GoTo.com (Nasdaq: GOTO) gained 5 1/4 to 15 9/16 Wednesday after the e-commerce service company announced an alliance with Netscape Communications, Inc. GoTo’s stock was also added to the Russell 2000 index, which gave it an added boost.
The Netscape agreement extends the company’s contract as a leading provider for the Net Search program for another year, and expands the agreement to provide Netscape users with access to GoTo Shopping. In addition, GoTo’s pay-for-performance search product, GoTo Search, will become a preferred search provider for Net Search.
“Relationships with key Internet properties such as Netscape are an important part of our strategy to partner with the leading sites on the Web,” said GoTo Chief Executive Officer Ted Meisel.
GoTo, headquartered in Pasadena, California, provides such e-commerce services as Web site searching, comparison shopping and auction searching to partners. It also offers directory and auction services for business portals.
The company says it reaches about 22 million unique users through its various affiliates.