ricardo, Europe's Largest Online Auction House Unveils Global Expansion Strategy -- `Global expansion starts with UK auction Site, goricardo.co.uk'.Business Editors LONDON--(BUSINESS WIRE)--Jan. 25, 2000 Europe's largest online auction channel, ricardo Ri·car·do , David 1772-1823. British economist whose major work, Principles of Political Economy and Taxation (1817), supported the laws of supply and demand in a free market. Noun 1. .de, announced its global expansion strategy. Launching today, goricardo.co.uk, a new UK based online auction channel is focused on the consumer to consumer marketplace. Plans are set to also launch in the Netherlands Netherlands (nĕth`ərləndz), Du. Nederland or Koninkrijk der Nederlanden, officially Kingdom of the Netherlands, constitutional monarchy (2005 est. pop. 16,407,000), 15,963 sq mi (41,344 sq km), NW Europe. , France and Italy within the next three months. Ricardo has bought the No.1 Dutch auction Dutch Auction An auction where the price on an item is lowered until it gets its first bid, and then the item is sold at that price. Notes: The U.S. Treasury (and other countries) uses a Dutch auction when it sells securities. site Veiling.com, and in addition to this global expansion, ricardo.de AG has taken a 17.5 percent stake in the leading Asian auction channel Similan.com, with an option to increase. &uot;ricardo is now by far the largest online auction house in Europe and with our aggressive global expansion strategy we are best positioned to compete in the worldwide marketplace explained Dr. Stefan Wiskemann, co-founder of ricardo. &uot;We will build on our success, as shown in Germany. We have identified the growing Asian market as a place we want to be, hence the stake in Similan.com. We want to develop ricardo into a world-wide brand and through our global strategy, we can make this happen.&uot; Eckhard Pfeiffer Eckhard Pfeiffer (born August 20, 1941 in Lauban, Germany—now Lubań, Poland) is a business executive of German ancestry, and a former CEO of Compaq from 1991-1998. He joined Compaq from Texas Instruments, and established operations from scratch in both Europe and Asia. , Chairman of the board of ricardo says, &uot;The internet will change our lives even more than we think. E-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. is the driving force in this trend. Companies who position themselves at the forefront will find themselves in similar positions to today's hardware and software firms, which were founded 20 years ago and are now some of the most successful firms in the world. Ricardo will deliver to our customers the huge potential the internet offers as well as a truly localised localised - localisation auction experience.&uot; In Britain goricardo.co.uk will start with consumer to consumer auctions but will thereafter replicate rep·li·cate v. 1. To duplicate, copy, reproduce, or repeat. 2. To reproduce or make an exact copy or copies of genetic material, a cell, or an organism. n. A repetition of an experiment or a procedure. world-wide live auctions, which have made ricardo so successful in Germany. Ricardo has taken a 40 percent share in Veiling.com, which offers a wide spectrum of products and auction formats, with a further 60 percent share option. Veiling customers can participate in both consumer to consumer and business to consumer auctions. Within three months, the Dutch site will adopt the complete ricardo branding. Similan.com, the No.1 online auction channel in Singapore, is one of the fastest growing e-commerce companies in Asia. Together with its partner LycosAsia, Similan will start it's rollout throughout Asia in the next months. |
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