Cendant and AltaVista Form Strategic Alliance to Create Exclusive Real Estate Channel

Strategic Insights -

Cendant Corporation's move.com relocation, real estate, and home-related services portal has joined forces with AltaVista to create a co-branded real estate channel on AltaVista's Live! personalized portal service. The new channel will offer move.com's services, leveraging Cendant's relocation, real estate, and home-related products and services to assist customers before, during, and after a move.

Key Takeaways:

  • The three-year agreement will provide AltaVista with up to $40 million in payments, with move.com serving as the exclusive content provider to the new real estate channel.
  • The channel will be promoted through AltaVista's network of services, including AltaVista Search, AltaVista Shopping.com, and AltaVista Live!, which has over 47 million users worldwide.
  • Move.com will offer users of the AltaVista Live! Real Estate channel a multitude of services, including:

+ Services from move.com partners such as hardware.com, Allstate, furniture.com, CarsDirect.com, Ryder Truck Rental, ImproveNet, and Carefinder.com.

+ Senior housing and corporate housing listings, self-storage information, and various moving and living-related tools and information.

+ Apartment listings from the Rent Net(R) site and listings from the CENTURY 21(R), COLDWELL BANKER(R), and ERA(R) real estate franchise systems.

  • Move.com's nationwide online service was launched in conjunction with the announcement, providing a broad-based source for customers navigating a move.
  • Cendant Corporation has a global presence, with approximately 30,000 employees and operations in over 100 countries.
  • AltaVista is a majority-owned operating company of CMGI, Inc. (Nasdaq: CMGI), and is the premier media and commerce network offering Internet users up-to-the-minute news, live video, content, search, and shopping resources.

Statistics:

  • Up to $40 million in payments will be provided to AltaVista as part of the three-year agreement.
  • The AltaVista network had over 47 million users worldwide in December.
  • Cendant Corporation has approximately 30,000 employees globally.
  • CMGI, Inc. has 60 companies in its network, making it the largest and most diverse network of Internet companies in the world.

Sources:

  • Cendant Corporation news release, "Cendant and AltaVista Form Strategic Alliance to Create Exclusive Real Estate Channel" (January 27).
  • AltaVista Company news release, "AltaVista Company Forms Strategic Alliance with move.com/Cendant Corporation" (January 27).
  • CMGI, Inc. news release, "CMGI Reports Financial Results for Fourth Quarter and Full Year 2000" (January 26).
  • CMGI, Inc. SEC filings, including the Annual Report on Form 10-K for the most recently ended fiscal year.