PetSmart acquired Pet360 for $130 million in cash and up to $30 million more in future performance-based payments.
Electronic commerce and payment services firm First Data Corp., Atlanta, has taken an equity position in Yclip.com Inc., an Austin, Texas-based Internet advertising technology and information systems company. First Data and Yclip.com also have entered into a strategic development and marketing agreement to provide Internet-based marketing solutions for both online and bricks-and-mortar merchants.
Using First Data's merchant processing platforms and Yclip.com's advertising technology and expertise, the two companies will jointly create and deliver online promotional tools to consumer communities as well as incentive-related information and tools to Internet content providers. These Web-based technology solutions will enable merchants to extend offers to online consumers in the form of credit card incentives, without the need for consumers to print a coupon. Built into these solutions will be measurement tools to help merchants and other advertisers evaluate the effectiveness of online advertising and promotions. The first deliverables resulting from this agreement will be available to merchants and consumers during second-quarter 2000, the companies say.
The First Data investment represents an interest of about 16% in Yclip.com. In conjunction with the First Data investment, Yclip.com has closed on a $22 million round of new financing led by Oak Investment Partners and Gregory & Hoenemeyer Inc., bringing the total investment to $29 million, it says.