Bidz.com Launches Arabic-Language Version of Its Popular Online Auction Site.CULVER CITY Culver City, city (1990 pop. 38,793), Los Angeles co., S Calif., a residential suburb of Los Angeles; inc. 1917. It is a center of the U.S. motion-picture industry, whose roots in the city date to c.1915. Its chief manufactures are rubber products and computers. , Calif. -- Bidz.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 :BIDZ), a leading online retailer of jewelry, announced today the launch of a complete Arabic-language version of its online auction site, Bidz.com. This version of the Web site can be accessed by clicking the "Arabic" banner on the Company's homepage, www.bidz.com. The Company has also hired Arabic speaking marketing personnel to better assist the new clientele. The Arabic-language site is geared to Arabic-speakers, of which there are over 400 million worldwide. It is expected that the majority of sales conducted in Arabic will come from the Middle East, which includes two countries, United Arab Emirates United Arab Emirates, federation of sheikhdoms (2005 est. pop. 2,563,000), c.30,000 sq mi (77,700 sq km), SE Arabia, on the Persian Gulf and the Gulf of Oman. and Saudi Arabia Saudi Arabia (sä `dē ərā`bēə, sou`–, sô–), officially Kingdom of Saudi Arabia, kingdom (2005 est. pop. , that
already rank in Bidz.com's top ten countries by sales. The Company
will utilize both internet and traditional advertising in the Middle
East to publicize pub·li·cize tr.v. pub·li·cized, pub·li·ciz·ing, pub·li·ciz·es To give publicity to. publicize or -cise Verb [-cizing, -cized] its Arabic translation. Bidz.com derives approximately 25% of its revenue from outside the U.S., and international revenue grew 56% in the second quarter of 2008. The Arabic-language site is the second in a series of non-English sites, which will seek to tap into the auction site's attractiveness around the world and will diversify the company's revenue stream. The Company successfully launched a Spanish language Spanish language, member of the Romance group of the Italic subfamily of the Indo-European family of languages (see Romance languages). The official language of Spain and 19 Latin American nations, Spanish is spoken as a first language by about 330 million persons version of its online auction site in May of 2008. "Our exciting auction format delivers unsurpassed value to consumers, and we have already seen strong willingness of Middle Eastern customers to make jewelry purchases online from overseas," said Leon Kuperman, Chief Technology Officer and Vice President of Business Development of Bidz.com. "We believe that the demand for jewelry in the Middle East is among the strongest in the world, and see the Arabic translation as a tremendous growth opportunity for the Company." About Bidz.com Bidz.com, founded in 1998, is an online auctioneer of jewelry. Bidz offers its products through a live auction format as well as a fixed price online retail store. To learn more about Bidz.com visit its website at www.bidz.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement This press release includes statements made by Bidz that are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, including forward-looking statements about the Company's estimated revenue, gross margins, earnings and tax rates. All statements other than statements of historical facts contained in this press release, including statements regarding the Company's future financial position, business strategy and plans and objectives of management for future operations, are forward looking statements. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," and similar expressions, as they relate to the Company, are intended to identify forward looking statements. Bidz based these forward-looking statements largely on current expectations and projections about future events and financial trends that Bidz believes may affect its financial condition, results of operations, business strategy and financial needs. Risks and uncertainties relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc these statements include the ability of the Company to attract customers to its website and offer attractive products; to maintain its website, electronic data processing See EDP. (application) Electronic Data Processing - (EDP) data processing by electronic machines, i.e. computers. systems, and systems hardware; to forecast accurately net revenue and plan for expenses; to protect intellectual property rights; and potential litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. and government enforcement actions that may result from our prior securities offerings. All forward-looking statements are qualified in their entirety by reference to the factors described in Part I, Item 1A, "Risk Factors" in Bidz' 2006 Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , and in Part II, Item 1A, "Risk Factors" in Bidz' Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended September 30, 2007, that could cause the actual results of Bidz to differ materially from those projected in such forward-looking statements. All subsequent forward-looking statements, whether written or oral and whether made by or on behalf of Bidz, also are expressly qualified by these cautionary statements. Any forward-looking statement speaks only as of the date on which such statement is made, and Bidz undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time and it is not possible for Bidz to predict all such factors, nor can it assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. |
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`dē ərā`bēə, sou`–, sô–)
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