bot IGOC 13 1/2
I noticed IGOC coming back to my target..still undecided... 1mil shares traded...may not be ready to move up yet..
Company Description
iGo is a leading provider of hard-to-find, model-specific accessories and
services for mobile electronic devices. Through our iGo.com website and
customer solutions representatives, we enable businesses and individual
consumers to efficiently identify, locate and purchase these products and
services. Our proprietary relational databases of over 6,500 products from more
than 350 suppliers, combined with our comprehensive industry knowledge and
service expertise, create a valuable one-stop solution for our customers. We
believe that our unique business model offers significant benefits to mobile
device manufacturers, business enterprises, mobile professionals and other
people on the go.
We provide a compelling electronic commerce solution for the highly
fragmented portable computing and mobile communications marketplace by
utilizing the convenience and functionality of the Internet. Our business
combines the following key elements:
. our proprietary product, supplier and compatibility databases;
. our use of search technology to simplify the ordering process;
. our capability to rapidly ship business-critical orders;
. our focus on a high repeat purchase and replacement market; and
. our ability to offer customized solutions for corporate customers.
As a result of these factors, we have rapidly grown our net revenues and our
customer database, maintained high gross margins and established a leading
online destination to serve our market. From 1995 to 1998, our net revenues
increased at an annual growth rate of more than 90%. Our gross margins grew
from 32% for the six months ended June 30, 1998 to 35% for the six months ended
June 30, 1999. Our customer database includes profiles of over 525,000 mobile
users and detailed transaction histories on over 150,000 buyers. Approximately
50% of the Fortune 500 have purchased products or services from us. In
addition, we have developed strategic relationships with key business partners
such as Ariba, Motorola and NEC.
Mobile Product Marketplace
The use of portable computers and mobile communications devices has grown
rapidly due to infrastructure and hardware improvements, which have simplified
use, increased portability and reduced equipment and cellular airtime cost.
Busy professionals and other time-constrained people are increasingly
incorporating these devices into their daily lives. As a result, businesses and
individuals are willing to spend more on mobile electronic devices, accessories
and services to increase productivity and add flexibility.
The Internet has become an attractive channel to reach users of laptops,
cellular phones, personal digital assistants and other mobile electronic
devices. This is primarily due to the broad reach of the Internet, its useful
search functionality and the substantial demographic overlap between mobile
product users and Internet users. The marketplace for mobile devices,
accessories and batteries is not well served by traditional channels, which
include mobile device manufacturers, traditional retailers and large mail-order
companies, who are typically more focused on selling the newest "big ticket"
products such as desktop computers, laptops and printers. Most mobile
accessories and batteries are brand and model-specific and this lack of
standardization creates a complex customer service problem that cannot easily
be solved by traditional industry participants. Moreover, unlike the personal
computer, book and music markets, there is no major distributor that carries
even a fraction of the products needed to provide a comprehensive solution for
the mobile product marketplace.
Our Strategy
Our mission is to provide solutions that give people freedom and flexibility
over their lives and increase their business productivity. Our strategy is to
continue to offer a comprehensive Internet-based solution that provides
significant benefits to all participants in the mobile product marketplace,
including manufacturers, business enterprises, mobile professionals and other
people on the go. Our goal is to be the leading one-stop solution for the
mobile product marketplace, and to reach this goal, we plan to:
. aggressively build the iGo brand;
. improve the iGo.com shopping experience;
. enhance our proprietary databases;
. focus on the corporate market;
. pursue international opportunities; and
. pursue strategic acquisitions and alliances. |
