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Zap.com, the offshoot of Zapata Corp. that aims to become a heavyweight in the Web portal arena, has registered to issue more than $300 million in stock to woo Web developers to its network.
The company plans to use the stockinitially 20 million shares but eventually up to 50
million-to entice Web site owners to sign on to the Zap.com network.
Each Web site owner who joins the ZapNetwork will sign a contract granting Zap.com perpetual rights to place its ZapBox throughout the Web sites. None have joined so far.
Zap.com officials plan to collect data from visitors who use the ZapBox, the ZapNetwork and the Web sites on the network. It plans to use this data for ad targeting and delivery of other programming on the network.
In return, Zap.com will agree to pay the Web site owner a purchase price using a formula based on the number of unique users of the site each month.
Zap.com, with its headquarters here,...