08/02 08:41 E*TRADE Enters Marketing Agreement With BUY.COM <EGRP.O>
E*TRADE Enters Marketing Agreement With BUY.COM
BUY.COM Customers Receive $100 Gift Certificate For Opening New E*TRADE Account
MENLO PARK, Calif., Aug. 2 /PRNewswire/ -- E*TRADE(R) Group Inc. (Nasdaq: EGRP) today announced a new marketing agreement with Aliso Viejo, Calif.-based BUY.COM set to launch later this week. The agreement rewards BUY.COM customers with a $100 gift certificate redeemable toward BUY.COM products for opening a new E*TRADE account. BUY.COM customers can open an E*TRADE account with a minimum investment of $1,000. Financial terms of the agreement were not disclosed.
Under the agreement, E*TRADE is able to further its efforts to attract customers from mainstream America by appealing to BUY.COM's extensive customer base. BUY.COM will promote E*TRADE to its customers through various branding efforts on the BUY.COM web site (www.buy.com) and through regular e-mail news announcements.
"We've had great success in attracting new customers through specialized marketing programs targeting specific customer and affinity groups," said Jerry Gramaglia, chief marketing officer of E*TRADE. "We believe BUY.COM customers -- many of whom use the BUY.COM service for the overwhelming number of products available at discounted prices -- will recognize similar advantages in the E*TRADE online investing service and will utilize it to take greater control of their personal finances."
BUY.COM, a leading Internet retailer and e-commerce portal site, offers the latest computer hardware and software, the newest releases of videos and DVDs, the hottest console and PC games, chart-topping CDs from only $9.95 and the top selling books at some of the lowest prices available. The BUY.COM web site enables consumers to shop any of the BUY.COM stores through a single location with customer service representatives available around the clock.
"E*TRADE brings strong brand awareness to our marketing efforts and we're pleased to make this special offer to BUY.COM customers," said Greg Hawkins, chief executive officer of BUY.COM. "BUY.COM already offers the lowest prices on the Internet on a variety of products and now our customers can receive a value-added incentive when they take advantage of the self-directed investing opportunities available at E*TRADE."
E*TRADE continues to enhance its value proposition for online investors with the debut of its next generation web site -- Destination E*TRADE 2.0 -- which offers faster navigation and response through one of the most comprehensive toolkits of financial products and services available at a single location on the Internet. E*TRADE's rewarding customer experience has resulted in significant account growth and high rankings from leading independent industry analysts, including the number one rankings in the latest surveys by both Gomez Advisors and Lafferty Information and Research Group.
Added Gramaglia, "According to Media Metrix(TM), which measures the Internet reach of major web sites, E*TRADE's Internet reach for June 1999 again exceeded the combined reach of the Charles Schwab and Ameritrade web sites. We believe the traffic generated by the E*TRADE site provides a compelling reason for BUY.COM customers to investigate the advantages of being an E*TRADE customer."
About E*TRADE
E*TRADE, a global leader in online personal financial services, has emerged as the world's most-visited online investing site. The content-rich Destination E*TRADE web site offers value-added investing and research features, premium customer service and a fully redundant, proprietary Stateless Architecture(SM) infrastructure. E*TRADE intends to expand its global positioning by launching branded web sites in the top 20 financial markets worldwide.
In recognition of its innovation and industry leadership, E*TRADE was ranked the number one online brokerage by Gomez Advisors (Summer 1999) and Lafferty Information and Research Group (4Q98, 1Q99). E*TRADE was also the first securities and financial services company to be awarded both the WebTrust seal of assurance by the American Institute of Certified Public Accountants (AICPA) and the "Trustmark" seal of approval from TRUSTe.
E*TRADE is committed to providing the most comprehensive financial services experience on the Internet, as demonstrated by its acquisition of Clearstation.com, a community-based financial analysis site, as well as strategic investments in E*OFFERING, a full-service online investment bank, and Archipelago, a leading Electronic Communications Network (ECN). E*TRADE also is positioned to become the first pure-play e-commerce company in the financial services sector -- combining online banking and brokerage services -- through a definitive merger agreement with Telebanc, the nation's leading branchless bank. It is anticipated that the Telebanc merger will close this fall. In addition, E*TRADE is poised to become the first online global trading network with its recently announced acquisition of TIR Holdings.
E*TRADE Securities Inc. (Member NASD/SIPC), and its parent company, E*TRADE Group Inc., are headquartered in Menlo Park, Calif.
About BUY.COM Founded in October 1996, BUY.COM, a leading Internet retailer and e-commerce portal site, offers consumers a range of computing and entertainment products, as well as an effective advertising medium for vendors. Its www.buy.com superstore serves as a portal to seven specialty stores that offer popular consumer goods, including: BUYCOMP.COM, BUYSOFT.COM, BUYBOOKS.COM, BUYVIDEOS.COM, BUYMUSIC.COM, BUYGAMES.COM and BUYSURPLUS.COM. The company's objective is to become the leading e-commerce portal featuring the largest selection of product at guaranteed low prices; provide customers additional value through convenience, quality customer service and a commitment to excellence. More information on BUY.COM is available at the corporate web site, www.buy.com.
Important Notice
E*TRADE is a registered trademark of the company. All other trademarks are properties of their respective owners. The statements contained in this news release that are forward-looking are based on current expectations that are subject to a number of uncertainties and risks, and actual results may differ materially. The uncertainties and risks include, but are not limited to, changes in market activity, market acceptance of the new Destination E*TRADE web site, anticipated increases in the rate of new customer acquisition, the conversion of new visitors to the site to customers, seasonality, the development of new products and services, the enhancement of existing products and services, competitive pressures (including price competition), system failures, economic and political conditions, changes in consumer behavior and the introduction of competing products having technological and/or other advantages. Further information about these risks and uncertainties can be found in the information included in the annual report filed by the company with the SEC on Form 10-K (including information under the caption "Risk Factors") and quarterly reports on Form 10-Q. The company has not independently verified market size information contained in this release and provided by Gomez Advisors.
E*TRADE MEDIA CONTACTS:
Tim Alban
650-331-5865
talban@etrade.com
Greg Xenakis
Neale-May & Partners
650-328-5555, ext. 142 gxenakis@nealemay.com SOURCE E*TRADE Group Inc.
-0- 08/02/99
/CONTACT: Tim Alban of E*TRADE, 650-331-5865, or talban@etrade.com; or Greg Xenakis of Neale-May & Partners, 650-328-5555, ext. 142, or gxenakis@nealemay.com, for E*TRADE/ |
