The joint company, to be established with $7 million in capital, will provide a localized version of Microsoft's CarPoint Web site. Softbank will hold a 50% stake in the company, and Microsoft and Yahoo! will hold 40% and 10% stakes, respectively. The partners plan to launch the new Web site in November. Initially, the site will provide information for new car buyers only.
Copyright April 1999, Crain Communications Inc.