eToys Signs $18 Million Marketing Agreement with America Online
Link - biz.yahoo.com
The previous agreement -
We entered into a marketing agreement with AOL, the leading Internet online service provider, in October 1997. This agreement established us as a provider of children's toy products featured on the AOL Network and AOL's Web site, aol.com. In addition, AOL agreed to prominently promote and advertise eToys on a non-exclusive basis in online areas controlled by AOL specified in the agreement. Furthermore, under the agreement, AOL has committed that AOL users will annually access the online areas promoting eToys a specified number of times. Over the 26-month term of the agreement, we are obligated to make minimum payments totaling $3.1 million to AOL, of which $1.1 million remained to be paid as of March 31, 1999. We have also agreed to offer for sale a substantial selection of children's products, to feature different children's products each week, to offer special deals to AOL users through the AOL online area, to provide children's toy products that are competitive in price and performance and to manage, operate and support such content and children's toy products. The agreement with AOL expires on December 31, 1999;
Regards,
Rajiv |
