PurchasePro.com Launches the Internet's Definitive Global Business-to-Business Destination
LAS VEGAS--(BUSINESS WIRE)--Aug. 16, 2000--PurchasePro.com (Nasdaq:PPRO - news), the leader in browser-based business-to-business e-commerce solutions, today announced the launch of its co-developed business-to-business destination with America Online.
PurchasePro.com and America Online announced in March a strategic alliance to provide business users of all AOL brands a complete electronic commerce solution powered by PurchasePro.com.
The new co-branded site includes a look and feel that aligns with businesses' preferences for an intuitive, efficient user interface. Business users who are current members of AOL and Netscape can immediately access the exchange with their existing user name and password.
``The on-time completion of this marketplace is an important milestone towards PurchasePro.com and America Online creating the definitive global business-to-business destination,'' said Chris Benyo, senior vice president of marketing for PurchasePro.com. ``This announcement solidifies both companies' commitment to deliver the most advanced, scalable, end-to-end e-commerce solution to businesses of all sizes and heralds a new era of interconnected e-commerce.''
The new marketplace brings AOL and Netscape users the benefits of both buying and selling to each other, as well as to all 25,000 current members of the PurchasePro.com global marketplace, bringing them cost savings, sales opportunities and increased efficiencies.
Using PurchasePro.com's unique common platform that allows exchange-to-exchange (e2e) functionality, users are connected to members of their own marketplace and to users in other marketplaces such as those operated by Office Depot, Sprint and many others. This interconnection increases the liquidity of both the horizontal and vertical marketplaces, and allows users to easily add their existing customers and suppliers to the network.
Additional functionality will include a streamlined registration process and a link to download AOL's Instant Messenger. The exchange will include a common classification system and a methodology that will enable buyers to search across all AOL brands and the entire PurchasePro.com global marketplace. This will provide participants with the efficiency of conducting one search that maximizes results and reduces the time and effort spent on each transaction.
Multiple, co-branded entry points to the exchange will be available across all AOL properties, including Netscape, CompuServe and AOL.com. Registration will take place through the ``business card'' product developed by the Netscape business portal. A tiered membership strategy leverages AOL and Netscape's existing base of more than three million, non-home-based business customers.
About PurchasePro.com
PurchasePro.com Inc. (Nasdaq:PPRO - news), a leader in business-to-business e-commerce, operates the PurchasePro.com exchange, encompassing more than 25,000 businesses, and powers approximately 160 private-label marketplaces with its highly scalable, browser-based e-commerce engine.
PurchasePro.com's solutions enable businesses of all sizes to easily buy and sell products and services, and compete more effectively by enhancing sales opportunities, reducing procurement costs and greatly increasing employee productivity. With the fastest e-marketplace solutions in the industry, PurchasePro.com responds to the most common corporate needs: e-Procurement for corporate procurement needs, v-Distributor for online distributors, and e-MarketMaker for Internet market makers.
PurchasePro.com has developed strategic sales and marketing relationships with industry leaders including America Online, Hilton, Office Depot Inc. and Sprint Corp. The company provides extensive support and training programs. For information call toll free at 888/830-4600 or in Las Vegas at 702/316-7000, or visit www.purchasepro.com.
NOTE TO EDITORS: PurchasePro.com is a servicemark of PurchasePro.com Inc. All other trademarks or registered trademarks are the property of their respective owners.
This news release includes forward-looking statements which are subject to the ``Safe Harbor'' created by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements (which involve the company's plans, beliefs and goals, refer to estimates or use similar terms) involve certain risks and uncertainties, including the risks and uncertainties associated with rapidly changing technologies such as the Internet, the risks of technology development and the risks of competition that can cause actual results to differ materially from those in the forward looking statements. The company undertakes no obligation to revise or publicly release the results of any revision to these forward-looking statements. For more information about these risks and uncertainties, see the SEC filings of PurchasePro.com, Inc., including the section entitled ``Factors That May Affect Results'' in its 10-K filing for the period ended December 31, 1999, and its 10-Q for the quarter ended March 31, 2000, which is available from the company on request and on the Internet at the SEC's Website, www.sec.gov.
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Contact:
PurchasePro.com
Matthew Brimhall, 702/316-7000 (Media)
matthew.brimhall@purchasepro.com
or
Keith Jensen, 702/316-7000 (Investors)
keith.jensen@purchasepro.com
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