Everypath, Inc., a privately-held wireless application services provider, today announced that E*TRADE Group, Inc. (Nasdaq: EGRP), a global leader in online personal financial services, will leverage Everypath technology to deliver E*TRADE's top-rated applications, content, and services to a variety of wireless data devices. E*TRADE users will have anytime, anywhere access to key features from the No. 1-rated Destination E*TRADE(SM) (Gomez Advisors, 3/00) site including stock trades, portfolio information, real-time stock quotes, and Smart Alerts(SM).
The new service is expected to become available to E*TRADE customers in 2H, 2000 and will be accessible to a variety of mobile platforms, including WAP-enabled wireless phones, PDAs, and pagers. The rich E*TRADE WAP service will be demonstrated publicly for the first time during an invitation-only media event on April 5th at Internet World 2000 in Los Angeles.
E*TRADE also completed a minority investment in Everypath, joining existing venture capital investors Sevin Rosen Funds and US Venture Partners.
"Everypath distinguished itself from other players by understanding the importance of a solid technology foundation and flexible architecture," said Tom Bevilacqua, chief corporate development and strategic investment officer of E*TRADE Group, Inc. "Everypath's technology is very adaptable to the breadth of mobile platforms that E*TRADE plans to offer. Everypath demonstrated that they could mobilize E*TRADE's rich offerings in a rapid time-frame and could satisfy our demanding levels of system performance, security and reliability. We believe that Everypath is a terrific technology foundation for today's high traffic mobile commerce sites tailored for the rapidly growing universe of wireless devices."
"We are very pleased to announce E*TRADE as a strategic partner and investor," said Everypath CEO Venktesh Shukla. "E*TRADE is one of the most complex, transaction-oriented sites in the world, and thus the perfect application to showcase the strengths of Everypath's technology. We were able to rapidly E*TRADE in a matter of days, while at the same time maintaining the integrity of the underlying data so that E*TRADE can securely, deliver stock trades and financial transactions on mobile devices in real time."
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