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FirstUSA is Everywhere Online

By Jim Bruene on June 18, 1999 11:47 AM

Possibly an interactive marketing first:
First USA card ad runs on the file download dialogue box on AOL (top left corner).

FirstUSA is an important part of FreeMac’s business model. The Silicon Valley start-up plans to give away one million iMacs (value approximately $1,000 each) to users who agree to buy Net access from Mindspring for 3 years and who apply for and qualify for a First USA credit card. We estimate that First USA is underwriting 10% to 15% of the cost of the iMacs, probably in exchange for an equity position. Given, the exposure this company will generate, it’s not a bad way to spend $100 million. We also expect many (all?) of the FreeMac-generated accounts to go into the Wingspanbank.com portfolio creating a good portion of its first one million customers.

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