PetSmart acquired Pet360 for $130 million in cash and up to $30 million more in future performance-based payments.
Cash Technologies Inc. and RocketCash Corp. have agreed to pilot Cash Tech's EMMA (E-commerce Message Management Architecture) transaction processing platform to accept deposits to customer RocketCash accounts from EMMA-driven automated teller machines. Through this partnership, RocketCash customers can fund their accounts by depositing cash or checks into participating ATMs. RocketCash, Mountain View, Calif., is an online gateway that allows teens to shop and buy on the Internet without a credit card. Users log onto RocketCash and can get access to more than 100 merchants. RocketCash accounts can be funded using online incentive dollars, gift certificates, money orders, personal checks, credit cards and U.S. dollars. EMMA's ability to support cash, ATM card and check payments at an ATM for deposit to a RocketCash account "gives the millions of teens that have cash or a bank account an easy way to fund RocketCash accounts and shop online," the companies say. The pilot is scheduled to begin in the fall of 2000 on Los Angeles-based Cash Tech's ATM-X machines at various retail sites. RocketCash merchants including Amazon.com, Alloy, ARTISTdirect, Barnesandnoble.com, CDNOW, Delia's, Fogdog Sports, JCrew, MXGonline, Pacific Sunwear and Reel.com.