| Business Summary | | NextCard,
Inc.
is
an
Internet-based
provider
of
consumer
credit.
The
Company
offers
an
online
credit-approval
system
for
a
Visa
card
and
provides
interactive,
customized
offers
for
credit
card
applicants.
The
Company's
product,
the
NextCard
Visa,
is
marketed
to
consumers
through
its
Website,
www.nextcard.com.
The
Company
has
entered
into
marketing
agreements
with
Websites
on
the
Internet,
and
has
marketing
relationships
with
Internet-based
affiliates,
co-branded
partners
and
affinity
groups.
The
Company
continues
to
leverage
its
technology
platform
and
marketing
expertise
into
new
product
areas.
During
the
third
quarter
of
2000,
the
Company
launched
its
secured
card
product
and
the
NextCard
Instant
Finance
Network.
The
secured
card
provides
a
low
line
of
credit
that
is
guaranteed
by
a
deposit
account
at
NextBank.
The
NextCard
Instant
Finance
Network
is
a
technology-enabled
financing
platform
for
retail
consumer
purchases. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | NextCard,
Inc.
is
an
Internet-based
provider
of
consumer
credit,
offering
an
online
credit
approval
system
for
a
Visa
card.
For
the
six
months
ended
6/30/01,
total
interest
income
fell
4%
to
$31.6
million.
Net
interest
loss
after
loan
loss
provision
totaled
$24.5
million
vs.
an
income
of
$724
thousand.
Net
loss
fell
26%
to
$31
million.
Results
reflect
a
higher
provision
for
loan
losses,
offset
by
increased
servicing
and
securitization
income
and
reduced
advertising
expenses. | More
from
Market Guide: Significant
Developments |
| | | | FY2000
Compensation | | Pay | Exer | |
| Jeremy Lent, 40 Chairman,
CSO | $688K | -- | John Hashman, 41 CEO,
Director | 470K | $2.0M | Yinzi Cai, 34 Pres,
COO | 399K | 649K | Bruce Rigione, 43 CFO,
Director | -- | -- | Robert Linderman, 49 Gen.
Counsel and Sec. | -- | -- | Dollar
amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.; "Exer" is the value of options excercised during the fiscal year. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|