Melbourne, Dec 10 (Asia Pulse) - Publisher John Fairfax Holdings Ltd's
on-line arm f2 has taken a strategic stake in on-line retailer theSpot, and will
promote the ToySpot.com.au service on Fairfax websites and publications.
The deal announced today also involves an alliance with Fairfax's Internet
auction site, SOLD.com.au, for on-line toy auctions. F2 chief executive Nigel
Dews said the deal expanded Fairfax's e-commerce assets, which include
shoptoday.com.au and capital city guides CitySearch.com.au.
"E-commerce is one way we are generating revenue from our leading
traffic position and it is a big part of our future," he said. ToySpot was
well positioned to be one of the winners in the highly competitive e-commerce
environment, and extra resources from Fairfax would make sure it stayed in
front. Fairfax would not reveal the size of the stake, or how much it had paid
TheSpot joint chief executives Alison Harrington and Justin Punch said the
resources and funding from Fairfax would accelerate the six-month old company's
growth and offer marketing and cross-promotional opportunities. "This makes
ToySpot.com.au the definitive on-line toy marketplace in Australia," Mr
Punch said. "It provides customers with more products, the choice or new or
pre-loved and more ways of finding and buying them."
In November 1999, research company IMR Worldwide clocked 98,000 visitors to
the ToySpot,com.au website, which is the company's first venture. Fairfax
publishes The Age, the Sydney Morning Herald, The Australian Financial Review,
the Sun-Herald and BRW, and yesterday announced an expansion into Asia with the
purchase of IT and finance magazine house Strategic Publishing.