Zoovy Inc. and uBid Announce Strategic Agreement; Zoovy Merchants Gain Increased Exposure Through uBid's Consumer Exchange Marketplace.Business Editors SAN DIEGO--(BUSINESS WIRE)--June 13, 2002 Zoovy Inc., an auction management and e-commerce company that empowers businesses to reach dynamic online markets and increase sales, finalized See finalization. an agreement with uBid, a leading retail auction and e-commerce marketplace and majority-owned operating company operating company A business that engages in transactions with outsiders. of CMGI CMGI Commonly Maintained Grounds Infrastructures CMGI College Marketing Group Information (Services) Inc. (Nasdaq:CMGI). The agreement enables merchants using Zoovy to effortlessly ef·fort·less adj. Calling for, requiring, or showing little or no effort. See Synonyms at easy. ef  fort·less·ly adv. sell
products at uBid, drawing exposure from a sophisticated user base.
"This agreement provides our merchants with an incredible opportunity to maximize their online presence," said David Steel This article is about the British politican. For his father, the Very Rev Dr David Steel, see David Steel (Church of Scotland minister). David Martin Scott Steel, Baron Steel of Aikwood , 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 Zoovy. "uBid has a large user base 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. bargains on brand name merchandise, as well as an extensive offering in the computers and consumer electronics categories. There was no question in our mind that uBid was a 'must have' for our merchants." As e-marketplace experts, Zoovy works with companies to formulate a strategy to quickly increase online sales. Overstocked, returned or unsold inventory is introduced to millions currently buying through dynamic-pricing channels such as uBid, thus significantly increasing inventory turnover. Christian Feuer, uBid president and chief executive officer, added "uBid's relationship with Zoovy furthers our goal to offer exceptional value to our customers as we are able to offer them even more brand name products to choose from, while providing Zoovy's merchants with access to uBid's sizable siz·a·ble also size·a·ble adj. Of considerable size; fairly large. siz a·ble·ness n. and targeted audience.
Zoovy's merchants have already begun utilizing our services and
have told us that they appreciate the ease of selling products through
uBid's Consumer Exchange where, no listing fees are charged."
About uBid uBid, a majority-owned operating company of CMGI Inc., is a leading retail auction and e-commerce marketplace that offers consumers and businesses three ways to buy and sell. The company's Internet auctions feature a rotating selection of more than 12,000 products daily in 16 different product categories, providing consumers and small to mid-sized businesses with the opportunity to purchase a wide range of brand name merchandise, often at greatly reduced prices, through live-action bidding. In addition to uBid's own auction listings or uBid Direct, uBid features uBid Preferred Partner auctions in which consumers will find products listed by uBid-approved businesses and backed by uBid or brand warranties. Users can also buy or sell products through uBid's Consumer Exchange, in which consumers list their items for auction with no listing fee. With more than 3.5 million registered users, uBid is committed to providing its customers with the highest quality auction experience on the Internet and offers supplier warranties on most consumer products. uBid also meets Better Business Bureau Online standards, which gives customers the confidence and security to bid safely online. For more information, visit the company's Web site at www.ubid.com. About Zoovy Inc. Zoovy Inc. provides e-commerce software and services that incorporate a multi-channel sales strategy to reach more markets and drive more sales. Designed for high volume selling, Zoovy's products integrate with dynamic online marketplaces that include popular Web sites and auctions. Zoovy offers complete online storefronts A store on the Internet that offers items for sale and is capable of handling the financial transaction online. See cybermall and digital money. and automated auction management tools for both small merchants and large wholesalers/retailers. For more information, call 877/966-8948, or visit www.zoovy.com. This release 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. which address a variety of subjects including, for example, the expected benefits of the agreement with Zoovy and the expected ability of uBid to auction products. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: uBid's success depends on the continued and increased acceptance of its Web site and the Internet as a medium; consumer preferences for the products offered by uBid may change rapidly; uBid's technologies may not successfully interoperate See interoperable. with those of third parties; and increased competition and technological changes in the markets in which uBid competes. For a detailed discussion of these and other cautionary statements, please refer to CMGI's filings with the Securities and Exchange Commission, including CMGI's most recent Quarterly Report on Form 10-Q Form 10-Q See 10-Q. . |
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