E*Trade Expands Reach on Yahoo!, ZDNet
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In a move aimed at further extending its Internet presence, online investing service E*TRADE Group, Inc. today announced it expanded a marketing and commerce agreement with Yahoo! Inc., and also inked an exclusive marketing and content agreement with ZDNet.
Financial details were not disclosed.
Terms of the Yahoo! agreement include extensive advertising, sponsorship and promotional programs throughout Yahoo! Finance and related areas of the Yahoo! network of properties, as well as a number of targeted marketing and promotional programs.
As part of the agreement, E*TRADE is also sponsoring Yahoo!'s Financial News and Insider Trading channels, as well as renewing its position as one of the premier merchants in Yahoo! Finance, the firm said in a statement.
"These relationships demonstrate E*TRADE's major commitment to convert a significant portion of the nine million plus individual investors who use the Web to do investment research, but have not yet opened Internet investing accounts," said Christos M. Cotsakos, E*TRADE's president and CEO. "We will fully leverage the unique and targeted marketing agreements we have developed with Yahoo! and ZDNet to reach their millions of users of financial information."
Cotsakos noted that today's announcement is part of an overall strategy to dramatically increase E*TRADE's account growth while also showcasing the capabilities of its new public destination site.
The move comes on the heels of yesterday's news that the investment firm expects to suffer losses in the next fiscal year due to increased marketing costs.