Yehey.com bids to become world-class Internet player

iVantage Corp. announced yesterday its plan to transform Yehey.com into a world-class player by providing additional online services to users.

Yehey.com, a search engine portal affiliated with iVantage, will deliver a variety of new services including community and channel sites, Web site and applications hosting, e-commerce services, and consulting.

The search engine portal is set to cash in on the rising demand for such services with an eye for rapid growth and profitability, newly-appointed president and chief executive officer Dave De Leon said.

"Already, sales revenues have risen 64 percent in the past month because of new customers, such as the Bank of the Philippine Islands, Global Bank, Siemens and Van Melle," said De Leon. "The addition of new services will clearly add to its growing revenue stream."

Along with De Leon is concurrent president and chief operating officer of iVantage, the portal company announced the appointment of Kevin Khoe as executive vice president and chief operating officer and Alfredo Hebrona Jr. as director of content.

Yehey’s new directions drew support from its major shareholder, Singapore-based Catcha.com. "Since the start of the second quarter this year, the world has put dot.com companies on a reality check, and thus, like all other models, Yehey! needs to work towards a path to profitability and evolve itself into a different model from what it started out," said Catcha CEO Patrick Grove.

"The first step of putting in place a group of seasoned professionals to help run the business is a welcome move and we are confident Yehey.com will evolve into a world-class Internet players."

Alistair Israel, Yehey.com founder and chief technology officer, said the new moves demonstrate once again Yehey’s commitment to bring to the Filipino Internet community the most relevant and informative Internet experience possible to Filipinos online the world over.

Yehey.com is the Philippines’ leading search engine portal and Web directory that provides Internet users with comprehensive information about the country including news, entertainment, e-mail and clubs. iVantage , which owns 20 percent of Yehey, is a publicly listed company engaged in insurance, banking and information technology.

Catcha.com is Southeast Asia’s leading network of localised portals, formed following the merger between leading search engines in Singapore, Malaysia and Indonesia. It provides Internet users the most comprehensive directory of Asian Internet content.