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Newly public online bookseller (Nasdaq: BNBN) took a significant step toward taking away market share from industry leader (Nasdaq: AMZN) with a new e-commerce deal today. announced a bookselling deal with portal site, which is owned by NBC and CNET and should benefit greatly from the newly formed interactive division of NBC.

Under the terms of the agreement, every search result page on will include a link to a co-branded page with books related to searches. will handle the transaction process and customer service. is now a member of’s affiliate network.

“With’s commitment to book buyers, this partnership will further’s goal of connecting users to exactly what they are looking for on the Internet,” said Sam Parker, vice president of

How Will Expand Next?, the fifth largest e-commerce retailer according to Media Metrix, already has strategic alliances with other major portal and content sites, including AOL, Lycos and MSN.

The question now is what does with the $421.6 million it raised in its initial public offering last week. After all, the company’s main competition,, has branched into other categories with investments in companies like and and new services like an auction house. may have to do more than sell books and music to continue its growth. However, the growth of has a big price. Wall Street has been taking a long hard look at lately and is losing patience with the company’s growing losses. Shares of had been cut in half in recent weeks. It seems wise for to expand its business, but the recent sell off of’s stock also illustrates that will have to spend a great deal of money to attract new users. Spending that money could lead to some gyrations in its stock price. Looks To Grow Fast’s alliance with, which has nearly 10 million users each month and bills itself as the fastest growing portal site, should increase in value very soon. Later this year will be merged with several NBC Internet properties and leading e-commerce site (Nasdaq: XMCM) to form NBC Internet, the first publicly traded Internet company integrated with a major broadcaster.

The new company expects to create the seventh-largest Internet site and will benefit from offline promotion on NBC’s television properties., as well as all partners, will benefit because will become the anchor site of the new Internet company,

NBC Internet expects to attract more than 18 million unique users each month, based on the traffic that the sites that will be part of the venture already are getting.

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