RealTime IT News

Yahoo! Invests in Impulse! Buy Network

Impulse! Buy Network, Inc. today announced it closed an initial round of financing worth more than $3 million from investors Yahoo! Inc. and SOFTBANK Technology Ventures.

This brings the total amount of money raised to date by Impulse! Buy Network to slightly more than $5 million.

Impulse! Buy Network is designed to allow participating merchants to promote a real-time feed of limited-quantity, time-sensitive offers on products to consumers across the Internet. The network currently has over 50 participating brand name retailers.

Offers appear on "Impulse Deals" which are promoted to consumers across Impulse!'s network of Web sites, ad networks and e-mail services. Each Impulse Deal holds a continuous stream of scrolling product offers that list the product, quantity, price, and also features a real-time countdown that reminds consumers to 'act now' before quantities disappear.

Consumers can click on an offer to view more information about the product, and instantly purchase it by submitting their shipping and billing information, the company said.

"For our merchant partners, Impulse offers a terrific new way to sell products online; for our users, it offers a service that we believe will keep people coming back often to see what new offers are available," said Jeff Mallett, chief operating officer of Yahoo!

The offers can be found in Yahoo!'s Visa Shopping Guide in the Apparel, Computer Hardware, Computer Software, and Gifts categories.

They are also scheduled to appear soon on other sites including Coolshopping.com, Planet Direct and iVillage.