Buyingedge.com Membership Increases 250% in Five Weeks; Unprecedented Growth for Internet Shopping Site
SHELTON, CT--(BUSINESS WIRE)--September 15, 1999--Buyingedge.com,
(www.buyingedge.com), the Internet's largest reverse auction Website where the buyer
rules, announced today it has, in the last 5 weeks, more than doubled its membership
enrollment to more than 47,000 buyers.
"We are encouraged by the thousands of people who have signed up for our service and
now enjoy the shopping benefits of a reverse auction Web site", says buyingedge.com CEO
Gary Martino. "Both buyers and merchants benefit at buyingedge.com: buyers get the best
deal and merchants both online and off get more customers to buy their products."
Since buyingedge.com opened its site to the public in July, the reverse auction Web
site has steadily increased membership. In August, buyingedge.com had 18,000 registered
members, in September that number had more than doubled to 47,000 members.
Buyingedge.com works for both buyers and merchants. For buyers, buyingedge.com
eliminates much of the time and confusion people often experience using traditional
Internet shopping models. For businesses, buyingedge.com levels the playing field that
e-tailers (merchants on the Web) and retailers (merchants that aren't on the Web) compete
upon.
"Market analysts project that consumer Internet sales are expected to grow fivefold in
the next few years", says Gary Martino. "Buyingedge.com is positioned to take advantage
of this explosive growth and be the market leader in the reverse auction Web site
category."
How It Works
Buyingedge.com offers consumers a better way to shop on the Web; at buyingedge.com,
buyers are in control. They can easily and efficiently submit purchase requests and have
them automatically distributed to the many merchants who sell the requested product.
Merchants receive purchase requests and respond to those requests using their
buyingedge.com account. Buyingedge.com enables consumers to consult with merchants, get
the best deal, and conclude the purchase at their discretion.
In addition, the system provides the tools that help both buyers and merchants track,
organize and analyze buyer requests and merchant responses. The result is a positive and
effective experience for both buyers and merchants. Buyers can get the best deals
possible and merchants, both on- and off-line, can increase their business.
About buyingedge.com
Buyingedge.com (www.buyingedge.com), the Internet's largest reverse auction Web site
where the buyer rules, was founded in June of 1999. The site brings more than 47,000
buying members and 4,000 vendors together for the dynamic and negotiable sale of brand
name consumer goods.
Buyingedge.com was formed and then successfully spun-off as a separate business entity
by Information Management Associates, Inc. (NASDAQ: IMAA), a leading provider of
enterprise software. Current investors include IMA, @Ventures, Inc. (the affiliated
venture capital arm of CMGI), Wand Partners, Inc., Amicus Capital, LLC, and Madrona
Investment Group, LLC. Buyingedge.com has offices in Shelton, Connecticut and Redwood
Shores, California. For more information, go to buyingedge.com, e-mail
info@buyingedge.com or call 1-877-889-8900.
CONTACT: Kenneth Juarez
PepperCom
(212) 931-6138
kjuarez@peppercom.com
or
Jacques Wagemaker
Buyingedge.com
(203) 925-6893
jw@buyingedge.com
10:10 EDT SEPTEMBER 15, 1999 |
