Xoom.com Buys MightyMail
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Web community XOOM.com Inc. Wednesday purchased MightyMail Networks Inc. in a deal it says will give online marketers a new way to sell their products online.
XOOM will pay $25 million in stock for MightyMail, which offers custom-branded e-mail services for online communities. The service also allows companies to offer e-mail solutions and include their logos and other marketing materials in messages.
Chris Kitze, XOOM.com's chairman and chief executive officer, said MightyMail takes the marketing power of e-mail to a whole new level.
"Not only does MightyMail allow us to continue to organically grow through one-to-one marketing, but it allows us to extend this cost-effective strategy to our partners. Additionally, it provides us with exciting content and merchandising opportunities to further our relationships with leading online brands," he said.