AOL, Cendant's Netmarket Expand Online Advertising
Agreement
Bloomberg News
September 21, 1999, 9:17 p.m. PT
AOL, Cendant's Netmarket Expand Online Advertising Agreement
Dulles, Virginia, Sept. 22 (Bloomberg) -- America Online
Inc. said it expanded an Internet-advertising agreement with
Cendant Corp.'s Netmarket Group Inc. to market online purchasing
clubs to AOL's more than 20 million subscribers.
Terms of the agreement weren't disclosed. AOL, the world's
largest online service, said it's taking a small equity position
in Netmarket. Cendant last week said it would combine its
purchasing clubs into a new company, Netmarket Group, to speed
development of its Internet businesses.
America Online said Netmarket will sell its services to AOL,
CompuServe and Netscape users through the third quarter of 2001,
a year beyond when the agreement was set to expire, the companies
said. Companies ranging from Medscape Inc., an Internet health-
information site, to online toy retailer eToys Inc., have agreed
to pay AOL millions to be able to sell their goods and services
through AOL because it has the largest online base.
Netmarket's clubs, which include Travelers Advantage and
AutoVantage, have 1.3 million members and expected sales of
$70 million this year.
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