Netcentives Deals With AOL, PlanetU
Updated · Jun 14, 2001
Netcentives (Nasdaq: NCNT) went on a signing frenzy Wednesday. The personalized email, rewards and recognition services firm says it has signed a new deal with online promotions network planet U and amended its three-year deal with AOL
The amendment with AOL’s contract transforms the relationship between the two companies from a transactional fee structure to a non-exclusive technology licensing arrangement and runs concurrent with the initial three-year term.
“This is consistent with our strategy to focus our outsourcing services primarily on the retail and financial services segments and to license our technology to companies that have ample internal operating capabilities,” says Netcentives chairman and CEO Eric Larsen.
New To Planet U
A new addition to Netcentive’s signing party is planet U, a wholly owned subsidiary of Transora, the world’s largest open, standards-based B2B eMarketplace, which serves the consumer products industry.
Under the agreement, Netcentives will work with planet U to help retailers and marketers reach consumers through targeted email marketing.
San Francisco-based planet U works closely with retailers and consumer packaged goods manufacturers to deliver household-targeted promotions, including coupons and samples, directly to consumers using the Internet.
The company’s flagship product is U-pons Internet Coupons, delivered electronically from the Internet to retailer point-of-sale systems, where consumers can redeem the offers with their frequent shopper card or via personalized and securely printed direct mail coupons that can be redeemed anywhere coupons are accepted.
“A primary objective for planet U is to help manufacturers and retailers build brand and store loyalty in tandem,” says planet U COO Bob Egan. “We’re confident that Netcentives will help us achieve this goal.”
Specific terms of the planet U agreement were not disclosed. Netcentives says both deals will keep financial statements consistent with previous guidance. The company is expecting second quarter revenue in the range of $11 – $13 million.
Reprinted from siliconvalley.internet.com.
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