Student Advantage Teams With edu.com
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Student Advantage also made an equity investment in edu.com of approximately $4.5 million.
Raymond Sozzi, CEO of Student Advantage, was also elected to edu.com's board of directors. The relationship capitalizes on each company's strengths to create a powerful commerce, content and community resource for college students, the companies said.
Student Advantage maintains commerce relationships with more than one million college students who participate in the company's commerce offerings and through its membership program.
"We are excited about this alliance because it integrates Student Advantage's comprehensive online portal with edu.com's pure online commerce resource," said Sozzi.
"This enhances our ability to serve students with the most compelling e-commerce solution tailored to their desire for value, broad selection and a convenient, rewarding online shopping experience." edu.com will maintain its autonomy while becoming Student Advantage's
exclusive technology e-commerce partner and rewards program provider. Other terms include edu.com paying Student Advantage, Inc. $2 million over a two-year period to become Student Advantage's preeminent college student e-commerce destination. edu.com will gain access to Student Advantage's customer base. Student Advantage and edu.com will integrate their online offerings.