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ELLISON’S BIG BUCKS BOOST BEENZ

News, 01 September 1999

THE COMPANY behind internet loyalty scheme beenz announced that it has raised $20m (£12.2m) for future development. UK-based Beenz.com, just seven months old, conjured the cash from a number of private investors including Larry Ellison, the billionaire founder of Oracle. Beenz also unveiled details of its new partnership with the internet portal and search engine, Excite.co.uk. The deal will offer beenz to Excite’s 3m monthly site visitors. Internet users can accrue beenz simply by visiting or buying from participating sites, redeeming them against purchases from such sites.