LAKE FOREST, Calif.--(BUSINESS WIRE)--Oct. 21, 1999--Nutek
Inc. (OTCBB:NUTK), a holding company, Thursday announced the opening
of the doors to their online shopping mall at
buynetplaza.com will take place Monday, Oct. 25, 1999.
The online mall, as part of its business model will be opening
the doors to outside businesses. This is the same strategy Amazon.com
(Nasdaq:AMZN) announced recently. Nutek Inc., however, not be
charging any setup fees at this point for under 50 products, but
rather collecting a percentage of each sale. All transactions will be
processed by Nutek in an effort to eliminate fraud.
Nutek will not, however, be carrying products offered by the
general public, but only established businesses.
Nutek Inc, currently has PetsMart (Nasdaq: PETM), BeautyBuys.com
owned by Synergy Brands Inc. (Nasdaq: SYBR), Dell Computers
(Nasdaq:DELL), 1800Flowers (Nasdaq:FLWS), Sharper Image (Nasdaq:SHRP),
Travelocity.com owned by Sabre Inc. (NYSE:TSG), American Greetings.com
(NYSE: AM), Staples (Nasdaq: SPLS), warehouse.com (Nasdaq: MWHS),
carprices.com, quicken.com (Nasdaq: INTU), NextCard Inc.
(Nasdaq:NXCD), vitaplanet.com owned by Kaire Holdings (OTC BB: KAHI),
Furniture.com, Garden.com (Nasdaq:GDEN), Publishers Clearing house and
etoys.com (Nasdaq: ETYS) signed on as affiliates to offer their
products from the BuyNetPlaza.com site.
By linking to these sites from BuyNetPlaza, we will receive
commission from each sale.
BuyNetPlaza.com, has opened up with over 1 million products and
will continually be adding to this including it's own online auction
which is still under development. An affiliate program will also be
launched in which other online sites can display links back to
BuyNetPlaza.com which can earn them commission.
In order to facilitate the development of the BuyNetPlaza, we
have used "branded" technologies allowing us to get to market a lot
faster and more economically than the standard Internet mall.
BuyNetPlaza.com will also be offering "BonusBuy" points which
will be issued automatically when items are purchased off the
BuyNetPlaza.com mall, not affiliate sites, and will be redeemable for
products and gift items. This will be a novel way in getting shoppers
to keep returning to the BuyNetPlaza.com online mall.
The company is entering the arena with the likes of Amazon.com
(Nasdaq: AMZN), eBay (Nasdaq:EBAY), shopping.com (Nasdaq:IBUY), cdnow
(Nasdaq NM:CDNW) and Beyond.com (Nasdaq:BYND).
The BuyNetPlaza.com Web site at this time is still in the first
stages of development, with additional products and services
continually being added.
Safe harbor forward-looking statements:
Except for historical information contained herein, the
statements in this release are forward-looking statements that are
made pursuant to the safe harbor provision of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements involve
known and unknown risks and uncertainties, which may cause the
company's actual results in future periods to differ materially from
forecasted results. These risks and uncertainties include, among other
things, volatility of prices, product demand, market competition,
risks inherent in the company's operations.
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