All in the Family: Ubid CEO Discusses the Company's Acquisition by CMGI with the IT Radio Network.Business Editors LOS ANGELES--(BUSINESS WIRE)--June 7, 2000 IT Radio Network, the leading Internet eBusiness radio network, is now featuring an in-depth interview with Gregory Jones, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Ubid.com. Ubid.com is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of CMGI CMGI Commonly Maintained Grounds Infrastructures CMGI College Marketing Group Information (Services) (Nasdaq: CMGI). During the interview, Jones discussed CMGI's acquisition of Ubid, and what's ahead in the future for the company. According to Jones, the acquisition will benefit both the shareholders of Ubid and CMGI. "All we've done here is help the Ubid shareholders and the CMGI shareholders be in a much better position to capture the entire market," said Jones. "We have a tremendous number of opportunities now, because CMGI has a lot of infrastructure companies that can help turbo-boost our business into the next level." Jones also discussed how the acquisition works well with Ubid's current business model and will contribute to Ubid's continued success. "We think we have a very good business model. We have great partner relationships, so I think the combination of the CMGI companies with the Ubid business model should yield a very, very successful business," said Jones. "I think the winners here are the consumers, as they get tremendous values and opportunity." Jones also talked about the future and what we can expect to see from Ubid. "You'll see us in the B to B auction area," said Jones. "We also will provide auction service to companies through an ASP type model where they can kind of rent our technology, and you'll also see us licensing our technology." The entire interview is available free online in RealAudio (Nasdaq: RNWK RNWK Real Networks (stock symbol) ) and text at www.ITRadioNetwork.com. About IT Radio Network IT Radio Network is an online audio business magazine that features a dose of tech trends, company spotlights and one-on-one interviews with the people reshaping the world of technology. The site is produced by Sky Radio, which produces radio programs for online magazines, a network of corporate Web sites, several major airline carriers and CEOLive.com. Also currently appearing on IT Radio Network are Infospace (Nasdaq: INSP INSP Inspection INSP Inspector INSP Inspect INSP Inspirational Network INSP Institut des Nanosciences de Paris (French) INSP International Nuclear Safety Program INSP International Network on Strategic Philanthropy ), Globix (Nasdaq/SC: GBIX), CriticalPath (Nasdaq: CPTH), VerticalNet (Nasdaq: VERT), Storage Technology (NYSE NYSE See: New York Stock Exchange : STK), Elcom.com (Nasdaq: ELCO ELCO Eastern Lebanon County (school district, Pennsylvania) ELCO El Camino ELCO Electrolytic Capacitor ELCO Early Opening Local Census Office ELCO Electronic Company ), Egghead.com Inc. (Nasdaq: EGGS), Digital Island (Nasdaq: ISLD), Mercator Software (Nasdaq: MCTR) and E.Piphany (Nasdaq: EPNY). |
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