Bertelsmann Takes Majority Stake in Internet Company DealPilot.com.FRANKFURT/NEW YORK--(BUSINESS WIRE)--October 7, 1999-- Bertelsmann acquired a majority stake in the Internet company DealPilot.com AG, a new price-comparison service in the field of e-commerce. Bertelsmann, the international media powerhouse A fourth-generation language from Cognos that was introduced in the late 1970s for midrange computers. It supports both character-oriented, terminal-based applications as well as Windows clients. Applications developed under PowerHouse can be imported into Cognos' Axiant client/server environment. that already manages a broad portfolio of online and e-commerce operations, now holds a 50.1 percent stake in the Internet startup. DealPilot.com was established under the name Acses in 1997. The business ranks among the world's leading online comparison shopping engines for books, music and videos. More than three-quarters of the company's revenues are generated in the US. Plans envision the rapid expansion and furthering of DealPilot.com's global reach. Online customers enter the book, music or video title of their choice on the http://www.dealpilot.com Web site regardless of whether they're located in Europe or the U.S. DealPilot.com then performs a lightning-quick search for the best deals in some 60 international online department stores This is a list of department stores. In the case of department store groups the location of the flagship store is given. This list does not include large specialist stores, which sometimes resemble department stores. and generates a list of hits. Besides showing the purchase price in several currencies, DealPilot.com also provides information on the shipping cost and time of delivery, applicable taxes and the title's availability. The surfer can then jump to the supplier's Internet pages and order the desired products at the click of a mouse. Moreover, DealPilot.com is the only comparison shopping engine to seek out the best price for an entire basket of products. DealPilot.com's offering is available to online customers free-of-charge. The company finances its operations through transaction commissions and it's e-commerce partners' promotion fees as well as through advertising and sponsoring revenues. "DealPilot.com belongs to a new generation of Internet companies that are expanding media-content offerings for the online shopper," says Bernd Schiphorst, President 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 Bertelsmann New Media. "The company deploys state-of-the-art technology and unique service opportunities that afford Internet users Internet user n → internauta m/f Internet user Internet n → internaute m/f invaluable time and money advantages when shopping online. At the same time, DealPilot.com generates additional traffic for e-commerce merchants. With DealPilot.com, Bertelsmann has added to its portfolio of online and e-commerce activities a business that harbors enormous potential." Elisabeth Schick, future President and CEO of DealPilot.com AG, explained that "E-commerce offerings are displaying rampant growth on the Net and are becoming increasingly less manageable for online shoppers. DealPilot.com makes this offering more transparent, thus enabling the customer to quickly find what he or she is looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. . Additionally, the shopper is provided a wider selection and can save money in the process. DealPilot.com is the ideal service for price-aware Internet shoppers." DealPilot.com was founded in July 1997 in Ludwigsburg by the students Christopher Muenchhoff and Christoph Janz. In spring 1999, Bertelsmann Ventures, Bertelsmann's independent venture capital fund headquartered in Santa Barbara, California Santa Barbara is a city in California, United States. It is the county seat of Santa Barbara County, California. As of the 2000 census, the city had a total population of 92,325. , and the U.S. internet expert Chip Austin each acquired a stake in DealPilot.com. "We were looking for the right kind of support for our ambitious growth plans. We found a perfect, strong partner for our worldwide Internet business in Bertelsmann," says DealPilot.com co-founder Muenchhoff. DealPilot.com has existed as a purely virtual company thus far, with its staff working from home. The company will soon open its first office spaces in Heidelberg and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . DealPilot.com currently employs a total of 12 people. Christopher Muenchhoff will function as Chief Technology Officer (CTO (Chief Technical Officer) The executive responsible for the technical direction of an organization. See CIO and salary survey. ) und Senior Vice President, Corporate Development, at DealPilot.com. Christoph Janz will occupy the position of 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. (COO (Cell Of Origin) See mobile positioning. ). Matthias Epp has been appointed Vice President, Marketing. |
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