Last week, Japanese software giant Softbank made a $400 million investment in E*Trade. Company executives announced quickly thereafter that "a significant portion" of the money would go toward acquisitions and toward marketing the Internet brokerage's new "Destination E*Trade" portal. Destination E*Trade is slated to be launched in September.
Digital Island provides for E*Trade's continued use of the company's fiber network and provides "a reliable solution for global Internet applications," said Tim Ryan, an E*Trade spokesman. E*Trade is developing financial sites in Japan, Korea, and the United Kingdom, among other countries.
Critical Path is a corporate electronic mail provider that specializes in portal sites and ISPs--including @Work and TABNet. E*Trade provided investment capital for the company to upgrade its infrastructure, and Critical Path now is E*Trade's exclusive Web-based email system, Ryan added.
Third Age is a content provider focused on the Baby Boomer generation. The company's motto is "The Web--for grownups."
"Third Age complements E*Trade's existing customer base," Ryan said. "It's a market segment [made up of] active traders."
E*Trade shares finished the day down nearly 12 percent, closing at 30.5625. The stock has traded as high as 47.875 and as low as 17.375 during the past 52 weeks.