Bidpath and Trader.com's GSNet Form Partnership to Expand Online B2B Auction Offering to Buyers Worldwide.Business Editors, High-Tech Writers BELLEVUE, Wash.--(BUSINESS WIRE)--July 31, 2000 Bidpath Corporation (www.bidpath.com) the e-infrastructure and Internet auction distribution solution provider for the $200 billion traditional auction industry today announced a strategic alliance with GSNet (www.gsnet.com), a global online network that facilitates business-to-business heavy equipment trading, to bring Bidpath auctioneers immediate worldwide presence. With the agreement, Bidpath auctioneers are able to deliver used capital assets capital assets n. equipment, property, and funds owned by a business. (See: capital, capital account) and vehicle listings to GSNet, a Trader.com (Nasdaq:TRDR) company, bringing together buyers and sellers through its 242 publications and 47 Web sites worldwide. "GSNet and Trader.com gives our auctioneers exposure to business-to-business markets in more than seventeen countries around the world," said Scott Laster, 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 president of Bidpath. "With this increased multi-national presence, Bidpath reaches business customers 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. machinery and vehicles regardless of where they live." GSNet's web site forms a conduit conduit /con·du·it/ (kon´doo-it) channel. ileal conduit the surgical anastomosis of the ureters to one end of a detached segment of ileum, the other end being used to form a stoma on the to connect people buying and selling on an international level. Using GSNet, sellers can place their information in the GSNet searchable database Refers to databases on the Web that are searchable by typing in a query. The term is quite redundant because all databases are searchable. In fact, that is one of their major features. for buyers to access. "Our goal in establishing this relationship with Bidpath is to expand our e-commerce resources to provide richer content for GSNet sellers and buyers," said Gregg Oldring, General Manager of GSNet Trader.com. "With new listings through Bidpath, our customers have access to a larger variety of the best quality items in the market. It's an unbeatable, comprehensive solution for all concerned." The $200 billion auction industry has had difficulty accessing the Internet until recently when Bidpath deployed an industry-specific solution. In the traditional arena, auctioneers struggled to efficiently gather information and get massive listings properly distributed on the Internet. Bidpath simplifies the process through a combination of hardware, software and Internet distribution relationships which automate, aggregate, and syndicate postings and records processes. Bidpath customers benefit from improvements in efficiencies using Bidpath's patent-pending process that includes firmware A category of memory chips that hold their content without electrical power. Firmware includes flash, ROM, PROM, EPROM and EEPROM technologies. When holding program instructions, firmware can be thought of as "hard software." See flash memory, ROM, PROM, EPROM, EEPROM and FOTA. that comes loaded on a special digital camera. The information is later downloaded to a laptop computer using Bidpath software. These listings are transferred to Bidpath and automatically distributed by category to the most appropriate online auction exchanges, which are partnered with Bidpath. About GSNet GSNet, a Trader.com company, attracts more than 100,000 potential buyers a month to search one of the largest inventories of heavy equipment and trucks on the Internet. Founded in 1995, GSNet is an Internet pioneer in building business-to-business (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 ) sites, facilitating more than US$500 million in sales since its inception. Since Trader.com's acquisition of GSNet in 1998, the site has attracted buyers from more than 100 countries. For additional information about GSNet' s products and services, please visit www.gsnet.com. About Trader.com:
Trader.com -- "The International Marketplace Around the Corner"
-- Trader.com marketplaces facilitate more than 14 million
transactions per year, generating billions of Euros in commerce
-- 47 web sites with 70 million page views per month as of March 2000
-- 242 publications with 7 million readers per week
-- Trader.com conducts its businesses in 17 countries
-- More than 3,500 employees, including 1,300 sales people
-- 1999 group revenues up 20.1% to 283.3 million Euros
-- Listed on the NasdaQ (TRDR) and Premier Marche (First market of
the Paris Stock Exchange - SICOVAM code 5729) since March 31, 2000
About Bidpath Bidpath Corporation (www.bidpath.com) is building a bridge between bricks-and-mortar auction companies and business-to-business and business-to-consumer online auction houses. Bidpath has built a comprehensive solution, to give traditional auction companies the tools they need to bring Internet efficiencies to the world of real auctions and taking a long labor-intensive process and making it easy. Bidpath has tapped the power of the Internet through a wide array of online auction sites to bring together existing communities. Bidpath has first mover mover /mov·er/ (moo´ver) that which produces motion. prime mover a muscle that acts directly to bring about a desired movement. advantage in the large, fragmented and self-sustaining marketplace of traditional auctioneers. Bidpath was incorporated in April 1999 and is headquartered in Bellevue, Washington Bellevue is a rapidly growing city in King County, Washington, U.S., across Lake Washington from Seattle. Long known as a suburb or satellite city of Seattle,[1] it is now categorized as an edge city or a boomburb. . The company completed its Series A funding round in December 1999. Timberline timberline, elevation above which trees cannot grow. Its location is influenced by the various factors that determine temperature, including latitude, prevailing wind directions, and exposure to sunlight. Venture Capital, the Northwest affiliate of Draper drap·er n. Chiefly British A dealer in cloth or clothing and dry goods. [Middle English, weaver or seller of cloth, from Old French drapier, from drap, cloth; see , Fisher, Jurvetson (www.dfj.com) was the lead investor. Bidpath Corporation is also partnered with Amazon.com, LiveBid Auctions (Nasdaq:AMZN AMZN Amazon.com (NASDAQ symbol) ), bLiquid.com, Rabin Brothers and Associates, Cunningham and Associates, John Roebuck This article is about the English inventor. For the 19th century British politician, see John Arthur Roebuck. John Roebuck (1718 – July 17, 1794) was an English inventor, who played an important role in the Industrial Revolution. and Associates and Auction Systems. |
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