America Online and PurchasePro.com Join Forces in Strategic Alliance to Create Universal B2B Exchange.Business & Technology Editors DULLES, Va. and LAS VEGAS--(BUSINESS WIRE)--March 20, 2000 Multi-Million Dollar Development and Marketing Agreement To Create Next Generation E-Marketplaces For Businesses Of All Sizes America Online See AOL. , Inc. (NYSE NYSE See: New York Stock Exchange : AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. ), the world's leading interactive services company, and PurchasePro.com (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : PPRO PPRO Personal Public Relations Officer (Church of Scientology) ), the leader in browser-based, business-to-business electronic commerce, today announced a three-year strategic alliance to provide business users of several AOL brands with a complete electronic commerce solution powered by PurchasePro.com. Under the agreement, the companies will co-develop future technologies and business exchanges to better enable businesses of all sizes and across all industries to increase sales and reduce supply costs. The companies will co-develop a business exchange for the millions of business users across AOL, AOL.COM, CompuServe and Netscape Netcenter. PurchasePro.com will power the easy-to-use, interactive marketplace with its robust leading browser-based e-commerce solution, allowing users to source, bid, negotiate, buy and sell their products and services across multiple vertical and horizontal business markets. The exchange interfaces will be tailored specifically to the size and type of business. The co-branded AOL/PurchasePro.com business marketplace is expected to roll out by the end of second quarter 2000. "Our strategic alliance with PurchasePro.com will enable us to work together to deliver the most advanced, scalable, end-to-end e-commerce solution to businesses of all sizes," said Bob Pittman, President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of America Online, Inc.. "Our co-branded marketplace will deliver each business a solution that will give them the ability to manage the electronic buying and selling process with greater ease-of-use and convenience." "Together, AOL and PurchasePro.com will create the future of B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business electronic commerce - a flexible commerce exchange platform that integrates millions of business users across the AOL brands into a powerful mass marketplace," said Charles E. Johnson For the U.S. politician, see . Charles E. Johnson was a New York burglar who was listed on the FBI's Ten Most Wanted during 1953. While still a teenager, Johnson was first arrested for burglary in 1921. , Chairman and 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 PurchasePro.com. "Our relationship with AOL further solidifies our leadership position in reaching the critical mass of businesses with our browser-based end-to-end solution (jargon) end-to-end solution - (E2ES) A term that suggests that the supplier of an application program or system will provide all the hardware and/or software components and resouces to meet the customer's requirement and no other supplier need be involved. Compare: turn-key solution. ." "By adding the breadth of PurchasePro.com's resources to our current business-to-business offerings, we can offer users of our key brands a complete e-commerce solution, providing real value by saving them both time and money," said Jim Martin, Senior Vice President and General Manager of Netscape Netcenter. AOL and PurchasePro.com will create this next generation B2B marketplace by combining their existing, proprietary technologies with new technologies to be co-developed and co-owned by the two companies. The marketplace will be entirely browser-based and will facilitate e-commerce for the smallest to the largest of businesses. Under terms of the agreement the companies will jointly develop future functionality that will continue to revolutionize the B2B sector. A blended team of AOL and PurchasePro.com product engineers will lead the development process. In addition, PurchasePro.com will distribute a co-branded version of AOL Instant Messenger See AIM. (AIM) on its Web site, www.purchasepro.com, enabling PurchasePro.com customers to easily communicate with buyers, suppliers and others in real time. The AOL/PurchasePro.com business exchange will allow any sized company to easily interact with its own suppliers, reducing purchasing costs significantly. In addition, the marketplace will link businesses with new buyers and suppliers to increase sales and develop new efficiencies, with every step of the buying and selling relationships occurring online. Under the agreement, the two companies will share advertising and transaction revenue and AOL will have the opportunity to earn performance-based warrants. About America Online, Inc. Founded in 1985, America Online, Inc., based in Dulles, VA, is the world's leader in interactive services, Web brands, Internet technologies and e-commerce services. America Online, Inc. operates two worldwide Internet services: America Online, with more than 21 million members, and CompuServe, with more than 2.5 million members; several leading Internet brands including ICQ ("I Seek You") A conferencing program for the Internet from Mirabilis, Tel Aviv, Israel (www.icq.com). It provides interactive chat, e-mail and file transfer and can alert you when someone on your predefined list has also come online. , AOL Instant Messenger and Digital City, Inc.; the Netscape Netcenter and AOL.COM portals; the Netscape Navigator An earlier Web browser for Windows, Macintosh and X Windows from Netscape that provided secure transmission over the Internet. Soon after its introduction in 1994, Navigator, or just "Netscape," as it was commonly called, quickly became the leading browser on the Web. and Communicator browsers; AOL MovieFone, the nation's No. 1 movie listing guide and ticketing service; Spinner Networks and NullSoft, Inc., leaders in Internet music; and Digital Marketing Services, a company specializing in online rewards programs and online market research. Through its strategic alliance with Sun Microsystems Sun Microsystems, Inc. (NASDAQ: JAVA[3]) is an American vendor of computers, computer components, computer software, and information-technology services, founded on 24 February 1982. , the company develops and offers easy-to-deploy, end-to-end e-commerce and enterprise solutions for companies operating in the Net Economy. About PurchasePro.com PurchasePro.com is a leading provider of Internet business-to-business electronic commerce services. The company's e-commerce solution is composed of public and private marketplaces where businesses can buy and sell a wide range of products and services in an efficient, competitive and cost-effective manner. The Company has designed its e-marketplaces to meet the needs of customers and their strategic business partners. A key element of its strategy is to develop sales and marketing relationships, such as those it has with IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Sprint Corporation, Advanstar Communications and Office Depot Office Depot (NYSE: ODP) is one of the world's leading suppliers of office products and services. The Company's selection of brand name office supplies includes business machines, computers, computer software and office furniture, while its business services encompass copying, , Inc. The company provides extensive support and training programs. For more information, call toll-free at 888/830-4600 or in Las Vegas at 702/316-7000. PurchasePro.com may be accessed at its Web site, www.purchasepro.com. NOTE TO EDITORS: PurchasePro.com is a trademark of PurchasePro.com, Inc. All other trademarks or registered trademarks are the property of their respective owners. This press release includes forward looking statements which are subject to a number of risks and uncertainties, including the risks and uncertainties associated with rapidly changing technologies such as the Internet, the risks of technology development and the risks of competition. Actual results could differ materially. For more information about these risks and uncertainties, see the SEC filings of PurchasePro.com, Inc, including the section entitled "Factors That May Affect Results" in its 10-Q filing for the quarterly period ended December 31, 1999 and the section entitled "Risk Factors" in its registration statement on Form S-1/A filed on February 10, 2000 with the Securities and Exchange Commission, which is available from the company on request and on the Internet at the SEC's Website, www.sec.gov. |
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