of the companys tradition of identifying new and innovative technology companies and entrepreneurs. Companies like Google, eBay and Skype were spotted in their early days by Red Herring editors, and touted as leaders that would change the way we live and work.

Red Herrings editorial staff rigorously evaluated more than hundreds of private companies through a careful analysis of financial data and subjective criteria, including quality of management, execution of strategy, and dedication to research and development.

To honor the CEOs of Red Herring 100 Europe companies, Red Herring has invited each CEO to present his or her company at its Red Herring Europe 2008 event. Scheduled for April 14-16, at the Westin Dragonara Resort, this intimate, three-day event is themed Ahead of the Curve and will explore how European firms are leading the charge in many technology sectors, gaining the competitive advantage, and driving entrepreneurial success in ways that create business opportunities for challengers and incumbents alike.

About Red Herring

Red Herring is a global media company which unites the worlds best high technology innovators, venture investors and business decision makers in a variety of forums: a leading innovation magazine, an online daily technology news service, technology newsletters and major events for technology leaders around the globe. Red Herring provides an insiders access to the global innovation economy, featuring unparalleled insights on the emerging technologies driving the economy. More information about Red Herring is available on the Internet at www.redherring.com.

About Geewa

Geewa operates the multiplayer casual game portal Geewa.com which allows players all over the world to challenge each other to an online game via their PC, cell phone or even interactive TV. The players can compare their results to others in leagues and tournaments. Players can also communicate with each other while playing games via a chat feature.
A million unique users visited the Geewa game platform in March 2008 and participated in 20 million matches. Word Soccer, Mau-Mau and Solitaire are among the most popular games on the portal.

The Geewa game community is made up of men and women, young and old (however 30% are 30 years and older). The platform has grown steadily since it was launched in 2005. Today, a 100.000 unique users play Geewa games every day generating over 700.000 matches. Word Soccer, an original concept from Geewa, is now the most popular game on the Czech Internet.

Geewa.com recently launched video advertising and the majority of revenue from the portal comes from advertising. A recent eMarketer study forecasted total revenue from this medium to reach $4.3 billion in the United States alone (http://www.emarketer.com/Article.aspx?id=1005193).

Geewa received a first round of funding in June 2007 from MCI Management, a major private equity group which operates the MCI.TechVentures, MCI.BioVentures and MCI.EuroVentures funds focused on the Central and Eastern European markets.

Geewa and the Geewa logo are registered trademarks. More information about Geewa is available at www.geewa.com.

Media contact:

Petr Nachtmann
tel. +420-725-71-68-53
e-mail: press@geewa.com