Dexia, Europ@web Eye Ze Project
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Dexia and Europ@web Friday announced plans to create a finance portal in a project valued at more than 100 million euros (US$101 million).
Ze Project is meant to be the first step in the development of a retail financial portal, an idea which originated at Europ@web. With Dexia's new investment, it will receive a 20 percent stake in Ze Project, while Europ@web will retain 80 percent of the capital.
Europ@web started building the project six months ago, and the site went live on Jan. 1. The company said that 25,000 hits have been registered on the site in the past three weeks. The site encourages visitors to give feedback on financial requirements to help develop Ze Project's future financial services, through questionnaires, a suggestion box, and discussion forums.
Ze Project is currently pursuing approval from the French banking authority to permit various finance offerings on the site.
Europ@web is the Internet investment arm of Groupe Arnault, with a fund reservoir of 500 million euros ($505 million) for its ventures in Europe and the U.S. The company has poured funds into Webvan, Oxygen Media, LibertySurf, Aucland, and Leisureplanet.