Thursday August 17, 1:31 pm Eastern Time
Press Release
PaperBid.com Launches E-Marketplace for the Paper Industry Powered by PurchasePro.com - Nasdaq:PPRO
Company Also Designated Preferred Supplier of Paper Products on the PurchasePro.com Global Marketplace
ATLANTA--(BUSINESS WIRE)--Aug. 17, 2000-- PaperBid.com, a supplier of paper products, announced today that it has created a one-stop e-commerce marketplace for the paper industry powered by PurchasePro.com a leader in browser-based business-to-business e-commerce solutions. PaperBid.com also announced that it has been designated a preferred supplier of paper and packaging materials on PurchasePro.com Global Marketplace containing more than 25,000 businesses and 160 marketplaces.
``While all of our competitors are stand-alone e-marketplaces, our next generation business-to-business virtual private marketplace is built on a common platform that allows exchange-to-exchange interconnectivity and provides a complete end-to-end electronic commerce solution to businesses of all sizes'', said Friedrich W. Schreyer, chairman and chief executive officer of PaperBid.com.
PaperBid.com's e-marketplace will feature a common methodology enabling users a more efficient way to search and manage intra and extra company - employee - supplier - customer relationships across all services and products. Buyers can search in several different ways; by classification (SIC codes), by company name, by product, by brand, and by manufacturer. This will provide buyers with the efficiency to conduct one search that maximizes results and reduces time and effort spent on each transaction.
Suppliers and buyers can easily and quickly add their existing customers to the PaperBid.com marketplace and provide users with the ability to buy and sell to each other as well as members of the PurhasePro.com Global Exchange. Our preferred supplier status on PurchasePro Global Marketplace gives Paperbid.com members an important advantage in the $500 billion pulp, paper and packaging industry.
``Every new customer proves that our e-MarketMaker solution is the enabler-of-choice for business-to-business e-commerce,'' said Scott McClure, preferred supplier initiative director of PurchasePro.com. ``Powering new private-labeled vertical marketplaces puts us closer to reaching critical mass by increasing the population of our horizontal global exchange.''
Under the terms of the agreement, PurchasePro.com will provide PaperBid.com a custom-branded virtual marketplace with access to more than 25,000 existing buyers and suppliers, dedicated technical support, catalog development services and training. PurchasePro.com will also promote PaperBid.com as a preferred provider of paper and packaging products in all of its vertical marketplaces through premium online placement and joint sales and marketing activities.
For more information on PaperBid.com, call toll free at 1-866-575-8100 or in Atlanta at 678-428-6385, in Miami at 305-379-8500 or visit www.paperbid.com.
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 1-888-830-4600 or in Las Vegas at 702-316-7000 or visit www.purchasepro.com. |
