Bid.Com Announces www.dutchauction.com.TORONTO--(BUSINESS WIRE)--Oct. 28, 1998--Bid.Com International (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BII BII Bank Internasional Indonesia BII British Institute of Innkeepers BII Bioindustry Initiative (US Department of State) BII Bronco II (Ford truck; predecessor of the Explorer) BII Basic Issue Item .) -- Closest thing to live Internet auctions -- Bid.Com International Inc., one of North America's leading online auctions, located at www.bid.com, today announced it has secured the URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. www.dutchauction.com. "We believe that our Dutch Auction Dutch Auction An auction where the price on an item is lowered until it gets its first bid, and then the item is sold at that price. Notes: The U.S. Treasury (and other countries) uses a Dutch auction when it sells securities. is a key point of differentiation in the online marketplace, and by owning www.dutchauction.com we are fortifying our longstanding position within this online auction category," said Paul Godin, 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. and Chairman of Bid.Com. "Our Dutch Auction, in real time, is the closest thing yet to a live online auction. It provides instant gratification in an entertaining forum. And the fact that our Dutch Auction is able to support thousands of simultaneous users, puts it well ahead of all other e-tailing formats." In a Dutch Auction, a starting price starting price n (COMM) → precio inicial starting price n → prix initial starting price start n (at auction is set and a limited time period is allocated for a given quantity of product to be auctioned (three to five minutes for most Bid.Com items). Participants see real-time price declines and time remaining as the auction progresses. They also see the reduction in the quantity of goods available for sale as purchases are made, and are able to have a real-time interactive dialogue with the auctioneer. As a result, the longer a participant waits, the lower the price. However, if a shopper waits too long, the inventory may be sold out. Consumers know immediately if their bid becomes a successful purchase. As site traffic has increased, the company has found the Dutch Auction to be more effective in a number of product categories than Top Bid auctions. "We expect that the declining price auction format should capture a meaningful share of the forecast $50+ billion online auction industry by 2002," said Jeff Lymburner, President, Bid.Com. "In particular, we believe that the Dutch Auction will prove to be a superior format for liquidation opportunities and that it will be of special appeal to business-to-business commodity transactions, which is predicted to be the largest segment of the online auction marketplace." To support its goal of being the technological leader in online auctions, Bid.Com has created an easily integrated, fully Year 2000-compliant system, which has the capability of running many concurrent rising price auctions, falling price auctions and static priced e-commerce transactions imbedded with state-of-the-art bid and search agents. The technology has proven its scalability to many thousands of simultaneous users, its adaptability to multiple countries and currencies, as well as its assembly line operational efficiency, and its plug and play user interface. Bid.Com also offers its auction for license, either as stand-alone turnkey installation on client servers, or as custom-branded applications from Bid.Com's servers. The Dutch Auction is currently available to U.S.-resident customers of Bid.Com. Dutchauction.com will link to these events on October 29. Canadian customers can expect real-time Dutch Auctions in future as part of Bid.Com's license and services agreement with Rogers Media Rogers Media Inc is a subsidiary of Rogers Communications Inc., which owns Canada's largest publishing company, Rogers Publishing Limited, which has more than 70 consumer and business publications. Rogers Media Inc. Inc. Bid.Com International Inc. (formerly known as Internet Liquidators International Inc.) was founded in 1995 and listed on The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. in February 1998. With offices in Toronto, Ontario and Tampa, Florida “Tampa” redirects here. For other uses, see Tampa (disambiguation). Tampa is a United States city in Hillsborough County, on the west coast of Florida. It serves as the county seat for Hillsborough County.GR6. , it is one of the Internet's leading online auction sales organizations. The company offers a compelling, entertaining, and cost-effective method of selling a wide array of goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. over electronic distribution channels. In addition to its strategic alliances with America Online See AOL. , The Toronto Star Newspapers Limited, and Rogers Media Inc., the company enjoys distribution agreements with Yahoo!, Netscape, Metacrawler, and more recently with ComputerShopper.com, a Ziff-Davis property. Bid.Com is strategically positioned to leverage its technological leadership by offering the pre-eminent online auction platform for license to business-to-business markets and for distribution through broadband/cable media. |
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