Tradeum Announces Tradeum eMarketplace Suite, a Comprehensive B2B Digital Marketplace Solution.Business Editors/High Tech WritersSAN FRANCISCO--(BUSINESS WIRE)--May 15, 2000 New, Fully-Integrated Solution for Net Market Makers Realizes VerticalNet's Vision for the Tradeum Acquisition Tradeum, a VerticalNet Inc. company (Nasdaq:VERT), today announced Tradeum eMarketplace Suite(TM), a new solution that allows companies to rapidly develop a comprehensive marketplace on the Internet. eMarketplace Suite is an integrated solution that combines the strengths of Tradeum's existing Xchange Suite product with VerticalNet's Isadra technologies for cooperative commerce and with selected strategic alliance products to create a powerful new way for companies to build a digital marketplace. Tradeum eMarketplace Suite allows net market makers to rapidly establish and grow critical mass in their marketplace by providing an end-to-end solution (jargon) end-to-end solution - (E2ES) A term that suggests that the supplier of an application program or system will provide all the hardware and/or software components and resouces to meet the customer's requirement and no other supplier need be involved. Compare: turn-key solution. that includes market design tools, multiple transaction types, multi-party system A multi-party system is a system in which three or more political parties have the capacity to gain control of government separately or in coalition. Unlike a single-party system (or a non-partisan democracy), it encourages the general constituency to form multiple distinct, interaction, and a broad range of buy and sell-side services. "One of the driving forces behind our acquisition of Tradeum was to bring together the core competencies needed to deliver a powerful, all-encompassing solution for the builders of digital marketplaces," said Mark Walsh
Mark Walsh is an entrepreneur, venture capitalist, and political activist. , president and chief executive officer of VerticalNet. "By tightly integrating Tradeum and Isadra technologies with VerticalNet's marketplace expertise, Tradeum is providing the most complete solution available today -- helping companies to quickly build a more robust and differentiated commercial marketplace." eMarketplace Suite expands on the current Xchange Suite commerce platform, which allows multiple buyers, sellers and transaction enablers to be matched real-time on a simultaneous, parameter-by-parameter basis using auction, exchange, request for quote (RFQ RFQ Request For Quote RFQ Request For Quotation RFQ Request for Qualifications (part of a potential client's preliminary selection process) RFQ Radio Frequency Quadrupole (accelerator technology) ), request for proposal (RFP (Request For Proposal) A document that invites a vendor to submit a bid for hardware, software and/or services. It may provide a general or very detailed specification of the system. 1. (business) RFP - Request for Proposal. 2. ) and catalog transactions. Combined with Isadra, the new solution now provides agent-based information integration across distributed, owner-managed catalogs and business systems. This allows suppliers to dynamically present product and service data to the market and to seamlessly integrate product information without changing their business systems and processes. Tradeum eMarketplace Suite also permits net market makers to offer parametric searching of products and services, giving market participants greater access to a rich supply of information. Net market makers can use Tradeum eMarketplace Suite to offer buyers and sellers an easier and more efficient way to participate in their markets. The new solution leverages a comprehensive set of transaction capabilities as well as procurement, workflow and e-commerce operations, through strategic partnerships with RightWorks and Yantra Yantra is a Sanskrit word that is derived from the root meaning "to restrain, curb, check".[1][2] Meanings for the noun derived from this root include "that which restrains or fastens, any prop or support", "a fetter", "any instrument or machine", "an , to help net market makers support the complete buying and selling process. "This is the first time that net market makers will have access to a fully-functional, fully-integrated commerce solution for their marketplaces -- complete with a transaction platform and buy and sell-side services," said Zev Laderman, chief executive officer of Tradeum. "Tradeum eMarketplace Suite gives these customers the tools they need to meet the demands of buyers and sellers within their own marketplaces." Overall, the eMarketplace Suite solution delivers a full range of transaction capabilities, optimal Transaction Discovery(TM), a comprehensive set of buy and sell-side services and value-added commerce services to accelerate time to market and to liquidity for Tradeum's customers. Tradeum's eMarketplace Suite includes: -- Buy-side functionality -- user interface components, cataloguing, workflow, requisitioning, purchase order and project tracking functionality available from a subset of RightWorks' B2B exchange platform -- e-Commerce Operations -- branded showcasing of products and services offered through VerticalNet, and real-time order management, delivery management, reverse logistics, supplier management and inventory management available using Yantra's PureEcommerce(TM) solution -- Value-added Solution Partners -- critical support services for managing business processes necessary to complete the transaction, such as extending credit, tax, freight, international import/export logistics, are provided through other strategic partnerships Through integration to strategic partners, eMarketplace Suite also offers comprehensive buyer and seller services: -- Buy-side functionality -- user interface components, cataloguing, workflow, requisitioning, purchase order and project tracking functionality available from a subset of RightWorks' B2B exchange platform -- e-Commerce Operations -- branded showcasing of products and services offered through VerticalNet, and real-time order management, delivery management, reverse logistics, supplier management and inventory management available using Yantra's PureEcommerce(TM) solution -- Value-added Solution Partners -- critical support services for managing business processes necessary to complete the transaction, such as extending credit, tax, freight, international import/export logistics, are provided through other strategic partnerships Tradeum