FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * HOAG JAY C   2. Issuer Name and Ticker or Trading Symbol ELOYALTY CORP [ELOY] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director __X__ 10% Owner _____ Officer (give title below) __X__ Other (specify below) May be part of a 13 (g) group (Last) (First) (Middle) C/O TECHNOLOGY CROSSOVER VENTURES, 528 RAMONA STREET 3. Date of Earliest Transaction (Month/Day/Year) 12/15/2006 (Street) PALO ALTO, CA 94301 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) ___ Form filed by One Reporting Person _X_ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 12/15/2006   X   185,231 A $ 17.97 719,076 I TCV IV, L.P. (1) Common Stock 12/15/2006   X   6,964 A $ 17.97 26,992 I TCV IV Strategic Partners, L.P. (2) Common Stock               6,524 I TCV III, L.P. (3) Common Stock               173,418 I TCV III (Q), L.P. (4) Common Stock               7,851 I TCV III Strategic Partners, L.P. (5) Common Stock               1,372 I TCV III (GP) (6)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Subscription Rights (right to buy)

$ 17.97

12/15/2006

X

185,231

11/20/2006

12/15/2006

Common Stock

185,231

$ 0

0

I

TCV IV, L.P.

Subscription Rights (right to buy)

$ 17.97

12/15/2006

X

6,964

11/20/2006

12/15/2006

Common Stock

6,964

$ 0

0

I

TCV IV Strategic Partners, L.P.

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
HOAG JAY C C/O TECHNOLOGY CROSSOVER VENTURES 528 RAMONA STREET PALO ALTO, CA 94301	X	X		May be part of a 13 (g) group
KIMBALL RICK C/O TECHNOLOGY CROSSOVER VENTURES 528 RAMONA STREET PALO ALTO, CA 94301		X		May be part of a 13 (g) group
TECHNOLOGY CROSSOVER MANAGEMENT IV LLC C/O TECHNOLOGY CROSSOVER VENTURES 528 RAMONA STREET PALO ALTO, CA 94301		X		May be part of a 13 (g) group
TCV IV LP C/O TECHNOLOGY CROSSOVER VENTURES 528 RAMONA STREET PALO ALTO, CA 94301		X		May be part of a 13 (g) group
TCV IV STRATEGIC PARTNERS LP C/O TECHNOLOGY CROSSOVER VENTURES 528 RAMONA STREET PALO ALTO, CA 94301				May be part of a 13 (g) group
TECHNOLOGY CROSSOVER MANAGEMENT III LLC C/O TECHNOLOGY CROSSOVER VENTURES 528 RAMONA STREET PALO ALTO, CA 94301				May be part of a 13 (g) group
TCV III LP C/O TECHNOLOGY CROSSOVER VENTURES 528 RAMONA STREET PALO ALTO, CA 94301				May be part of a 13 (g) group
TCV III Q LP C/O TECHNOLOGY CROSSOVER VENTURES 528 RAMONA STREET PALO ALTO, CA 94301				May be part of a 13 (g) group
TCV III STRATEGIC PARTNERS LP C/O TECHNOLOGY CROSSOVER VENTURES 528 RAMONA STREET PALO ALTO, CA 94301				May be part of a 13 (g) group
TCV III GP C/O TECHNOLOG Y CROSSOVER VENTURES 528 RAMONA STREET PALO ALTO, CA 94301				May be part of a 13 (g) group

Signatures

Carla S. Newell, authorized signatory for Jay C. Hoag		12/19/2006
**Signature of Reporting Person		Date
Carla S. Newell, authorized signatory for Richard H. Kimball		12/19/2006
**Signature of Reporting Person		Date
Carla S. Newell, authorized signatory for Technology Crossover Management IV, L.L.C.		12/19/2006
**Signature of Reporting Person		Date
Carla S. Newell, authorized signatory for TCV IV, L.P.		12/19/2006
**Signature of Reporting Person		Date
Carla S. Newell, authorized signatory for TCV IV Strategic Partners, L.P.		12/19/2006
**Signature of Reporting Person		Date
Carla S. Newell, authorized signatory for Technology Crossover Management III, L.L.C.		12/19/2006
**Signature of Reporting Person		Date
Carla S. Newell, authorized signatory for TCV III, L.P.		12/19/2006
**Signature of Reporting Person		Date
Carla S. Newell, authorized signatory for TCV III (Q), L.P.		12/19/2006
**Signature of Reporting Person		Date
Carla S. Newell, authorized signatory for TCV III Strategic Partners, L.P.		12/19/2006
**Signature of Reporting Person		Date
Carla S. Newell, authorized signatory for TCV III (GP)		12/19/2006
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Jay C. Hoag ("Hoag") and Richard H. Kimball ("Kimball") are managing members of Technology Crossover Management IV, L.L.C. ("TCM IV") which is the general partner of TCV IV, L.P. These shares are directly held by TCV IV, L.P. and indirectly held by Hoag, Kimball and TCM IV. Hoag, Kimball and TCM IV may be deemed to own the shares held by TCV IV, L.P. but Hoag, Kimball and TCM IV disclaim beneficial ownership of such shares except to the extent of their pecuniary interest therein.
(2)	Hoag and Kimball are managing members of TCM IV which is the general partner of TCV IV Strategic Partners, L.P. These shares are directly held by TCV IV Strategic Partners, L.P. and indirectly held by Hoag, Kimball and TCM IV. Hoag, Kimball and TCM IV may be deemed to own the shares held by TCV IV Strategic Partners, L.P. but Hoag, Kimball and TCM IV disclaim beneficial ownership of such shares except to the extent of their pecuniary interest therein.
(3)	Hoag and Kimball are managing members of Technology Crossover Management III, L.L.C. ("TCM III") which is the general partner of TCV III, L.P. These shares are directly held by TCV III, L.P. and indirectly held by Hoag, Kimball and TCM III. Hoag, Kimball and TCM III may be deemed to own the shares held by TCV III, L.P. but Hoag, Kimball and TCM III disclaim beneficial ownership of such shares except to the extent of their pecuniary interest therein.
(4)	Hoag and Kimball are managing members of TCM III which is the general partner of TCV III (Q), L.P. These shares are directly held by TCV III (Q), L.P. and indirectly held by Hoag, Kimball and TCM III. Hoag, Kimball and TCM III may be deemed to own the shares held by TCV III (Q), L.P. but Hoag, Kimball and TCM III disclaim beneficial ownership of such shares except to the extent of their pecuniary interest therein.
(5)	Hoag and Kimball are managing members of TCM III which is the general partner of TCV III Strategic Partners, L.P. These shares are directly held by TCV III Strategic Partners, L.P. and indirectly held by Hoag, Kimball and TCM III. Hoag, Kimball and TCM III may be deemed to own the shares held by TCV III Strategic Partners, L.P. but Hoag, Kimball and TCM III disclaim beneficial ownership of such shares except to the extent of their pecuniary interest therein.
(6)	Hoag and Kimball are managing members of TCM III which is the general partner of TCV III (GP) These shares are directly held by TCV III (GP) and indirectly held by Hoag, Kimball and TCM III. Hoag, Kimball and TCM III may be deemed to own the shares held by TCV III (GP) but Hoag, Kimball and TCM III disclaim beneficial ownership of such shares except to the extent of their pecuniary interest therein.

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