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German media giant Bertelsmann AG announced Tuesday that it has sold nearly $700 million (US$) of its stake in America Online (NYSE: AOL). The move is at the center of a concerted effort to build up its multimedia unit According to reports, the Guetersloh, Germany-based company sold 7.2 million shares last Thursday to an undisclosed buyer. That rep...

Online apparel retailer Styleclick.com (Nasdaq: IBUY) has signed a broadband content syndication agreement with Intertainer Inc., an interactive network that provides entertainment-on-demand to both cable and telecommunications companies. Styleclick.com's content will appear on Intertainer's service when it launches to consumer audiences in the fall...

Benchmark Capital announced today that it is pumping $15 million (US$) into Nordstrom.com. The venture is one of the Menlo Park, California firm's largest investments ever in a single company. "Benchmark is extremely excited to be working with Nordstrom.com, a company whose brand and customer service reputation have stood the test of time," said Benchmark general partner Bill Gurley...

In a move that will distribute "good toys" across its line of animated Internet properties, the Walt Disney Company's Buena Vista Internet Group (BVIG) announced Wednesday that it has acquired a controlling interest in toysmart.com Financial considerations were not disclosed, but some observers believe that BVIG has agreed to pay toysmart.com $20 m...

A new study done by Forrester Research Inc. shows that today's 16-to 22-year-olds have willingly embraced the Web in much the same way their parents once embraced cable television. However, unlike their parents, this demographic is a widely untapped resource for those e-marketeers astute enough to exploit it. Consider: 16 to 22 year-olds number mor...

With fraud emerging as the number one threat to their industry, a group of e-commerce development companies are mounting a counter-attack. The new Internet Fraud Prevention Advisory Council, led by HNC Software, Inc. (Nasdaq: HNCS), has won widespread support as it attempts to eradicate consumer fears of buying and selling online IFPAC hopes to red...

In a move designed to enhance its e-commerce clout, Exchange Applications, Inc., bought closely held software provider GBI today for $24 million (US$) in stock Through the acquisition, Exchange Applications has added personalized e-commerce software to its arsenal. This software allows an e-commerce site to use e-mail for customer service and marke...

With less than 129 days until the highly anticipated new millennium, Red Hat, Inc. (Nasdaq: RHAT) has announced that its Linux operating system (OS) package won't shut down or otherwise adversely affect users due to a Y2K computer glitch The Durham, North Carolina-based developer and provider of Linux open-source solutions for users disclosed that ...

Claiming to be the first company to offer a real-time Internet vehicle service center, Autoweb.com (Nasdaq: AWEB) has launched a pilot program that will allow users to schedule service appointments with their local repair shops The service allows users to choose from auto service centers, retail service centers or independent shops. The Santa Clara...

As it drives toward its upcoming initial public offering, Akamai Technologies has strengthened its hand by hiring banking veteran Timothy Weller to be its chief financial officer. The company offers content-delivery services that speed up performance for e-commerce sites, portal sites and news sites Weller had been an equity research analyst at inv...

One day after trumpeting the launch of a subscription-free Netscape Online service in the United Kingdom, America Online (NYSE: AOL) announced that it has extended an e-commerce and web-hosting agreement with Verio, Inc. (Nasdaq: VRIO) AOL Europe said that its exclusive marketing agreement with Verio will bolster the Englewood, Colorado-based compa...

The stunning success of Red Hat Inc. has generated much attention for the once obscure Linux operating system. However, some wonder if the color of money will spawn the kind of greed that could end up spoiling the entire party Since the Durham, North Carolina software vendor brought its shares to market, Red Hat has raised $5 billion (US$) -- an am...

In a move designed to help online shoppers sift through the abundance of products on the web, BuyWiz Inc. has launched a free "universal shopping cart" program. The software, which can be downloaded from the BuyWiz Web site, allows shoppers to collect items from a variety of different online stores and save that information in one place According t...

Although the International Corporation for Assigned Names and Numbers has backed off its plan to charge $1 ($US) for every domain name registered, Rep. Thomas Bliley (R-Virginia) continues to probe the group's finances and activities Bliley is Chairman of the House Commerce Committee and a representative from a state that houses several Internet bu...

According to a poll conducted by Jupiter Communications, almost two-thirds of online consumers are unlikely to trust an e-commerce Web site, despite privacy and security-related policy disclosures While there does not appear to be a clear consensus as to the reasons for such consumer skepticism, experts point to the media as a likely culprit. "The ...

Internet service provider PSINet Inc. announced today that it has made an agreement to buy Transaction Network Services Inc. for $45.28 a share in cash and stock, or $705 million (US$). Analysts say the move will give teeth to the Herndon, Virginia-based company's planned foray into e-commerce "As financial institutions continue to outsource their ...

As part of a year-long campaign to transform itself into a full-service destination site, E*Trade (Nasdaq: EGRP) announced Monday that it has become the leading investor in online mortgage bank LoanCity.com's second round of funding. New Enterprise Associates provided much of the funding for LoanCity.com's first round LoanCity.com offers a technolo...

Dell Computer Corp. announced today that it has updated and enhanced www.gigabuys.com, its online superstore. These new features, along with recently added Dell Auctions, Dellnet portal and Dellnet ISP, are part of an aggressive campaign to eliminate online shoppers ' needs to look elsewhere for products and services "Today's enhancements are part ...

American Online, Inc. is attempting to ensure European Internet supremacy by mounting a two-pronged attack against English and German competitors On Tuesday, AOL and German media giant Bertelsmann AG will launch Netscape Online, which will offer free Internet service in Britain. The move is designed to neutralize Freeserve, whose free service has g...

StarMedia Network (Nasdaq: STRM), a leading online network for Spanish and Portuguese-speaking audiences, will now offer its users direct access to online grocery shopping. The network surprised some observers by forgoing well-known players like Webvan and Peapod in favor of LatinGrocer, an online grocery service that caters to the same target audience...