Search engine Infoseek is tapping corporate research leader Hoover's Inc. as a new source of advertising revenue.
The agreement announced Monday allows Infoseek, which also runs a Web directory, to make an equity investment of an undisclosed amount in Hoover's, which offers an online gold mine of data on more than 10,000 public and private firms.
Infoseek will also become the exclusive delivery agent of advertising sales on Hoover's Online and other Hoover's sites, including the currently available IPO Central and Cyberstocks. As many as five new business sites will be coming online soon, as a result of the increased capital Hoover's will enjoy through this deal, said Hoover's vice president of marketing Jani Spede.
The deal with Infoseek could increase traffic on Hoover's site since links to its company profiles will be programmed to appear first when a user searches for company data on Infoseek.
For the past year the advertising manager at Hoover's, Joe McWilliams, has run a one-man show and sold nearly 100 percent of his available inventory. Beginning in April, Hoover's will turn over its inventory to Infoseek's 25-person ad sales team.
