NBC and its Internet arm, NBCi, this week struck a deal swapping
advertising on its TV network and promotion on Snap.com for equity in Flooz.com, an online gift currency site.
Financial terms of the deal were not disclosed.
The deal makes Flooz.com the
latest in NBC Interactive Media’s portfolio of 35 companies, many of which
traded minority stakes for on-air promotion. The company’s other holdings
include CNET, Talk City, iVillage, Telescan, 24/7 Media, TiVo, Wink
Communications, Gemstar, and Intertainer.
Flooz.com allows users to send its gift currency to friends, family, and
business associates via e-mail, and they can then redeem it at Flooz.com
partner e-tailers. Because this is an idea with a wide range of
applications, NBC is looking at rolling out the Flooz.com across some of
its other investments.
“We believe that the Internet currency sector is at the beginning of a huge
growth cycle and Flooz.com is the leader in this area,” says Marty
Yudkovitz, president of NBC’s Interactive Media Division. “The nature of
the Flooz product makes this the ideal investment vehicle for NBC to create
value between all of its interactive assets.”
The agreement calls for Flooz.com to receive on-air promotion across both
the NBC Television Network and NBC’s owned and operated stations. Flooz.com
TV spots, which feature spokesperson Whoopi Goldberg, began airing on NBC
during the holiday season.
The online gift currency company has also inked a deal for preferred
tenancy in the Snap Gift Certificate center of NBCi’s Snap, which will
include an online promotional plan on Snap. Flooz.com will be marketed
throughout the portal, including in Snap’s e-Card center.
