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VENTURA COUNTY BUSINESS | VENTURA COUNTY DIGEST

NetZero Inc. Acquires Online Shopping Firm

October 03, 2000|BARBARA MURPHY

NetZero Inc. of Westlake Village, which provides free Internet service to its customers, has purchased privately held RocketCash Corp., an online gateway designed to allow consumers to shop on the Internet without a credit card.

To complete the acquisition, NetZero issued about 5.6 million shares of its common stock.

NetZero officials said they will use RocketCash's currency exchange and payment processing technology to create a merchant network for NetZero's 5 million registered users. The technology enables consumers to deposit various forms of currencies--including online incentive dollars, offline promotional points, gift certificates, money orders, personal checks and U.S. dollars--into one spending account.

RocketCash most recently formed a partnership with the Sprite brand of Coca-Cola Co. to develop Sprite.com, a four-year marketing program that targets teens and allows them to buy merchandise online.

NetZero offers consumers free access to the Internet in exchange for a willingness to view advertisements online and disclose their Web site viewing habits.

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