One of the Web’s fastest-growing networks and a shopping site with over 29,000 merchants announced Thursday that they would form an online partnership, a move that gives both access to an ample supply of resources.
About.com (Nasdaq: BOUT) — formerly known as the Mining Co. — and ShopNow.com said the agreement calls for the shopping site to build and maintain a co-branded shopping destination on the network’s site About.shopping.com.
The full financial details were not disclosed, but the companies said that About.com would receive a multi-year multi-million payment.
“About.com shares our vision of creating a world-class Internet commerce architecture,” said ShopNow CEO, Dwayne Walker. “The 29,000 merchants on ShopNow and the extensive network of destinations on About.com will enable us to create a premier shopping destination.”
A Season of Agreements
Both companies have been very active in recent months, not letting a summer heat wave on the East Coast dampen their ambition.
Much like The Artist Formerly Known as Prince caused confusion with his name change, About.com is still tagged with the “formerly Mining Co.” label. Name changes are not rare, especially in the Internet industry, but Mining Co. was a distinctive name with a distinctive mission.
About.com is adapting to the new name however, and the mission remains the same. The company has built up an ever-widening band of loyal followers who like the subject-specific guides manning the posts. p> The company signed a co-branding deal with Borders.com in May, just two months after its successful $81 million (US$) IPO.
ShopNow has had its own recent success. Earlier this month the company announced that it agreed to launch a co-branded shopping site with the $360 billion Chase Manhattan Bank. Chase will provide financial services and co-branded credit cards and ShopNow will have a co-branded site with its 29,000 merchants.
Founded in 1994 by the former director of Microsoft Windows NT, the company has offices in Seattle, Washington and Sausalito, California. the same. The company has built up an ever-widening band of loyal followers who like the subject-specific guides manning the posts.
In fact, About.com now has 7.2 million unique users and was ranked as the second largest news, information and entertainment site by Media Metrix in June.