Buy.com to Enter Into Joint Venture With @viso; Relationship Accelerates Buy.com's Entry into Continental Europe.ALISO VIEJO, Calif. and PARIS--(BUSINESS WIRE)--Oct. 7, 1999-- Buy.com, a leading Internet retailer and e-commerce portal site Noun 1. portal site - a site that the owner positions as an entrance to other sites on the internet; "a portal typically has search engines and free email and chat rooms etc. , today announced it has entered into a letter of intent to form a joint venture with @viso (Atviso), a recently formed joint venture between Japan-based SOFTBANK Corporation and Vivendi of France. @viso was established to facilitate the rapid market entry of U.S. Internet companies into continental Europe Continental Europe, also referred to as mainland Europe or simply the Continent, is the continent of Europe, explicitly excluding European islands and, at times, peninsulas. . As part of the joint venture, @viso will provide Buy.com with a full set of market access services, including identifying local competitors and potential partners, in order to accelerate Buy.com's position in Europe. @viso will act as an incubator, providing capital, infrastructure, and local support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services , including strategic marketing, technical facilities and personnel resources. "We believe that together with @viso we have a powerful combination that allows us to duplicate our already very successful U.S. business model in Europe," said Greg Hawkins Gregory Dale Hawkins was a trader and principal in the hedge fund Long-Term Capital Management that after four spectacularly successful years lost most of its clients' money in 1998 when the Russian government defaulted on its debt payments on August 17, 1998, triggering a , 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 Buy.com. "The European online shopping market is growing rapidly, and is estimated to reach $18 billion in online sales within the next five years.(a) We are excited to join into the race with such a formidable partner." Masayoshi Son Masayoshi Son (Japanese: 孫正義, Son Masayoshi; born August 111957 in Tosu, Saga Prefecture, Japan) is a Korean-Japanese and the founder and current chief executive officer of Softbank Capital, and the chief executive officer of SoftBank Mobile (the , chairman of SOFTBANK Corp., said, "Buy.com has set the standard for online retailing in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , and I am confident that its proven business model, strong management team, and aggressive approach to growth, will not only make Buy.com a major force in the European Internet market, but also initiate a shift in the structure of retailing throughout Europe." About @viso Formed in July of this year, @viso (Atviso) is a joint venture between Vivendi and SOFTBANK, aimed at helping US Internet companies gain rapid market entry into continental Europe. Its regional expertise and toolboxes of services -- including state-of-the-art technical facilities and marketing, legal, PR and recruitment services -- help businesses expand into new territory. Additional information about @viso can be found at www.atviso.com. About Vivendi With net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of 39 billion euros (estimated for 1999) and 260,000 employees in over 100 countries, Vivendi is the world leader in Environmental Services The various combinations of scientific, technical, and advisory activities (including modification processes, i.e., the influence of manmade and natural factors) required to acquire, produce, and supply information on the past, present, and future states of space, atmospheric, and a major player in communications. Vivendi owns Cegetel, the largest French private telecommunications operator, Europe's leading pay-television company Canal+, and the publishing giant Havas. About SOFTBANK Corp. SOFTBANK Corp. has emerged as one of the world's leading Internet market forces. Through its ownership positions in more than 100 Internet companies and its unique Internet-zaibatsu management concept, it is able to create market synergies for its family of companies on a global scale. In Japan its activities encompass distribution, publishing, Internet media platforms, a broad range of e-commerce businesses, and joint ventures with companies such as Microsoft, Cisco, Yahoo!, 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 , and many other market leaders. In the US, Softbank is the largest shareholder in leading Internet companies such as Yahoo!, E-TRADE and ZDNet, and in Europe has established Internet joint ventures with News Corp. and Vivendi. About BUY.COM BUY.COM is a leading Internet superstore, offering a comprehensive selection of brand name computer hardware and peripherals, software, books, videos, DVDs, computer games, music and surplus equipment at everyday low prices. Through seven online specialty stores -- BUYCOMP.COM, BUYSOFT.COM, BUYBOOKS.COM, BUYVIDEOS.COM, BUYMUSIC.COM, BUYGAMES.COM, and BUYCLEARANCE.COM -- BUY.COM offers more than 800,000 products in a convenient, intuitive shopping interface that features extensive product information and multi-media presentations. BUY.COM's e-commerce portal, www.buy.com, links all eight specialty stores and is designed to enhance the customer's online shopping experience 24 hours a day, seven days a week. More information on BUY.COM is available at the corporate Website, www.buy.com. Note to Editors: BUY.COM, BUYCOMP.COM, BUYSOFT.COM, BUYBOOKS.COM, BUYVIDEOS.COM, BUYMUSIC.COM, BUYGAMES.COM, and BUYCLEARANCE.COM are trademarks or service marks of BUY.COM Inc. All other trademarks and registered marks belong to their respective owners. (a) According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a report published Aug. 5, 1999 by Fletcher Research. |
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