eMarketplace Suite is expected to be available in Q3 of calendar year 2000. About Tradeum Building Digital Markets. Delivering the Networked Economy. Tradeum, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of VerticalNet, Inc., is a leading innovator in building digital marketplaces. Using Tradeum eMarketplace Suite(TM), net market makers and Global 2000 enterprises rapidly establish and accelerate liquidity in their marketplaces. Tradeum eMarketplace Suite is an end-to-end solution that includes market design tools, multiple transaction mechanisms, multi-party information integration and a broad range of buyer and seller services to build scaleable, dynamic marketplaces. Tradeum also provides professional implementation services and back-end market hosting services. Headquartered in San Francisco, California “San Francisco” redirects here. For other uses, see San Francisco (disambiguation). The City and County of San Francisco (EN IPA: [sænfrənˈsɪskoʊ] , Tradeum can be reached at www.tradeum.com or 415/995-2080. About VerticalNet, Inc. VerticalNet, Inc. (www.verticalnet.com), owns and operates 55 industry-specific Web sites designed as online business-to-business communities, known as vertical trade communities. These vertical trade communities provide users with comprehensive sources of information, interaction and e-commerce. They are grouped into the following industry sectors: ADVANCED TECHNOLOGIES, COMMUNICATIONS, ENVIRONMENTAL, FOOD AND PACKAGING, FOODSERVICE AND HOSPITALITY, HEALTHCARE/SCIENCE, MANUFACTURING AND METALS, PROCESS, PUBLIC SECTOR, SERVICE, TEXTILES AND APPAREL. Additionally, VerticalNet provides auctions, catalogs, bookstores, career services and other e-commerce capabilities horizontally across its communities with sites like Industry Deals.com, IT CareerHub.com LabX.com, Professional Store.com. VerticalNet's NECX Exchange provides an exchange for the electronic components industry. VerticalNet is the registered trademark of VerticalNet, Inc. About RightWorks Founded in 1996, RightWorks is the leading provider of software for powering the 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 exchanges that lie at the heart of digital marketplaces across the Internet. RightWorks offers an extensive range of capabilities that are being adopted by net market makers -- all of which are available as in-house or hosted solutions. RightWorks 5.0, the latest release of the company's flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , is architected to take advantage of the dynamic and distributed nature of the Internet with innovations such as an open "many-to-many" trading platform, Universal Network Content(TM), and Business Personalization Custom tailoring information to the individual. On the Web, personalization means returning a page that has been customized for the user, taking into consideration that person's habits and preferences. (TM). RightWorks customers represent a wide range of markets and include companies such as CSC (Card Security Code) A three- or four-digit number printed on the back of credit cards for security purposes. Called "Card Verification Value" (CVV) by Visa, "Card Validation Code" (CVC) by MasterCard and "Card Identification (CID) by American Express and Discover, , Embion, FacilityPro.com, ShopNow.com, VerticalNet, Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. Bank and others. RightWorks is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. backed by Sequoia Capital Sequoia Capital is a venture capital firm founded by Don Valentine in 1972. The firm's partners include Don Valentine, Pierre Lamond, Michael Moritz, Doug Leone, Mike Goguen, Mark Stevens, Jim Goetz, Sameer Gandhi, Roelof Botha, and Mark Kvamme. and others. Based in San Jose San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif., RightWorks can be reached at 408/882-0350 and at www.rightworks.com. About Yantra Yantra is a leading provider of e-Commerce Operations solutions for the Net economy. Yantra's expertise in supply chain execution, manufacturing, retail, and net marketplace business models enables the company to provide comprehensive solutions to the challenges facing today's e-businesses. Yantra's PureEcommerce(TM) enables flawless execution of transaction management across the extraprise and ensures a superior, value-added buyer and seller experience. Yantra has implemented the PureEcommerce solution with leading Fortune 500 companies, B2B e-Businesses, e-Retailers, and Net Marketplaces, such as Honeywell, Motorola, Texas Instruments See TI. (company) Texas Instruments - (TI) A US electronics company. A TI engineer, Jack Kilby invented the integrated circuit in 1958. Three TI employees left the company in 1982 to start Compaq. , VerticalNet, SciQuest.com, Purchasing Center, Toysmart.com, and Chempoint.com. Yantra Corporation, founded in 1995, is privately held and is based in Acton, Massachusetts Acton is a suburban town in Middlesex County, Massachusetts, United States about twenty-one miles west-northwest of Boston along Route 2 west of Concord and about eleven miles (18 km) southwest of Lowell. The population was 20,331 at the 2000 census. . For more information, visit www.yantra.com This announcement contains 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. that involve risks and uncertainties, including statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the expected benefits and performance capabilities of Tradeum's commerce platform as well as statements that are preceded by, followed by or include the words "believes," "will," "plans," "intends," "expects," "anticipates," or similar expressions. For such statements, VerticalNet claims the protection 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. for forward-looking statements contained in 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 the results predicted, and reported results should not be considered as an indication of future performance. Factors that could cause actual results to differ from those contained in the forward-looking statements include issues relating to the integration and performance of the technology , as well as, those factors set forth in VerticalNet's 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. for the period ended December 31, 1999, which has been filed with the SEC. VerticalNet undertakes no responsibility to publicly update or revise any of the forward-looking statements that may be in this release. |
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