NBC Internet (Nasdaq: NBCI), the owner of such properties as portal site Snap.com, direct e-commerce site Xoom.com and NBC.com, is apparently pleasing investors by making a big push into the Asian market. Shares of NBC Internet climbed 1-3/4 to 77-1/2 on Thursday after the company announced that it is teaming up with Asiacontent.com in a joint venture to offer content, portal and shopping services to Korea, Hong Kong, Singapore, Malaysia and Taiwan.
The new company will create localized Internet communities, content, portal and shopping services in each of the regions it serves. Under the terms of the deal, NBC Internet will own 35 percent of the venture, with an option to increase its stake to 60 percent.
There was not much excitement surrounding the official launch of NBC Internet on November 30th, but it is clearly a company to watch. NBC Internet currently has the sixth-most visited property on the Internet according to Media Metrix, and promotion on NBC television should only help as the company continues to expand.