Multiple Listing Service of Long Island Exclusively Endorses bamboo.com
One of the Largest Multiple Listing Services in North America Selects bamboo.com as Virtual Tour Provider
PALO ALTO, Calif.--(BUSINESS WIRE)--Oct. 7, 1999--Bamboo.com, Inc. (Nasdaq: BAMB), a leading producer of 360-degree virtual tours for the Internet, announced today an agreement with the Multiple Listing Service of Long Island (MLSLI), one of the largest multiple listing services in the nation with approximately 12,500 subscribers and over 52,000 new listings per year. Under the agreement, MLSLI will exclusively promote and endorse bamboo(tm) Virtual Tours to its subscribers.
This agreement is one of a number of significant alliances bamboo.com has secured with leading Multiple Listing Service (MLS) providers that make it easier for real estate professionals to order bamboo Virtual Tours. In addition to the partnership with MLSLI, bamboo.com has recently announced partnerships with the largest MLSs in North America -- the Toronto Real Estate Board (TREB), the Multiple Listing Service of Northern Illinois (MLSNI) and the Metropolitan Regional Information System of the Mid-Atlantic (MRIS). These partnerships, along with several other similar agreements, solidify bamboo.com as a leading provider of virtual tours for the North American MLS system, the backbone of the real estate industry. Bamboo.com distributes virtual tours to the leading national real estate Web sites, public MLS Web sites and several regional sites, thus maximizing the exposure of the MLS subscribers' listings.
"By choosing bamboo.com as its virtual tour solutions provider, MLSLI has joined the elite group of leading-edge real estate service providers that are shaping the future of the MLS," said Howard Field, co-founder of bamboo.com. "The seamless integration of bamboo Virtual Tours into the MLSLI system exemplifies our commitment to help make the process of buying and selling homes more efficient and less stressful for real estate agents, home buyers and home sellers."
Bamboo Virtual Tours will be seamlessly integrated into the MLS system so that when real estate agents enter information about a home for sale into the MLS database, they will be able to order a virtual tour at the same time. Utilizing its turnkey service, bamboo.com handles filming, processing and posting the tours to the Internet. All bamboo Virtual Tours are displayed in the standard screen size and the large screen size using bamboo.com's ViewAlways(tm) technology. In addition, the real estate agent is sent a bamboo(tm) E-mail Virtual Tour that can be attached to a message and sent to prospective buyers all over the world.
"We are very excited about integrating bamboo.com into our MLS Systems and Web sites," explains Joseph Mottola, CEO of MLSLI. "Our subscribers will be able to order bamboo Virtual Tours with one click on our MLS System making it a simple, one-entry process. Moreover, we have worked with bamboo.com to ensure that our subscribers' virtual tours can be displayed on our MLS Internet system, our consumer Web site, the subscriber's office site and the national sites of their choosing."
About bamboo.com
Based in Palo Alto, CA, bamboo.com (Nasdaq: BAMB) is a leading provider of Internet-based 360-degree virtual tours on the Internet. Bamboo.com maintains key relationships with major real estate Web sites and multiple listing service (MLS) providers, including HomeStore.com, REALTOR.com, HomeSeekers.com, Microsoft HomeAdvisor, HOMES.com, CyberHomes, LoopNet, Moore Data Services and GTE. As a result of these alliances, bamboo(tm) Virtual Tours can currently be viewed on America Online (AOL), Yahoo!, Microsoft Network (MSN), Excite, Netscape Netcenter, GO Network/InfoSeek, NBC, The Wall Street Journal Interactive Edition and others. Company investors include Intel Corporation, Trident Capital, the Walden Group and VantagePoint Venture Partners. For more information about bamboo.com, visit bamboo.com or call toll free 1-888-7BAMBOO. Editors, please contact Antenna Group, Inc.: Heidi K. Zuhl at 415-977-1915, or press@bamboo.com.
About MLSLI
The Multiple Listing Service of Long Island, Inc. (MLSLI) is a subsidiary of the Long Island Board of REALTORS(R), a 12,000-member non-profit trade association. Since its inception in the early 1970's, "MLSLI" has grown into a computerized network of more than 1,550 real estate offices throughout Nassau, Suffolk and Queens County. In fact, MLSLI participating REALTORS(R) listed over 63,000 properties and gross sales neared $4.5 billion dollars in 1998 alone. Visit MLSLI on the World Wide Web at mlslirealtor.com. With an inventory of over 15,000 available homes on the Internet, MLSLI helps participating REALTORS(R) attract buyers from Babylon to Brazil.
This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbors created by those sections. Actual results may differ materially. The matters discussed in this press release also involve risks and uncertainties described from time to time in bamboo.com, Inc.'s filings with the Securities and Exchange Commission (SEC). In particular, see "Risk Factors" in the Final Prospectus included in the Company's Registration Statement on Form S-1 declared effective by the SEC on August 25, 1999 (www.sec.gov). sec.gov
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