AOL, PurchasePro.com in 3-year e-commerce deal
Reuters Company News - March 20, 2000 08:09
DULLES, Va., March 20 (Reuters) - Internet services provider America Online Inc. and business-to-business e-commerce provider PurchasePro.com said on Monday that they were in a 3-year e-commerce deal for businesses.
AOL and PurchasePro.com will create a business-to-business marketplace by combining their existing technologies with new ones they will jointly develop. The e-commerce marketplace will let businesses buy and sell their products, as well as negotiate on the price.
The co-branded AOL/PurchasePro.com business marketplace is expected to roll out by the end of the second quarter and will be developed for the over 21 million AOL users, the over 2.5 million CompuServe users as well as on AOL.com and Netscape Netcenter.
"Our strategic alliance with PurchasePro.com will enable us to work together to deliver the most advanced, scalable, end-to-end e-commerce solution to businesses of all sizes," Bob Pitman, president and chief operating officer of AOL, said in a statement.
Under the agreement, the two companies will share advertising and transaction revenue and AOL will have the opportunity to earn performance-based warrants. Copyright 2000 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. |
