Here's some e-commerce news, as we wait for the court date:
Friday October 31 12:55 PM EST
Company Press Release
ModaCAD Unveils New E-Commerce Technology and Business Strategy
LOS ANGELES--(BUSINESS WIRE)--Oct. 31, 1997--
ModaCAD Leverages Acclaimed Photo-Realistic Visualization
Technology Into Mass Market Consumer Space For Electronic
Commerce
ModaCAD Inc. (Nasdaq:MODA) Friday announced the unveiling of a newly
licensable technology and the introduction of a new business strategy that
will catapult the company, as a recognized leader, into the rapidly
emerging electronic commerce (''e-commerce'') market.
As with all ModaCAD products, this new e-commerce technology includes
ModaCAD's proprietary and patented core visualization technology, but also
features the creation of newly designed content management technology for
mass market consumption that is applicable to all areas of e-commerce.
In several recent publications, sources such as Business Week have targeted
e-commerce as the fastest growing segment of the computer visualization and
graphics industry (e-commerce currently represents a small 10% slice of an
estimated $20 billion-plus industry). It is estimated that e-commerce alone
will evolve into a $327 billion market by 2002 according to a report
published by Forrester Research in the Los Angeles Times.
Joyce Freedman, president of ModaCAD said, ''Not only are we bringing an
exciting and revolutionary new software technology to personal computing
via the Internet, but the growth potential for visualization companies
within the e-commerce sector is staggering. The enhanced combination of our
visualization technology and e-commerce content managers will not only
represent the backbone of ModaCAD's future business strategy, but
introduces significant new short and long term revenue generation
components which will have the ability to increase revenues from a variety
of sources including fees associated with licensing, on-line subscriptions
and advertising.''
ModaCAD's e-commerce content managers' interactive shopping capabilities
offer value to consumers far beyond traditional printed catalogs. This
technology combines powerful visualization tools with the ability to
organize, filter and manage digital product information in an advanced
technological environment that showcases merchandise and services in a way
that is informative, practical and useful to consumers. Having the ability
to shop, research product information and visualize potential purchases in
a photo-realistic scene environment creates an incentive for consumers to
purchase goods and services on-line in that it enables consumers to
circumvent time and travel issues which can be key problems associated with
unenjoyable shopping experiences.
Freedman continued, ''A key strategy for ModaCAD is to enable many industry
specific content managers from this common technology. The concept is to
offer specialized applications that offer value to consumers in each
specific area of commerce, while maintaining a common content format and
delivery mechanism.''
According to Maurizio Vecchione, ModaCAD's executive vice president,
''ModaCAD's new technology in this area allows for the creation of content
managers that are not simply cataloging tools, but by utilizing the 3D
aspects of this technology, we are showcasing a new set of features such as
virtual reality shopping and interactivity among users which enable a
dramatically more compelling user experience.''
A key element of this interactive shopping technology features the ability
to automatically update products, content and news over the Internet
utilizing ModaCAD's proprietary ''push'' technology. ModaCAD's e-commerce
technology has been developed to easily and seamlessly deliver content and
information to consumers as soon as it is available. This enables consumers
to always have access to the latest merchandise and specific product
information immediately as compared to periodic delivery and time delays
associated with traditional printed catalogs.
Vecchione added, ''The marriage of our visualization and content management
technologies is a dynamic force for e-commerce applications. We have
created a unified model for which there are no barriers to entry as we have
no direct competitors capable of providing both of these technologies from
one source. This fact combined with our expertise in creating digital
content and an existing massive digital content archive, makes ModaCAD the
ideal as well as the logical partner of choice for any number of large
companies interested in entering the e-commerce business.
''We expect this new e-commerce technology to enable a move to the Internet
of many of our existing products as well as making this technology the
cornerstone of ModaCAD's strategy of providing the leading visualization
technology applied to e-commerce in the industry'' Vecchione concluded.
ModaCAD's core rendering technology enables computers to create
photo-realistic synthetic 3D images on a computer screen from computer
generated data, in real-time. ModaCAD develops, markets, and licenses 3D
rendering, modeling and virtual reality software for a broad variety of
applications to the commercial, consumer and OEM marketplaces. ModaCAD
holds two patents on its proprietary rendering technology and distributes
its products to more than 33 countries worldwide.
This news release contains forward-looking statements including statements
regarding the timing and composition of revenues, future operating results
and the timing of product introductions, among others. Except for
historical information, the matters discussed in this release are
forward-looking statements that are subject to certain risks and
uncertainties that could cause the actual results to differ materially from
those projected. Factors that could cause actual results to differ
materially include the following: (i) the timely completion of the
development of the company's software products, including ModaCAD's
e-commerce software products, consumer software and enhanced or updated
versions of the company's electronic merchandising and CAD software
products; (ii) unforeseen technical or other obstacles in the development
or production of such products and software; (iii) acceptance of ModaCAD's
products and consumer software by the publisher/distributor of such
products and software and the release and marketing plans of the
publisher/distributor; (iv) customer acceptance of ModaCAD's e-commerce and
consumer software products and updated or revised versions of the company's
electronic merchandising and CAD software products; (v) the company's and
its publisher/distributor's ability to produce its software products on a
cost-effective and timely basis; and (vi) factors not directly related to
the company, such as competitive pressures on pricing, market conditions in
general, competition, technological progression, product obsolescence and
the changing needs of potential customers and the e-commerce, software,
textile, apparel, home furnishings and home design industries in general.
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Contact:
ModaCAD Inc., Los Angeles
Alison Barney, 310/312-9826 Ext. 108
E-mail: alisonb@modacad.com
Linda Freedman
E-mail: lfreedman@modacad.com
Fax: 310/444-9577
modacad.com
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More news for referenced ticker symbols: MODA, and related industries:
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