Big news. 11,000 members. If they all bought one watch from Timebeat at say $3,000 that would mean $33,000,000 in sales.
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Timebeat.com to Acquire Leading Watch Collector Online Community Watchzone.net
NEW YORK--(BUSINESS WIRE)--Dec. 17, 1999--Timebeat.com Enterprises Inc. (CDNX:TBE, OTCBB:TMBTF), a premium online retailer of the world's most renowned names in watches, jewelry, and giftware, is pleased to announce that it has signed an agreement to acquire Watchzone.net, Inc., located at watchzone.net.
Watchzone.net operates the leading independent community website for serious watch collectors and connoisseurs. Watchzone's website features various chat rooms and forums, which are moderated by Watchzone's management team consisting of several people who have significant watch industry experience. Watchzone's website was founded in 1998 as a means for serious watch collectors to exchange information about the various watch manufacturers and as a place to buy, sell and trade watches.
Watchzone.net is currently receiving more than 400,000 hits per month and has experienced tremendous growth over the last few months.
Alex Vileshin, President of Timebeat commented, ``We are incredibly excited to make this acquisition of Watchzone.net. Acquiring Watchzone.net will provide us access to over 11,000 members who are potential customers of Timebeat.com. Timebeat.com provides the optimal e-commerce solution where customers can purchase or have brand name watches and jewelry repaired with the utmost confidence.'
Watchzone.net hosts a broad range of serious watch collector information and research material. Watchzone's forum and discussion boards are extremely active and its site hosts a wide range of topics from the discussion of watches, horology and watch-related subjects to weekly games and a wide range of quality content. This content will be integrated into Timebeat.com so that visitors to timebeat.com can conduct research on a watch, a brand or ask others opinions and questions while they shop at the site.
Terry L. Allison, President of Watchzone, stated, ``Combining our site with Timebeat is truly a win-win situation for everyone. Timebeat provides exactly what our members are looking for: a great selection of the best watches, including an authentication and warranty program that is set to become an industry standard for which all other online auction websites will be judged by. We look forward to enjoying the enormous synergies this acquisition will provide.'
Terms of the deal will be disclosed in a future news release.
About Watchzone.net
Watchzone.net is located at watchzone.net started in 1998 to provide the serious watch collector the means to exchange information about watches. Since that time it has grown rapidly and is currently receiving over 11,000 visitors per day and provides over 200,000 pages of information per month to its visitors. Watchzone has experienced watch collectors who moderate its chat rooms.
About Timebeat.com
Timebeat.com is a dynamic Internet company focused on retailing designer watches as well as vintage watches, fine and estate jewelry, collectibles, and giftware from the world's most recognized manufacturers at substantial savings. Timebeat.com offers an extended warranty program and up to a 50% allowance on a trade-in towards the purchase of a new watch. All offerings are inspected by leading experts in the industry and are fully warranteed. For more information on Timebeat.com or its special 1999 holiday promotions, visit www.timebeat.com. |
