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TeleBright.com Inks Deal with NBC Business Site
Sep 21, 2000 07:42 AM ET
By Elaine Wu, LocalBusiness.com
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ROCKVILLE, Md., Sept. 21 (LocalBusiness.com) -- TeleBright.com Inc. has signed an agreement with NBC Internet Inc.'s AllBusiness.com to sell telecom services on the business portal.
In exchange for becoming the exclusive telecom service reseller on AllBusiness.com, TeleBright.com paid an undisclosed amount of cash, Kristie Hughes, TeleBright.com vice president of marketing, told LocalBusiness.com. The Rockville-based company also will pay AllBusiness.com a percentage of the revenue it generates from sales on the Website.
Users on AllBusiness.com can purchase telecom services through a cobranded page on the Website.
"AllBusiness.com is the largest agreement and the most significant arrangement we have to date," Hughes said. "The partnership is really something that makes a lot of sense for both companies."
Executives at TeleBright.com expect sales from San Francisco-based AllBusiness.com to make up about 15 percent of the company's revenue. The company is projecting about $4 million in revenue this year and $20 million for 2001, at which point it should break even, Hughes said.
On the funding end, Hughes said TeleBright.com wants to close a $30 million round in the next 60 to 90 days. Redwood Venture Partners, Rockham Capital Partners and Pillsbury, Madison & Sutro LLP had invested $1 million in TeleBright.com in May.
TeleBright.com is a Website that enables small businesses to comparison shop online for telephone, Internet access and Web-hosting services.
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