Zecco.com to offer free online trading
By Frank Barnako,
Last Update: 9/21/2006 3:07:00 PM
zecco.com
A former Merrill Lynch vice president says that he will offer zero-commission online stock trading in two and a half weeks. His Web site, Zecco.com, currently offers news, charts, blogs and discussion forums. Trading is due to begin Oct. 9.
Jeroen Veth said that Zecco.com will sustain itself through advertising. "We run a lean operation, use the latest technology and rely entirely on word of mouth, guerilla marketing, viral campaigns and public relations to get the message out," he said in a statement.
"Think of Zecco.com as the intersection where online brokerage meets Yahoo Finance (YHOO) and MySpace (NWS)," he continued. "We believe investors want to share ideas and opinions, and we want to make it possible for anyone -- customer or not -- to do that on our Web site."
Other backers of the venture include Morten Lund, an early investor in Skype (EBAY) and Pier Baarsma, former chief executive of Dutch Coca Cola (KO).
"We are unusually well financed for a startup, and I believe the 'big boys' will pretty soon realize they are in for a serious fight," Veth added. Thanks for the tip, Om Malik. |
