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Mei Li
Senior VP
Corporate Communications
NetSuite Inc.
Phone: 650.627.1063
E-mail: meili@netsuite.com

NETLEDGER TEAMS WITH YAHOO! TO PROVIDE INTEGRATED ACCOUNTING SOLUTIONS TO YAHOO! STORE MERCHANTS

 

San Mateo, Calif.—Sept. 11, 2000. NetLedger, Inc., today announced it has reached an agreement with Yahoo! Inc. (Nasdaq: YHOO) to integrate NetLedger's anytime, anywhere online business services into Yahoo!® Store (http://store.yahoo.com), a commerce service which enables businesses to instantly create, publish and manage secure online stores to market and sell goods and services. Through this integration, retailers can have orders placed through their Yahoo! Store automatically transferred to their NetLedger account, simplifying the accounting process and allowing Yahoo! Store merchants to keep their inventory and sales data accurate more easily.

"The relationship presents the opportunity for NetLedger to add thousands of committed new users," said Evan Goldberg, president and chief executive officer of NetLedger, Inc. "Even more important to us, however, is working closely with the Yahoo! team to realize NetLedger' vision - to enable businesses to run more effectively by leveraging the power of the Internet. We are leveling the playing field to give small businesses the same opportunities as the large companies."

"The Internet is reshaping business - big business, small business, all businesses," said Larry Ellison, chief executive officer of Oracle and chairman of NetLedger, Inc. "The integration of NetLedger's accounting system with Yahoo! Store enables small businesses to go online more quickly and less expensively than ever thought possible."

The agreement allows Yahoo! Store merchants to manage their accounting more easily with an integrated login process. Yahoo! Store merchants using the combined service can enjoy NetLedger's unique online business management features, including anytime, anywhere Internet access. Additionally, the NetLedger accounting services on Yahoo! Store will have a familiar look to Yahoo! consumers due to a customized, co-branded interface developed especially for this agreement.

Yahoo! Store merchants can sign up for NetLedger's service through their Yahoo! Store Manager and receive the service free for the first two months. Beyond that, the service is available for $4.95 each month per user.

"As a leading enabler of commerce on the Web, Yahoo! is committed to providing merchants with the best tools available to effectively build and conduct business online," said Jerry Yang, co-founder and Chief Yahoo, Yahoo! Inc. "We are delighted to work with NetLedger to enable Yahoo! Store merchants to compete more easily in an increasingly competitive market."

NETLEDGER/YAHOO! STORE/ 2-2-2

Yahoo! Store is one of many data links to NetLedger that have been facilitated by SMBXML™, NetLedger's fully open data interchange standard. The integration between the platforms has been undertaken using industry standard security and encryption technology.

Used by more than 11,300 merchants, Yahoo! Store enables businesses to instantly create, publish and manage secure online stores to market and sell goods and services. Yahoo! Store enables merchants to create their own commerce-enabled store quickly for as little as $100 per month, depending on the size of their inventory. As a Yahoo! Store owner, merchants can join Yahoo! Shopping (http://shopping.yahoo.com), one of the Web's most popular commerce destinations, and gain access to millions of users. Yahoo! Store features a complete suite of management, tracking and reporting tools that provide merchants with extensive data about traffic and income sources. Retailers can quickly and effortlessly apply for services that include setting up a merchant account and credit card processing directly through Yahoo! Store.

For more information about NetSuite please visit our Web site at www.netsuite.com.

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