ValueClick (VCLK)

COMPARISON SHOPPING & SEARCH SEGMENT

        Our online Comparison Shopping services enable consumers to research and compare products from among thousands of online and/or offline merchants using our proprietary technologies. We gather product and merchant data and organize it into comprehensive catalogs on our destination websites, along with relevant consumer and professional reviews. Our services are free for consumers,

4

Table of Contents

and our customers primarily pay us on a CPC basis for traffic delivered to the customers' websites from listings on our websites.

        Our Comparison Shopping & Search segment services are offered through our wholly-owned subsidiaries Pricerunner, acquired in August 2004, Shopping.net, acquired in December 2006, and MeziMedia, acquired in July 2007. Pricerunner operates comparison shopping destination websites in the United Kingdom, Sweden, the United States, Germany, France, Denmark, and Austria. Shopping.net operates in the United Kingdom. MeziMedia operates its comparison shopping destination websites primarily in the United States under the Smarter.com, Shopica.com and Couponmountain.com brand names.

        In addition to our Pricerunner and MeziMedia comparison shopping destination websites, Search123, which operates primarily in Europe, is ValueClick's self-service paid search offering that generates its traffic primarily through syndication relationships with other search engines, Web portals and content websites. Search syndication revenues are driven primarily on a CPC basis.

COMPARISON SHOPPING & SEARCH SEGMENT

        Our online Comparison Shopping services enable consumers to research and compare products from among thousands of online and/or offline
merchants using our proprietary technologies. We gather product and merchant data and organize it into comprehensive catalogs on our destination websites, along with relevant consumer and professional
reviews. Our services are free for consumers,

4

HREF="#bg17501a_main_toc">Table of Contents

and
our customers primarily pay us on a CPC basis for traffic delivered to the customers' websites from listings on our websites.

        Our
Comparison Shopping & Search segment services are offered through our wholly-owned subsidiaries Pricerunner, acquired in August 2004, Shopping.net, acquired in
December 2006, and MeziMedia, acquired in July 2007. Pricerunner operates comparison shopping destination websites in the United Kingdom, Sweden, the United States,
Germany, France, Denmark, and Austria. Shopping.net operates in the United Kingdom. MeziMedia operates its comparison shopping destination websites primarily in the United States under
the Smarter.com, Shopica.com and Couponmountain.com brand names.

        In
addition to our Pricerunner and MeziMedia comparison shopping destination websites, Search123, which operates primarily in Europe, is ValueClick's self-service paid search
offering that generates its traffic primarily through syndication relationships with other search engines, Web portals and content websites. Search syndication revenues are driven primarily on a
CPC basis.