Portal Nana10 today announced that it has signed an agreement with Facebook to represent and market the world's largest social network in Israel. Nana10 will market Facebook products to Israeli advertisers and will be the official partner of Facebook in Israel.
Nana10 will run training programs and workshops about the advantages of advertising on Facebook for Israeli advertisers. This activity is scheduled to begin during the first quarter, and will include a delegation of Facebook representatives who will meet leading Israeli advertisers and ad agencies.
Market sources say that competing portals offered Facebook NIS 10 million a year, but that this was not enough. Other sources said that Nana10 promised Facebook NIS 20 million in annual sales.
Sources close to the deal said that Microsoft Israel Ltd. brokered the Nana10-Facebook deal. Microsoft Corporation (Nasdaq: MSFT) bought 1.6% of Facebook in 2007. Nana10 also has an agreement with Microsoft Israel's online division for the joint sale of online media.
Nochi Danker-controlled IDB Holding Corp. Ltd. (TASE:IDBH) unit NetVision Ltd. (TASE: NTSN) owns half of Nana10, and the other half is owned by Channel 10, controlled by Arnon Milchen and others. NetVision's share rose 3% by midday to NIS 40.25, giving a market cap of NIS 1.86 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on January 3, 2010
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