RealTime IT News

AmericanGreetings.com Acquires eAgents

Staking a claim in the content delivery business, AmericanGreetings.com acquired eAgents, provider of an online news product that delivers consolidated information and entertainment from a variety of Web media brands in a single, daily e-mail.

AmericanGreetings.com is a subsidiary of American Greetings Corp.

Financial terms were not disclosed, but as part of the agreement, Charles Fink, founder, president and chief executive officer of eAgents.com, will become president of AmericanGreetings.com, reporting to chief executive officer Josef Mandelbaum.

"Our plan is to take eAgents, a new company with a great idea and a world-class management team, and turn it into the market leader, demonstrating the power of the platform we've built," said Mandelbaum.

Fink said he sees great potential in the new partnership. "eAgents is the personalized daily newspaper the Internet always promised but never delivered," he said. "By joining forces with AmericanGreetings.com, we expect to drive the adoption of this must-have product at a rapid pace."

Clearly the acquisition enhances the revenue model for AmericanGreetings.com, creating a beefed up audience for advertisers.

AmericanGreetings.com said its traffic would help to lower eAgents' cost of subscriber acquisition and allows the combined company to leverage AmericanGreetings.com's hardware and bandwidth at its point of lowest utilization (midnight to 9 a.m.), driving down the cost of e-mail compilation and delivery.

Prior to founding eAgents, Fink was senior vice president and chief creative officer at AOL Studios Greenhouse Networks, where he created and launched content brands including Love@AOL and Electra (later sold to Oxygen Media).

eAgents' free personalized daily online newspaper contains content from more than 50 sources including MSNBC, The New York Times, CBS Marketwatch, CBS Sportsline, ZDNet, TVGuide, RollingStone.com, Hollywood.com, Women.com, Food.com, LotteryUSA, Accuweather, Astronet, Fox News, Fox Sports, CelebStreet, the Knot, the Motley Fool and The Industry Standard.

AmericanGreetings.com claimed 13.6 million unique visitors in July. The site currently offers more than 15,000 greetings, licensed characters, invitations, games and Hi- Brow Comix.