Creative Labs Teams with FairMarket to Make Bidding a Blast! Digital Entertainment Industry Leader Kicks Off Auction Site With New Digital Audio Players From --Pound Sterling--1.Business/Technology Editors LONDON & WOBURN, Mass.--(BUSINESS WIRE)--Oct. 10, 2000 FairMarket, Inc. (Nasdaq:FAIM FAIM Fellow of the Australian Institute of Management FAIM Foundation for the Advancement of Innovative Medicine ), a leading provider of outsourced, online selling solutions, today announced that Creative Labs, a global leader in digital entertainment products, is using FairMarket's cutting-edge auction technology to create an exciting and competitive environment for the sale of its PC and digital entertainment products. The new site, www.auction.europe.creative.com, goes live today. The new auction will give gamers the challenge of bidding competitively for many items including PC DVD drives DVD drives come in a variety of speeds and options. The original drive (1x) transferred data at 1.35MB per second. By doubling the spindle speed (RPMs) for 2x drives, the transfer rate increased to 2.7MB/sec and has been increasing ever since. , speakers, webcams, communication products, market-leading sound and graphics cards and brand new products, many of which won't yet be available through normal channels. One of the featured products up for auction is Creative Labs' new Digital Audio Player See digital music player, digital media hub and digital media server. (DAP) Jukebox A storage device for multiple sets of CD-ROMs, DVDs, tape cartridges or disk modules. Using carousels, robot arms and other methods, a jukebox physically moves the storage medium from its assigned location to an optical or magnetic station for reading and writing. (TM) digital audio player. Designed to give online shoppers a buzz from competing with other buyers, the online auction also allows Creative Labs to study buyers' reactions to new product lines and analyse an·a·lyse v. Chiefly British Variant of analyze. analyse or US -lyze Verb [-lysing, -lysed] or -lyzing, who is buying what and for how much. Ultimately, this helps Creative Labs offer buyers better products and a better service. FairMarket's dynamic pricing technology enables Creative Labs to make the purchasing of multimedia and gaming technology fun for digital entertainment enthusiasts and gamers. Additionally, the auction site provides consumers with product education by making in-depth product information available. Best noted for its award-winning Sound Blaster A very popular family of sound cards from Creative Labs. In the days of DOS, Sound Blaster was the de facto interface for gaming sounds. Monaural Sound Blaster cards were introduced in 1989, and stereo cards followed in 1992 (Sound Blaster Pro). Live!(R) audio card, Creative Labs was founded with the vision that multimedia would revolutionise Verb 1. revolutionise - fill with revolutionary ideas revolutionize, inspire indoctrinate - teach doctrines to; teach uncritically; "The Moonies indoctrinate their disciples" 2. the way people interact with their PCs. A great example of this is the new DAP Jukebox, a digital audio player of multi-format compressed music files. Supporting the MP3, WAV and WMA (Windows Media Audio) An audio compression method from Microsoft. Known originally as MSAudio, this proprietary format competes with the MP3 and AAC methods. WMA encodes rapidly and is known to be especially effective at low bit rates. formats, the 6GB hard drive stores over 100 hours of CD-quality audio, all downloadable from the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the . Creative Labs will be premiering the player on the new auction site and expects bidding to be fierce, as the entry bid is only (pound sterling)1. As well as providing an e-commerce selling solution, the FairMarket-powered site provides valuable data acquisition opportunities and a platform on which Creative Labs can launch new products and carry out product price research. By studying the most popular auction products, Creative Labs can research prices to maximise demand on products in new categories. 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. Lisa Perez, Internet Business Development Manager of Creative Labs, "Auctions offer the opportunity to get a great deal on our products, while participating in a competitive, game-like environment. Since so many of our customers are gamers, this seemed a perfect fit. They're also a great way to give our customers an engaging experience on our website, which his a key part of our brand building efforts." "Creative Labs has really grasped the potential of FairMarket's dynamic pricing technology with a solution that provides loads of fun for its customers and uses the entertainment aspect to gain really valuable marketing information," said Adam Dorrell, marketing director of FairMarket UK. "It illustrates perfectly that auctions aren't just an effective means of shifting surplus or ageing stock but often, the value to be gained from the insight they give into customer buying habits can outweigh out·weigh tr.v. out·weighed, out·weigh·ing, out·weighs 1. To weigh more than. 2. To be more significant than; exceed in value or importance: The benefits outweigh the risks. the revenue generated from the auction." About Creative Labs Creative is a global leader in PC entertainment products and expands the power of the personal computer with digital entertainment solutions, comprising desktop products, Internet appliances Also called "information appliance," "smart appliance," and "Web appliance," it is a device specialized for accessing the Web and/or e-mail. Designed for ease of use, it plugs into a telephone jack or LAN connection for Internet hookup. and Internet applications and services. Founded in 1983, Creative Technology's corporate headquarters are based in Singapore, with its European head office based in the UK. The European operation currently employs over 500 staff. For further information, visit www.europe.creative.com. About FairMarket FairMarket, Inc. is the leading provider of outsourced, online, distributed selling solutions, including hosted auction, falling price, and shopping-by-request services. The company helps businesses generate online revenue by expanding e-commerce functionality and strengthening brand recognition. In the U.S., the FairMarket Network(sm) includes the some of the world's leading portals and vendors on the Web with the potential to reach millions of online shoppers. The company has offices in the UK and Australia and is headquartered in Woburn, Mass. Corporate information can be obtained on the Web at www.fairmarket.com, by calling 800-531-7871, or through the investor hotline at 1-877-4IR-FAIM. The UK office can be reached at 0207 203 8424. This press release contains information about future expectations, plans and prospects of FairMarket, Inc. that constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. for purposes of the 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. provisions under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors including but not limited to FairMarket's limited operating history; market acceptance of online auction and other e-commerce services; growth of the market for dynamic e-commerce services; the competitive nature of the online markets in which FairMarket operates; currency, regulatory and other risks associated with expansion into international markets; FairMarket's ability to retain existing customers and to obtain new customers; the operation and capacity of FairMarket's network system infrastructure; FairMarket's ability to attract and retain qualified personnel; and the other risks and uncertainties discussed under the heading "Risk Factors" in FairMarket's Registration Statement on Form S-1 filed with the Securities and Exchange Commission on March 14, 2000 in connection with FairMarket's initial public offering and the other reports filed by FairMarket from time to time with the Securities and Exchange Commission. FairMarket assumes no obligation to update any of the information included in this press release. DAP is a trademark and Sound Blaster Live! is a registered trademark of Creative Technology Limited in the US and other countries. |
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